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Delhi HC Directs RBI To Consider The Difficulties Faced By Depositors Due To Moratorium On Withdrawal From PMC Bank [Read Order]

Karan Tripathi
29 May 2020 1:55 PM GMT
Delhi HC Directs RBI To Consider The Difficulties Faced By Depositors Due To Moratorium On Withdrawal From PMC Bank [Read Order]
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Delhi High Court has directed the Reserve Bank of India and the Central Government to appreciate the difficulties faced by the senior citizens with respect to moratorium on withdrawal from Punjab & Maharashtra Bank and decide the same in accordance with law, rules, regulations and government policy.

The Division Bench of Chief Justice DN Patel and Justice Prateek Jalan further directed that upon receipt of any representation from any individual or

group of depositors in this regard, the decision shall be taken by the concerned respondent authority within a period of four weeks.

The order has come in a PIL filed by Bejon Kumar Mishra highlighting the difficulties faced by senior citizens due to the moratorium imposed by RBI on the withdrawal of deposits from PMC Bank.

The Petitioner had sought court's direction to the RBI to ease out the moratorium for withdrawal of deposited money of depositors from PMC Bank during the pandemic of COVID19.

The Petitioner had demanded for a direction to be issued to the RBI for ensuring the withdrawal of at least the insured amount of Rs 500000/- immediately to cater to the medical and other urgent needs of depositors of PMC Bank during such health crisis.

In addition to this, the Petitioner had asked for an interim financial package for senior citizen depositors who are facing several health issues including various urgent needs in the interest of justice.

Click Here To Download Order

[Read Order]



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