Millennium Post

PMC depositors' worries to be taken up with RBI: Min

Mumbai: The Maharashtra government will take up concerns of the troubled Punjab and Maharashtra Cooperative (PMC) Bank's depositors with the RBI in a couple of days, state minister Jayant Patil said on Thursday.

Patil, who earlier suggested that the PMC Bank be merged with the Maharashtra State Cooperative (MSC) Bank, said he was told that linking of the two banks was not possible.

"I will be speaking to a senior Reserve Bank of India (RBI) officer in a day or two to address the concerns of depositors. The Maharashtra government sympathises with the PMC Bank depositors," he told reporters after attending an event here marking NCP chief Sharad Pawar's 79th birthday.

"I think merging the PMC bank in some other good bank is the right way (of helping the depositors). We will still speak to the RBI on the issue," he added.

Patil recalled that he had suggested merger of the PMC and MSC banks to the latter's chairman.

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