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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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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Stephanie Hsu and Zosia Mamet talk about their new series Laid, and some of the horrors of dating as millennials.
Imagine a scenario where anyone and everyone you have ever been intimate with begins to die one by one. Is it a curse? If yes, then who is cursed? These are questions that Stephanie Hsu‘s Ruby battles with in the new zany comedy, Laid. Ahead of the show’s release, Stephanie and co-star Zosia Mamet spoke exclusively with HT about their roles, the show’s unique premise, and the horrors of dating as millennials. (Also read: Dune: Prophecy star Emily Watson on working with Tabu: ‘She is a true treasure’)

Stephanie Hsu on her character’s flawed morality

Laid, created by Nahnatchka Khan and Sally Bradford McKenna, is the story of Ruby (Stephanie Hsu), who discovers that all her sexual partners are dying one by one, and she must warn them. Helping her in this unique quest is her best friend AJ (Zosia). The fun thing about Laid is that the protagonists are not the usual likeable characters. “She is totally an anti-hero of our story. I really love that,” says Stephanie, referring to Ruby’s moral greyness. “I am not a perfect person and I love playing flawed characters. But it was difficult. The creators told me that she is a total narcissist. But narcissists don’t think they are one, so I had to figure out a way to love her. For me, playing Ruby was about getting into her psychology and finding the innocent part of her – which is that she just wants love,” the actor adds.

While sitcoms usually add the best friend as the voice of reason trope, Laid diverges from that, with AJ even zanier and more morally ambiguous than Ruby. Talking about playing such a colourful character, Zosia Mamet says, “When you play not-so-likable or zany characters, people don’t believe they are that way. I don’t think AJ wakes up every morning and thinks, ‘I am absolutely crazy’. It’s about trusting the writing and finding an organic way into these characters to make them seem grounded, real, and relatable.”

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Stephanie, Zosia reveal the worst gifts they received from partners

In Laid, Ruby gives the gift of death to the men she is with, even if that is inadvertent. Ask the women about the worst ‘gift’ a partner has ever given them, and the discussions veer into the unusual horrors of modern-day dating. “I got a vintage wooden duck decoy from someone. It was broken, and I thought, ‘What does this say about our relationship?’. They didn’t know me well enough to know if I’d want this but also that they gave me something old and ailing,” Zosia says with a laugh.

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