New Delhi: Union Minister of State for Finance Anurag Singh Thakur has made a big statement on the Punjab and Maharashtra Co-operative (PMC) bank scam. He said that regulators, auditors and management should be held responsible for such scams. The Minister of State for Finance said in a program that the Reserve Bank of India (RBI), the banking sector regulator, has raised the withdrawal limit for account holders to Rs 40,000 in the case of PMC Bank. About 77 percent of the affected account holders fall under this purview.

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Apart from this, the bank has ensured payment of up to one lakh rupees to all account holders. He said, as far as PMC Bank or any other bank is concerned, it becomes the responsibility of the regulator to look into these matters first. The auditor should be held responsible for such cases. Then, management is responsible for the daily activities of the banks. If someone is involved in fraud, the Enforcement Directorate takes action.

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Answering questions asked on PMC Bank, he said that people have also been arrested and properties have also been seized. Referring to the previous UPA government, the Minister of State for Finance said that during that time, banks have distributed loans fiercely. Ever since the BJP came to power, it has been trying to improve the balance sheet of banks. According to him, the total outstanding of banks in the market until 2009 was Rs 18 lakh crore. It reached Rs 58 lakh crore in 2014 at the end of UPA-2 (2009-2014).

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