Members of the community who were part of the meeting on Wednesday, said that all members of the community felt that the directors should be removed
The office-bearers of Sri Guru Singh Sabha, Dadar, after a meeting with the arbitrator appointed for the Punjab & Maharashtra Co-operative Bank (PMC), said that they will be reaching out to the community over the bank's crisis.
The Sabha had a meeting with the arbitrator on Thursday in which the arbitrator asked them to help revive the bank and request members of the community to not withdraw their money once the bank resumes operations for two to three years. The meeting comes even as there was division within the Sikh community over the PMC directors being excommunicated and banned.
"Today, we had a very fruitful meeting with the arbitrator. He said our bank can be revived and has asked for support from the community saying that people must not panic and withdraw money. He wants us to talk to the community about the same," said Raghbir Singh Gill, president of the Sabha after reports PMC directors being shunned. The arbitrator could not be reached for comment.
He added, "We cannot excommunicate someone till the person is proven guilty. Our stand was very clear the day we called for a meeting that if someone is proved guilty, then we will penalise them. Wednesday's meeting was not called by us. We have also told people who said the same that they must not give any statement on behalf of the Sri Guru Singh Sabha. Only the president or the secretary can give one. We had already held our meeting on Tuesday."
Division Over Future Course Of Action
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- Members of the community who were part of the meeting on Wednesday, said that all members of the community felt that the directors should be removed
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- “The meeting was attended by people from the community and institution heads. In that meeting, it was decided by the people that they should be removed,” said Ram Singh Rathor, president of United Singh Sabha, which claims to have a larger affiliation
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However, members of the community who were part of the meeting on Wednesday, said that all members of the community felt that the directors should be removed. "The meeting was attended by people from the community and institution heads. The organisations that attended included United Singh Sabha, Guru Nanak Hospital, and Guru Nanak Vidyut Society, Supreme Council of Gurudwaras and many Gurudwaras of Mumbai. In that meeting, it was decided by the people that they should be removed," said Ram Singh Rathor, president of United Singh Sabha, which claims to have a larger affiliation.
"There were very strong opinions over them being boycotted. The resolution to boycott will now be taken up in our board meeting. People felt that such a scam cannot happen overnight. Our money to the tune of Rs 18 crore is also stuck," said Manjit Bhatti, president of Guru Nanak Vidyak Society.
(Anil Oberoi, Sanjay Puri who have their life’s savings deposited in the bank)
Money being stuck when it is needed the most was a sentiment echoed by individual investors too. They said that the crisis is reminding them of the days when they came as refugees. "I had sold my property and saved the money in the bank. The total amount including FDs and the savings account would be around Rs 25 lakhs. I am facing financial problems and had kept the money to pay rent and purchase property," said businessman Anil Oberoi, a resident of Sion Koliwada.
"I have Rs 30 lakh in the bank. These are my life's savings which I had kept as a fail-safe. We are back to a daal-roti stage in our lives," said Sanjay Puri, another resident of Sion Koliwada.
Meanwhile, Mumbai's consumer body Mumbai Grahak Panchayat is carrying out an online survey of PMC bank depositors to take up their cause with the Finance Ministry.
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