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Last Updated : Oct 01, 2019 05:41 PM IST | Source:

Do not say extreme things: FM Nirmala Sitharaman responds to PMC Bank depositor's suicide threat

Sitharaman said the Reserve Bank of India is the appropriate regulator, not the Finance Ministry.

Moneycontrol News @moneycontrolcom

Finance Minister Nirmala Sitharaman's twitter discourse turned dire on September 30, when a depositor of the Punjab and Maharashtra Cooperative (PMC) Bank replied to her tweet on the matter with a suicide threat.

In an appeal to the distressed depositor, the finance minister asked him to "not mention/speak/write of such extreme things". (sic)

She further clarified that the Reserve Bank of India (RBI) is the appropriate regulator: "Multi state cooperative institutions do not come under Ministry of Finance, even if they are called banks. RBI is their regulator and they are taking action." (sic)


Sitharaman originally tweeted out links for depositors to access for grievance redressal and enquiries.

To which the fraught depositor replied with: "We expect a quick resolution ... and help otherwise people are bound to consume poison and die" (sic)


The finance minister was also quick to alert the other official channels for cognizance and tweeted her response to the RBI, the Finance Ministry and Nirmala Sitharaman's Office. 

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First Published on Oct 1, 2019 09:00 am
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