Dismissing the petitions of PMC bank account holders Supreme court today refused to hear the case and directed them to file the case in Bombay high court. This is regarded as a setback to PMC bank scam victims who wished apex court intervention to direct Reserve Bank of India to revoke money withdrawal limits. Reserve Bank of India (RBI) has restricted the withdrawal limit for depositors of Punjab and Maharashtra Cooperative (PMC) Bank Ltd to Rs 40,000 as of now.
The solicitor general Tushar Mehta conveyed the apex court that the government is concerned with the plea of petitioners and necessary steps would soon be implemented. Earlier the petitioners were relieved as the apex court agreed to hear the case of approximately 15 lakh PMC bank account holders who got their deposits frozen which later was relieved to a restricted withdrawal of up to 40,000 rupees from the scam deterred PMC bank. The latest decision by apex court could be disheartening for account holders with their life savings blocked.
Post Your Comments