PMC Bank: 12 directors have close ties with BJP, co-director, Rajneet Singh BJP member

As account holders of the PMC Bank fret over RBI restrictions, it has now come to light that as many as twelve of the directors of the bank have close ties with the Bharatiya Janata Party, reported Mumbai Mirror. Rajneet Singh, a co-director, is a party member who is said to now be seeking a ticket from Mulund for the assembly elections. He is the son of MLA Sardar Tara Singh, who is a four-time MLA from BJP. Rajneet wants to replace his 75-year-old father; and had tried to bag a ticket in the 2017 BMC elections, but was defeated by Kirit Somaiya with a really small margin.

Rajneet Singh is currently serving his third term as the director of PMC bank in the last thirteen years and claims to not know anything about any of these loans. "I am not involved in the day-to-day activities of the bank and am not aware of any loan disbursal. We are requesting the RBI to relax the withdrawal cap. We request the customers not to panic,” he said as reported by Mumbai Mirror.

Sardar Tara Singh, too, repeated that nobody had anything to do with loan disbursals. "He (Rajneet) is just a director. Loan disbursals are handled at the level of the bank manager," he said. The Congress, however, stated that the bank directors are likewise accountable.

"Almost all of the bank's directors are linked with the BJP. They are answerable for the adversities handled by customers. They expended loans to non-paying assets, HDIL, real estate companies and have wrought audit reports. The RBI must lift the limitations and permit individuals to draw their hard- earned cash," Sanjay Nirupam, previous city Congress chief was quoted as saying by Mumbai Mirror.