PMC Bank Scam: Depositors Protest Outside RBI, Several Detained By Police

Depositors of Punjab and Maharashtra Co-operative Bank (PMC) staged a protest outside Reserve Bank of India on November 05. They have been demanding their deposited money back and an assurance from the officials that their money is safe. Later, the protesters were detained by the police officials. In September, the RBI restricted the activities of the PMC bank for six months and asked it not to grant and renew any loans and advances, make investments or incur any liability, including borrowing of funds and acceptance of fresh deposits after an alleged fraud of Rs 4,355 crore come to light.