To allow Citizens to withdraw investments from Punjab Maharashtra Cooperative

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Punjab Maharashtra Co-operative PMC bank is among the top 5 cooperative banks of India. PMC Bank had business of Rs 20,000 crore comprising deposits of Rs 11,617 crore and advances to the tune of Rs 8,383 crore at the end of March 2019.
It is a 35 yr old cooperative bank, with 137 branches and present in 6 states and handles over rs11,000 crores of savings by lakhs of trusting, innocent, tax paying middle class citizens.

I am a single parent who had bought PMC shares to save for child's college fund and have no idea what next. Rupees 4 crore of our housing society in Andheri W, which houses senior citzens in over 50% flats, stuck in PMC bank. My 70 year old dad, who doesn't have any pension has his retirement savings as Fixed deposits and shares in PMC. You will read thousands of such stories on Twitter. Lakhs of such tax-paying, innocent Citizens who are not defaulters are not being allowed to withdraw our life savings from the bank. This could render some of us without means to run homes, societies, get daughters married and should not happen. While we all want defaulters and fraudsters to be punished, it is well known that no private bank can give away huge loans without informing RBI.

This petetion is to request Smt Nirmala Sitharaman, Finance Minister and Shri Shaktikanta Das, RBI chief to let Punjab Maharashtra Cooperative depositors to withdraw investments by

Option 1: PMC be merged with another bank so that life savings of lakhs of citizens and jobs of thousands of employees can be saved. Global Trust Bank was merged with Oriental Bank of Commerce in 2004 and Oriental Bank of Commerce was merged with ICICI bank in 2013.

Option 2: Let innocent tax-paying citizens to withdraw their deposits, shares and savings from the PMC bank. Those who have loans, to offset loans against savings.

Option 3: RBI has transferred ₹1.23 trillion of surplus for 2018-19 and ₹52,637 crore of excess provisions identified as per the revised economic capital framework. We request that 1% of surplus reserves funds transferred by RBI be used  to bailout PMC and save life savings of lakhs of tax paying, innocent citizens who have no where else to turn to.

Option 4: One of the National banks be directed to take over PMC so that life savings of lakhs of citizens and jobs of thousands of employees can be saved.

Please support this petetion and do not let middle class, tax-paying Citizens who have invested money in Punjab Maharashtra Cooperative bank, lose our life savings and trust by freezing our savings. Please do not let innocent, tax-paying citizens get punished in this way for crime committed by others.