PMC Bank Depositors Still Distraught

IT is very sad and distressing to note that the RBI has not yet done any impact assessment of the challenges and distress faced by lakhs of depositors of the Punjab and Maharashtra Co-operative Bank due to the extended moratorium imposed on bank withdrawals to December 22. On the other hand, the RBI has gone soft on borrowers from banks, by extending the moratorium for repayment of loans by six months, and is even considering a further extension. It is a shame that even in these hard times of the pandemic, the RBI has shown little sensitivity to the plight and woes of PMC Bank depositors who have no access to their life savings even after 10 months of the imposed restrictions. Thirty-five depositors have already ended their life. The Delhi High Court has now asked the RBI and the Centre to respond to the urgent plea seeking release of up to Rs 5 lakh without conditions to the distressed depositors of the bank. It is also strange that no solution has yet been put forth by the RBI and the Centre to restart the PMC Bank even after several banks came forward with proposals of a merger. This is in sharp contrast to how the Yes bank was revived with the nod from the Centre in a short span of just 12 days.


Low-key Saptah Celebrations

THE COVID-19 pandemic has been taking its toll on Mormugao taluka especially in Vasco town.  The virus has claimed several lives in the taluka, which has reported maximum number of positive cases in the state.  Consequently the annual Lord Damodar Saptah in the town will be a low-key affair this year. The saptah has been celebrated for the last 121 years. But this year, the Vasco Saptah central committee has decided not to allow devotees into the temple. Moreover, police will not allow the movement of vehicular traffic and pedestrians along the Swatantra Path Road and the vicinity. Rituals will be telecast on local cable channels wherein devotees would be able to take ‘virtual darshan’. There is no other way but to restrict the celebrations as the COVID situation does not permit congregation of even a small group.


Reach Out To Dairy Farmers 

A group of dairy farmers in Maharashtra poured the milk on the road, demanding increase in milk procurement prices. The Maharashtra government should look at the protest with grave concerns. The rural economy has been hit hard by the ongoing COVID-19 pandemic. The dairy farming industry is a key supportive component of the rural economy, providing livelihood to lakhs of people. The Maharashtra government should take appropriate steps in the interest of dairy farmers and resolve the issues raised by them.