Mumbai: The sudden restrictions imposed by the Reserve Bank of India (RBI) on New India Bank have left thousands of customers in distress. In response, customers came together in protest against the government, expressing their outrage over the alleged financial misconduct. Congress leader Yuvraj Mohite accused BJP MLA Ram Kadam of orchestrating the mega fraud that came to light recently.
Accusing the Bharatiya Janata Party (BJP) of orchestrating the bank’s downfall with the help of the RBI, he and the customers demanded immediate action against BJP MLA Ram Kadam, whom they held responsible for the scam, as reported by Saamana. They also warned that they would take the battle to the streets and the courts, ensuring that those responsible are held accountable.
Allegations Against BJP MLA Ram Kadam
Congress leader Yuvraj Mohite criticised the RBI, stating that the Rs 122 crore fraud was only the tip of the iceberg and the real scam could be worth hundreds of crores. He stated that Kadam controlled the banks' operations through shadow cabinet.
He further accused Ram Kadam of pressuring bank officials into issuing illegal loans and questioned why only General Manager Hitesh Mehta was arrested while others involved remained untouched. Mohite claimed that the RBI had lost its credibility by failing to act transparently in the matter.
New India Co-operative Bank, known as a financial lifeline for common workers and labourers, saw its operations abruptly halted by the RBI on Thursday night. The restrictions, imposed without prior notice, will remain in effect for six months, causing panic among customers across Mumbai and Thane.
The following day, reports emerged of a Rs 122 crore scam and illegal loan disbursements made under political pressure from Ram Kadam. In response, over 200 customers gathered at Keshav Gore Smarak Trust in Goregaon West to plan their next course of action. Representatives from various parts of the city, including Dadar, Andheri, Borivali, Kandivali, Mira Road and Thane, participated in the meeting.
Widespread Protest In City By Irked Customers
Customers took their protest to the Goregaon police station, demanding immediate action against Ram Kadam and a thorough investigation into his involvement. Elderly citizens and women joined the demonstration, questioning why the government and RBI remained silent despite such a large-scale financial fraud.
To recover their savings, customers have now decided to take the legal route and file a petition in the Bombay High Court. Banking experts assured them that if necessary, they would escalate the matter, demanding justice through judicial intervention. Calling for a massive protest march to the RBI, customers have resolved to continue their struggle until every rupee is returned.
