A Twitter user named Rakesh Bhat, replied to the tweet saying ‘people are bound to consume poison and die’.
Finance Minister Nirmala Sitharaman took to Twitter to share out links for depositors of PMC Bank to access for grievance redressal and enquiries. (File Photo: IANS)
Finance Minister Nirmala Sitharaman’s tweet on Punjab and Maharashtra Bank crisis took a dramatic turn on Monday when a Twitter user suggested “suicide” as the only way out. She urged him to not write of “such extreme things.”
The Reserve Bank of India (RBI) on September 23 has put limits on the amount that can be withdrawn by depositors from the Mumbai-based Punjab and Maharashtra Cooperative Bank Ltd (PMC bank) as it had been put under regulatory restrictions by the RBI owing to irregularities disclosed to the apex bank. Initially depositors were allowed to withdraw a sum not exceeding ₹1,000 of the total balance which was later raised to Rs 10,000. The Urban Co-operative Bank will also not be able to grant or renew any loans and advances, make any investment, incur any liability. The restrictions had triggered protests by depositors and account holders of the bank.
Sitharaman on Monday tweeted on the issue, “On the Punjab and Maharashtra Cooperative Bank matter, a press release through the @PIB_India Depositors can access the website pmcbank.com for any grievance redressal and call on toll free number 1800223993 for enquiries.”
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On the Punjab and Maharashtra Cooperative Bank matter, a press release through the @PIB_India. Depositors can access the website https://t.co/PERlOr7HUO for any grievance redressal and call on toll free number 1800223993 for enquiries. https://t.co/sTL8TiGUUX
— Nirmala Sitharaman (@nsitharaman) September 30, 2019
A Twitter user named Rakesh Bhat, replied to the tweet saying “people are bound to consume poison and die”.
He tweeted, “Dear Madam, nothing new in this. We expect a quick resolution. There are ample ways to handle the crisis and this is least expected from GOI and RBI. Please accept this as the challenge and help otherwise people are bound to consume poison and die.”
Dear Madam, nothing new in this. We expect a quick resolution. There are ample ways to handle the crisis and this is least expected from GOI and RBI.Please accept this as the challenge and help otherwise people are bound to consume poison and die.Rakesh Bhat,7028862699
— rakeshbhat2011 (@rakeshbhat2011) September 30, 2019
Finance Minister replied to Bhat and appealed to the distressed depositor, “I appeal to you not to mention/speak/write of such extreme things. Multi state cooperative institutions do not come under Ministry of Finance, even if they are called banks. @RBI is their regulator and they are taking action.”
I appeal to you not to mention/speak/write of such extreme things. Multi state cooperative institutions do not come under Ministry of Finance, even if they are called banks. @RBI is their regulator and they are taking action.
— Nirmala Sitharaman (@nsitharaman) September 30, 2019
Customers were shocked on September 24, when a message from the bank revealed that it has been put under directions by RBI for six months.
The PMC Bank was founded in 1984 in a small room in Mumbai; the banks have a network of 137 branches in six states and ranks among the top 10 cooperative banks in the country. The bank has branches in Maharashtra, Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh, and Madhya Pradesh.
Several account holders of the Bank had filed a joint police complaint against the bank’s chairman and its directors for alleged misappropriation of funds of the customers.
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