Oct 17, 2019

PMC Bank Scam: Beyond the headlines, the missing links are still unanswered till date

Credit: Third party image reference

The biggest scam of 2019 in Indian banking sector has traumatized the Depositors of PMC Bank on 24th September still has many questions unanswered.
While all the concerned Govt. agencies are on their toes to unveil the whole nexus and people behind the curtains, the perpetrators had full team of fraudulent minds working on this act from many years with no sign of any misconduct and wrong doing.
The missing links in this whole episode are as follows:
  1. Neither RBI nor Central or State Governments have assured PMC Bank Depositors that every single penny of Depositors is safe and shall be released for withdrawals.
  2. It's still not clear when will the seized properties of HDIL group and its management be auctioned.
  3. Till date Board of Directors of PMC Bank are not yet questioned by any of the Government agencies.
  4. Who is responsible for the Deaths of 3 innocent Depositors of PMC Bank.
  5. The names of employees are yet to be revealed who are were assigned to work on this act of fraud appointed by Former MD Joy Thomas.
  6. Update or announcement from Ministry of Corporate Affairs is still awaited as the Co-operative Banks come under dual control RBI and Ministry of Corporate Affairs.
The sufferings of around 16 Lakhs Depositors is increasing by every second ticking as what will happen with their hard earned monies. Almost every day a new story is surfacing but still no deadline or date has been announced by Authorities which again is a matter of greater concern for PMC Bank Depositors.

The Depositors are looking at RBI and Government as the steps taken are at a rapid speed to clear the road ahead on releasing their Deposits.

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