PMC account holders protest outside Bombay HC

Punjab and Maharashtra Co-operative (PMC) Bank depositors staged a protest outside Bombay High Court on November 19. They demanded the money to be refunded as soon as possible. Hearing in PMC Bank matter has been adjourned till December 4 after RBI today filed a detailed affidavit regarding steps to be taken for protecting the interest of customers. RBI restricted the activities of the PMC Bank for six months and asked it not to grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits after an alleged fraud of Rs 4,355 crore came to light. The Enforcement Directorate (ED) has seized and identified movable and immovable assets worth more than Rs 3,830 crore owned by HDIL in connection with the case.