Latest News Site

News

SC agrees to hear plea on insuring PMC Bank customers

SC agrees to hear plea on insuring PMC Bank customers
October 16
16:59 2019

New Delhi, Oct 16: The Supreme Court on Wednesday agreed to hear a plea seeking directions for redressal of certain aspects, including insuring around 15 lakh people whose money is blocked in the scam-hit Punjab & Maharashtra Co-operative Bank (PMC Bank).

Last month, the Reserve Bank of India (RBI) had imposed regulatory restrictions on PMC Bank under the provisions of the Banking Regulation Act. The RBI has initially allowed depositors to withdraw a paltry Rs 1,000, followed by Rs 25,000 and now raised to Rs 40,000, but the customers have been demanding full access to all their accounts.

A bench headed by Justice N. V. Ramana said it would consider listing of the plea when the matter was mentioned for urgent listing before it.

The petition was filed by Delhi-based Bejon Kumar Misra, who has said that the RBI’s move has caused disastrous consequences for depositors. The petitioner also alleged that the Centre and the RBI had not taken any emergency steps towards the protection of the hard-earned money of around 15 lakh customers of PMC Bank.

The plea requested the court to issue an exhaustive and comprehensive guideline to safeguard the banking and co-operative deposits in the eventuality of emergency financial crisis where common people are financially stranded by the acts of few unscrupulous persons which eventually leading to various personal irreversible catastrophes.

He has also sought quashing of the RBI notifications restricting the limit of withdrawal of deposited amount in PMC Bank.

–IANS 

TBZ
Annie’s Closet
G.E.L Shop Association
kallu
Novelty Fashion Mall
Fly Kitchen
Harsha Plastics
Status
Akash
Swastik Tiles
Reshika Boutique
Paul Opticals
Metro Glass
Krsna Restaurant
Motilal Oswal
Chotanagpur Handloom
Kamalia Sales
Home Essentials
Raymond

About Author

admin_news

admin_news

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Only registered users can comment.

Sponsored Ad

SPONSORED ADS SPONSORED ADS SPONSORED ADS SPONSORED ADS SPONSORED ADS SPONSORED ADS

LATEST ARTICLES

    भारतीय एवं विश्व इतिहास में 19  नवंबर की प्रमुख घटनाएं

भारतीय एवं विश्व इतिहास में 19 नवंबर की प्रमुख घटनाएं

Read Full Article