PMC Bank Scam: DSGMC Chief Criticises RBI, Puts Forward Demands

General News

DSGMC chief Sirsa on Monday lashed out at RBI for the PMC bank scam and demanded that it suspend PMC's operations and also scrap the withdrawal restrictions

Written By Jitesh Vachhatani | Mumbai | Updated On:

The Delhi Sikh Gurdwara Management Committee, in a media briefing on Monday, has lashed out at the Government and the Reserve Bank of India (RBI) for the ongoing PMC crisis. Manjinder Singh Sirsa, leader of the Shiromani Akali Dal and chief of DSGMC said that around Rs 100 crores in the bank belongs to the Gurdwaras of Mumbai solely. Furthermore, he added that while they were gearing up to celebrate the 550th birth anniversary of Gurunanak Dev Ji, they were told that they could not withdraw more than Rs 25,000 for 6 months. He also demanded that the concerned authorities suspend PMC's operations, scrap the restrictions on withdrawals, and curb the assets of fraudsters. 

DSGMC chief demands removal of withdrawal limit

In the media briefing, Sirsa said, "The money that we invested, even by the Delhi Sikh Gurudwara Committee, we invested it in a bank for the safety, we did not give it a stranger walking past us neither did we invest it in any finance company to increase the amount. We invested our money in the same banking system that is being governed by the RBI and the bank which had an authenticated RBI license. We weren't greedy, we just deposited our money in the bank with the same thought our money will remain safe over here but today we get to know that our money was in the hands of thieves."

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He also criticised the government and the RBI for the imposition of restrictions on the withdrawal limit. The DSGMC chief said, "People who borrowed loans of around Rs 4000 crores, 2500 crores invested it into their companies for their own well-being and our hard-earned money without any guarantee and without any assets was given out to them. Today, our hard money was deposited in a bank authenticated by the RBI with proper rules and regulations. Blocking our own money is wrong. RBI, ED, and the Government should investigate the bank and its assets but the responsibility of safety of our money is of the Government's." Sirsa also put forward DSGMC's demands through the media briefing.

"RBI should dispose the ban immediately and RBI should take over the deposits that the bank owns. All the operations should be suspended and the RBI should take the bank's operations under itself. All the assets and deposits belonging to the bank should be insured by the RBI," the chief demanded.  

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"Plenty of organizations and Sikh Sabhas from Mumbai have contacted me in the last 10 days, saying that Gurupurab is just around the corner and these banks have lost our hard-earned money. We have all gathered here today because we want the RBI to take a strong stand on this issue and suspend all PMC operations. The restrictions imposed on withdrawal should be waived off immediately. People will lose their trust from the banking system," Sirsa added. 

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