Depositiors of Punjab & Maharashtra Co-operative (PMC) Bank, which went under in 2019, have held two protests outside the Reserve Bank of India (RBI) within a span of a few days. These bank customers who have their money stuck in the scam-hit entity are rejecting certain conditions for a draft scheme for amalgamation of the bank, where they will get their money in staggered amounts and the full amount is supposed to be returned in 10 years.

While there are too many technicalities to be discussed here about amalgamation and recourse for depositors of stressed banks, it is vital that the depositors are allowed to get back their money much sooner than 10 years.