Punjab and Maharashtra Co-operative Bank (PMC) customers in Mumbai are staging protests outside the Bharatiya Janata Party (BJP) headquarters. PMC Bank customers started this demonstration before the press conference of Finance Minister Nirmala Sitharaman. According to the information, customers are showing in front of Nariman Point outside the BJP headquarters. A customer Krishna said that I do not know what they are doing, I do not care what they are doing; I want my money back. Whatever I have deposited in the bank, I cannot earn again.
Finance Minister Sitharaman said that this group will continue to work with these objectives.
We will bring any regulation, any amendment, which will be required in the forthcoming winter session of Parliament. The Finance Minister said that the group which will look into the matter (PMC Bank case) will be followed by two Secretaries of the Finance Ministry. The meeting will also have RBI A1 Deputy Governor level officials. So, they can take necessary steps to prevent such things in the future and empower the regulator better.
Sitharaman said that if the amendment will help us curb maliciousness, help in better regulation, will help empower RBI, then we will do it. Finance Minister Sitharaman said that I have asked the secretaries of the ministry to study what is happening. There will also be representatives of RBI to understand the deficiencies and will also look at how they will amend the relevant Acts.
In the press conference, Nirmala Sitharaman said that the Finance Ministry has nothing to do with the PMC Bank case as RBI is the regulator. But on my part, I have asked my ministry secretaries to work with the Ministry of Rural Development and the Ministry of Urban Development to see what is happening. Finance Minister Nirmala Sitharaman has reached the BJP office at Nariman Point. The depositors of Punjab and Maharashtra Co-operative (PMC) bank are protesting outside the party office.