Save middle class 1st not corporates, HNIs foreign investors #PMCBankCrisis #YesBankCrisis

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#PMCBankCrisis 9.2 lac depositor families have no access to their life savings for daily expenses, hospitalization and other emergencies due to Sec 35A imposed on the bank since September 23, 2019. Protests on the streets have evoked no concrete response from the government of India or RBI while over 26 deaths have been reported during the last 6 months. Pertinent to note that until March 2019 RBI gave an A grade rating to PMC Bank and in Nov 2019 claims in the High Court of Mumbai it was fooled by bank staffers in connivance with the defaulters. So 9.2lac families are paying the price for RBI's folly?

#YesBank placed under moraritorium by RBI and in less than 2 weeks a resolution plan in place and restrictions to be lifted as early as Mar 16, 2020 in less than a month. Foreign investors, HNIs, corporates are heavily invested in Yes Bank and the government on Day 1 itself assures that this will be resolved. The same government remains tight lipped about the fate of #PMCBank victims.

Isn't this a case of double standards? Are #PMCBank victims less Indian or children of a lesser God? Why does the middle class have to bear the punishment each time while politicians and RBI care a damn. RBI says banking system in India safe and depositors need noty worry, then why after 6 long months there is no resolution plan for #PMCBankCrisis #PMCBank today and it could be your bank tomorrow. It's high time India says ENOUGH