Congress & BJP urge CM Thackeray for the early merger of PMC Bank

Congress and BJP delegations on Wednesday sought the Maha Vikas Aghadi government's intervention to provide much-needed relief for the 16 lakh depositors of the scam-tainted PMC Bank through early revival or its merger. Congress party delegation led by a senior minister Balasaheb Thorat and former MP Eknath Gaikwad urged the Chief Minister Uddhav Thackeray to examine the feasibility of the merger of PMC Bank into any other financially sound bank and hold an early meeting with the Reserve Bank of India.

BJP leader Kirit Somaiya met a senior minister Jayant Patil and urged to expeditiously complete PMC Bank merger with the Maharashtra State Cooperative Bank. He reminded Patil's announcement saying that MSCB must have completed due diligence and must have submitted to the RBI and the state government.

Congress party's former legislator Charan Singh Sapra, who was part of a delegation comprising PMC bank depositors, told FPJ,''We appealed to the CM to urgently take up the matter with the Prime Minister for an early decision on merger with public sector banks on the lines of similar mergers in the past. RBI needs to take a press conference and declare that the deposits of all 16 lakh depositors are secured in the bank.''

Congress leaders and Somaiya in their separate representation said total deposits with PMC Bank are worth Rs 11,000 crore and the fraud will be between Rs 5,000 crore and Rs 7,500 crore. They have alleged that loans and advances were extended by PMC Ban in a nontransparent manner to HIDIL.

Also Read: Mumbai: State bats for merger of PMC Bank into MSCB