NEW DELHI: Nationalist Congress Party chief Sharad Pawar on Monday met Minister of State for Finance Anurag Thakur, over the issue of revival of Punjab and Maharashtra Co-operative(PMC) Bank.
"Had a meeting with the Union Minister of State for Finance, Anurag Singh Thakur in New Delhi to raise the issue of revival of PMC Bank. We had a constructive exchange of views on the topic." Pawar tweeted.
Had a meeting with the Union Minister of State for Finance, Shri Anurag Singh Thakur (@ianuragthakur) in New Delhi to raise the issue of revival of PMC Bank. We had a constructive exchange of views on the topic. pic.twitter.com/5WNDV1CPEF— Sharad Pawar (@PawarSpeaks) January 13, 2020
The Reserve Bank of India (RBI) on December 30 had released a draft circular on limits on exposure to single and group borrowers and revision in priority sector lending targets for urban cooperative banks (UCBs).
The RBI move came after the recent Punjab and Maharashtra Cooperative (PMC) Bank debacle which left thousands of depositors clamoring for withdrawals amid reports of major financial irregularities, failure of internal control and systems of the bank, and wrong or under-reporting of its exposures under various off-site surveillance reports.