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PMC deposit holders to move courts against amalgamation plan

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PMC deposit holders to move courts against amalgamation plan

Victim deposit holders of Cooperative Bank of Punjab and Maharashtra have decided to take the case to court against the implementation of the final merger plan between PMC and Unity Small Finance Bank (SFB) approved by the government on Tuesday.

PMC Bank depositors led by Sahakar Bharati, the cooperative protection agency founded by RBI board member Satish Marathe, have decided to petition the Supreme Court against the scheme. In a press release on Wednesday, Sahakar Bharati argued that the merger was one-sided and unfair to savers.

It also urged the RBI and the government to review the scheme, which proposes instalment payments to all depositors over 10 years, zero interest payments on deposits for five years after March 31, 2021, and payments of up to 2.75 on unpaid deposits % interest after that.

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“Sahakar Bharati will take the lead with PMC depositors/associations and will appeal to the Supreme Court to acknowledge the difficulties faced by PMC depositors due to long lock-up periods of at least 10 years and ridiculously low interest rates ranging from 1% to 2.75%,” News Draft title.

Instead, the agency requires all depositors to have a maximum lock-up period of five years and pay depositors a minimum 6% interest rate during that time. In addition, the Deposit Insurance Guarantee Corporation Scheme (DICGC) was launched to provide liquidity support for full repayment by banks.

It claimed that the stress on PMC Bank was not the usual bank failures, but cases of fraud.

Separately, the depositor group PMC Bank Account Holders Forum has decided to relocate the High Court. “This is our predicament, even after the final plan, it’s bad for retail depositors as well as institutional and long-term depositors. It’s totally against shareholders because it wipes out all equity. The whole plan benefits SFB because they Not only a license, but all of PMC Bank’s assets for charity,” said Dipika Sahani, PMC Bank Account Holders Forum Coordinator.

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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