In a major development on Thursday, the top four leaders of Sahakar Bharati held an hour-long discussion with Union Finance Minister Ms Nirmala Sitharaman and raised several issues plaguing the co-operative sector for long.
Sharing the content of the discussion with the FM, Sahakar Bharati General Secretary Uday Vasudev Joshi informed Indian Cooperative that the Minister gave patient hearing to the issues raised by Sahakar Bharati and told them to come back in a fortnight with concrete proposals so that the govt can work on them.
Though there are many issues we raised which were followed by mailing of a wish-list for the sector to the Minister, we primarily focussed on 4 points, underlined Joshi. First of these was the issue of 80P of credit co-ops which has seen a large number of court cases across the states.
Based on the minister’s reaction, we got a feeling that the FM is keen to resolve the issue of 80P for, at least, the credit co-ops. She asked us to prepare a concrete proposal and come back within a fortnight. “We wish to bury the ghost of 80p for once and all”, added Joshi.
Second issue raised prominently by the team related to the issue of Capital Adequacy for the co-op sector. Quoting experiences of cooperatives across the world, the Sahakar Bharati demanded that the co-ops of the country be allowed to issue shares.
Sahakar Bharati also raised the issue of PMC Bank with the Minister and sought her support for some of the initiatives taken by the RSS body in the matter. “We are trying to create a platform for revival of the PMC Bank in which all the small groups active in resolving the PMC Bank crisis are brought together to make a focussed attempt”, informed Joshi.
Ram Desh Pande, a CA has been nominated as the coordinator for the group which is filled with representatives of depositors, investors and other stake-holders. Joshi is also a part of the group.
The Minister sounded very enthusiastic to the idea and assured to handhold the group and help in all manners possible to resolve the issue of PMC Bank, said Joshi.
Besides these issues, the memorandum submitted by the team touches upon almost all the sectors of cooperative business. While the Minister assured of quick action on the above three points in a time span of a fortnight, she sought one month for the govt to deliberate on other issues.
Other issues included PACS, dairy, fisheries, weavers’ co-ops and several others. The detailed list is given in a separate story.
The four members who were part of Video-Conferencing with the minister included Satish Marathe, Ramesh Vaidya, Uday Joshi and Sanjay Pachpor. The govt side was represented by the Minister alone. Untrained in media skills, Sahakar Bharti team took no photographs of the meeting, sadly.
Sir, thanks for the Pmc Bank depositors initiative with the Finance Minister.
I’m a Pmc bank depositor. My hard-earned life savings are stuck up in Pmc bank. I have no other source of income for livelihood and children education.
I’m a cancer survivor and my age is 52 years. I m unemployed since last 3 years.
Sir, our earnest request to you to please intervene in Pmc bank matter and request Finance Minister to merge Pmc Bank with nationalised bank immediately so that we all depositors would get our entire money back with accrued interest.
So far 60+ died. Many are ailing including me.
Please consider our case sympathetically on humanitarian ground and return our hard-earned money immediately.
Thanks
Kishor Modsing
Dear Sirs,
I do not want to repeat same thing again. Many depositors have already said the money which we have deposited in the bank are our heard earned money. I have kept it for my retirement life. Rest you and government can understand. It’s a humble request for revival of PMC bank or merge with nationalise bank.
Inefficient audit By RBI auditors or corrupt auditors are responsible for allowing to run the scam by directors of bank.
Hence it’s Government’s prima duty to bear the loss as their own staff failed to detect or control the rules and regulations of Co.op. Banks.
It’s injustice to small savings and depositors of bank and not to allow them to withdraw their fund . First they are cheated by bank directors and now by government not giving justice.
Thank you very much sanskar Bharti to raise our issue of PMC Bank depositors with FM as we all are mostly Sr citizens in their dependent on their hard earned money keeping in bank for their day to day expenses and Shem their lifelong kitty stuck up in such a fraud of PMC Bank then they don’t have any alternative rather than going for SUICIDAL ACT in ending their life such 60 members have already done in past one year since restricting withdrawal of money from PMC Bank since September 2019 ie almost more than 1 year time
I am 68 year retired PSU GM and my 15 lac retired kitty is stuck up in PMC Bank I pray to God for giving “Sadbuddhi” to FM And RBI to solve this Problem.
Please, it’s a request to settle our hard earn money as early as possible. We are unable to withdraw money as it is urgently required for education and medical and necessary requirement. It’s almost 1 year and nothing has come out of this. We as Indian Citizen has trusted BJP GOVT. and voted everytime bcoz they always think for good and help poor and needy people. But this time all proved wrong . Its again festival season and we are unable to withdraw money which is earned by us and paying tax. Cant anyone solve this problem at earliest. In this country not a single politician there to look into this matter seriously. We are eagerly waiting for resolution problem and want to see smiles on all PMC DEPOSITORS.
97 year old Sushilabai Sanjiva Pai may be the oldest PMCB victim. Her as well as family members’ entire life savings are blocked in PMCB.monthly income was the main source of livelihood.Applicatiin made in June 2020 for additional funds on hardship ground was rejected outright with the remark” no critical ailment like cancer,heart or lung and no hospitalisation” What about age related diseases like depression, stress, mental agony, diabetes,skin- urinary problems, loss of hearing,eyesight and balance,frequent falls, sleeplessness, digestive problems,need for wheel chair, maid attendant for daily chores, frequent medical check up, home visit of doctor etc? They are not only expensive but also create untold suffering and bickerings in the family.
Will she get her money during her life time?
What is a welfare state where aged and vulnerable citizens are treated with disdain and made to beg for their own money?
How can ” sada vatsale Mathrubhumi” prosper with the curse and suffering of such people?
I feel guilty and ashamed and curse myself for blindly trusting the political slogan” SAB KA SAATH SAB KA VIKAS”
97 year old Sushilabai Sanjiva Pai may be the oldest PMCB victim. Her as well as family members’ entire life savings are blocked in PMCB.monthly income was the main source of livelihood.Applicatiin made in June 2020 for additional funds on hardship ground was rejected outright with the remark” no critical ailment like cancer,heart or lung and no hospitalisation” What about age related diseases like depression, stress, mental agony, diabetes,skin- urinary problems, loss of hearing,eyesight and balance,frequent falls, sleeplessness, digestive problems,need for wheel chair, maid attendant for daily chores, frequent medical check up, home visit of doctor etc? They are not only expensive but also create untold suffering and bickerings in the family.
Will she get her money during her life time?
What is a welfare state where aged and vulnerable citizens are treated with disdain and made to beg for their own money?
How can ” sada vatsale Mathrubhumi” prosper with the curse and suffering of such people?
I feel guilty and ashamed and curse myself for blindly trusting the political slogan” SAB KA SAATH SAB KA VIKAS”
Only solution is infusion of additional capital and revival or merger with a strong public sector Bank.
Thanks team sahakar bharti…🙏
Hope you will surely resolve issue of Adarsh Credit..
Like many thousand depositors of PMC bank I’m also a victim and unemployed for more then 10years. Whatever my wife’s earnings n my mother gave me before death I kept in bank. We are begging for more than a year on deaf Govt. they have series more then the value of fraud but still rbi not doing anything.
Please get the money for depositors ,they are dying,committing suicide but govt unmoved shocking. Please help us.