PIL in Delhi HC seeks lifting of restriction on cash withdrawal from PMC bank
The Delhi High Court on Friday (November 1) issued a notice to the Centre, AAP government and the Reserve Bank of India (RBI) over PIL filed in the Maharashtra Cooperative (PMC) Bank case. The PIL sought removal of restrictions on cash withdrawals from the scam-hit bank.
A bench of Chief Justice D N Patel and Justice C Hari Shankar issued notice to the Finance Ministry, Delhi government, RBI and the PMC bank directing them to indicate their stand on the plea which has sought 100 per cent insurance cover for customers’ money deposited in the bank.
The PMC Bank has been put under restrictions by the Reserve Bank of India (RBI) following the unearthing of a ₹4,355-crore scam.
Deposit withdrawals have been capped at ₹40,000 over a six-month period, causing panic and distress among depositors.
Several PMC bank customers have lost their lives due to health complications and stress since RBI’s restrictions on the bank’s activities.
(With inputs from agencies)