All the Account Holder/Depositors and Shareholders,
PMC Bank Co. Op. Ltd.,
You all are aware that due to default in PMC Bank Co-Op. Ltd., there is huge erosion in the net worth of PMC bank. The bank is submitting monthly statements to RBI for all the deposits and loans above 1 crore. The RBI failed to recognize the alarming situation and allowed the situation to continue. Now PMC Bank has informed Account holders to withdraw Rs.10,000/- only from their bank A/c which has been subsequently raised to Rs.25,000/- per depositor.
RBI being regulator of all the banks should have recognized the alarming situation and should have taken corrective steps to ensure that general public at large is not made to suffer due to any violations on the part of the board of the Bank.
Under the circumstances there is no option but to petition the Central Registrar of Co-operative department and Reserve Bank of India working under Ministry of Finance. It is imperative that Ministry of Finance in order to safeguard the interest of the account holders and depositors suspend the present board and appoint administrator to look after the day to day functioning of the bank, Failing which stake holders will have no option but to file public interest litigation (PIL) IN Mumbai High court Like Maharashtra State Co-Operative Bank PIL No. 10 of 2012 and seek Prosecution of all the Board Members of PMC Bank & RBI Officials Who allowed the violations to Continue and waited till the collapse of the Bank.
ARORA SURINDER MOHAN
Bharat Jan Aadhaar Party
Address:33/13 A wing, Kiran Chandra CHS Ltd, Manish Nagar, Shopping Center, Andheri West Mumbai - 400053 Tel No – 9820356260, 9833014795 more
After repeated frauds our bank officers could not awake from the sleep and another fraud of PMC bank came in to notice.This should be alarming for other banks too.Henceforth no fraud should be happened. All Govt audit machinery at State & Central should be held responssible.RBI officers passing the annual balance sheet ,sitting at the top positions are responssible.Finance Ministry sleuths who are appointed there to keep vigil and take care of public money are the supporters of culprits like Maally and Nirav.These officers responssible for heinious act of allowing public money to be looted by frauders should be prosecuted and in addition ,the amount involved in the scandles should be recovered from their salaries. more
Government must act in all circumstances where public has been cheated even though its statutory bodies like SEBI, RBI, Finance Ministry and large Audit firms are involved and tasked with keeping a watch. more