PMC Bank failure.
This is not the first time that the depositors of a Co-Opt Bank had to suffer. Earlier the depositors of the Rupee Bank also met a similar fate. RBI or Govt did nothing to bail out the depositors. They are still suffering. Now also RBI and the Govt will do nothing to bail out the depositors. They are least bothered about the sufferings of the common man. Whereas in the case of PDCC Bank, known black money of the reputed politicians were exchanged with new currency after the demonetization. Every body knew that the money was collected by the bank without following the procedure laid out by the RBI. Yet it was done. It was our bad luck that we have to depend on the vim of the Govt and its agencies and suffer every now and than. more
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PDCC bank was meant for laundering of politicians. Any bank controlled by politicians is to be treated as a potential hazard and the public should refrain from depositing their savings in such banks. RBi and Govt must, of course return the depositors' money with interest. more
Oct 17
Depositors money should be safeguarded in every manner... If the govt doesn't act then why will the public keep the money in the bank when it's not safe... It's our hard earned money more
Oct 14
The persons who cheated are well known Govt. should seize their property and all other assets, sell these and repay the account holders. Put the cheats behind bars. Govt. should act fast more
Oct 14
Private insurance should be made available for FD kept with Co-op and Private Banks this should be made mandatory to open FD account with them. This will push up cost of opening an FD Account with Co-op Bank Vs Nationalised Bank, there by shifting deposit to safe Banks automatically. more
Oct 14
It is NOT a bank's failure, it is the greedy criminals who are allowed to act. Name and structure of the bank don't matter. The bigger the bank the more like that is happening. Greed is the force behind all power games, which one may call politics (in the forefront) or religion (in the background). Banksters are using both of them, very effectively. Back to the actual problem: Let the banks do the bailout, hundred percent of the deposits has to be given to the account holders. Make all banks to create one common fund for these bailouts - you will see how watchful they will be not to make a bailout necessary! Some countries have this scheme and a very strong and stable banking 'industry'. more
Oct 14
