PMC bank fraud

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We cannot get rid of cooperative banks but must fix governance more  

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Punishment system should be severe and timely.So that people will have faith in the system and culprit will be scared to do crimes.Even punishment can include Capital Punishment. more  
Govt and RBI should unitedly decide and pay back each one's money.

On 04-Oct-2019 12:51 PM, "Seema Somani" <>

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Co-0perative banks will always be floated & controlled by politicians with a ploy of reaching out to rural population, their ultimate aim is to defraud the very same rural population. We have had plenty of cases in the past, & not learnt any lessons, & keep patronising them for a few %more of interest. During demonetisation Govt withdrew permission to co-operative banks to change banned notes on specific information that they were in wholesale misuse of of exchanging black money, Govt did not even initiate an enquiry into that knowing very well that their own people will be caught with their pants down. Let us face the reality that we can't change our politicians & stop patronising co-operative banks in our best interest. Also empty your lockers at the earliest, don't go by the assurance of RBI that they will not allow any co-operativee banks to fall. go by your experience of sufferings from PMC scam. Unfortunately in India for all politicians' sin it is always the commonman who will be punished. Take the NPAs we are now repaying the loans which the super rich of India refuses to pay back, also umpteen housing scams where court orders demolition of buildings & who is punished ,only the innocent home buyers, no action against politicians & beaurocrats & buildrers who are the real culprits. more  
Scam or not, people are now finding it difficult to be secure of their hard earned money earned through salaries. Senior citizens are in a quandary about their life-time savings. The very co-operative movement has lost its direction. Selected people, mostly politicians, have cornered every little opening for savings. The Government is rudderless. It is not able to protect its citizens, throwing them to their fate.
How could such a big fraud go unnoticed by the watchdog RBI? What sort of monitoring is being done. At times I get a feeling that RBI also is hand in glove with the culprits or the RBI staff is totally inept.
But where is this going to end? Any guess? more  
Madam...Yes big fraud...But govt cannot excuse for 20,00,000 families are suffered due this. Earlier two strong head scam around 20,000 cr ..Govt ignored...Now atleast for common people sake cannot ignore even though it is pvt bank...For Vijay Malaya and Nirman Modi scam from govt banks ...That is only is difference... more  
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