PMC Bank: Is Your Money Safe in Banks? | Explained by Dhruv Rathee

Hello friends Think about this: First, the government came up with the Jan Dhan Yojana and instructed everyone to open up bank accounts, which you did! Next, the government brought in demonetization and said this was an attack on black money and corruption You faced a lot of hurdles in withdrawing cash when you went to get your notes exchanged But you decided to endure it as it was an “attack on corruption” Then, after that the government proclaimed (our country to be) “Digital India” Keep no cash with yourselves, deposit all of your money in banks and make use of digital transactions And then, a day came when all of your money was deposited in the banks, but you were unable to withdraw any money How would you feel if this happened to you? Today, lakhs of people in our country are facing this situation The Punjab and Maharashtra Cooperative bank customers have been facing this situation for 20 days “I have no property, I live on rent I have been living in Mumbai for 10 years I have been accumulating money for a long time and was going to buy a house this Navratri” “Is the government for our benefit or for our detriment? This government is trying to destroy us! nothing else.” “Modiji, please have mercy. You have had your way. You’re punishing the poor people again and again You’ve been punishing them so many times that it is difficult for them to live Whose government are you running? Who are you here for? I had never thought… I used to be such a huge follower ..that you could do something like this.” “I voted for Modiji… I used to consider him as God… and all my money has been taken Help me! What are you doing? Give me back my money…” “But today, I am crying and I wish to tell all the Modi Bhakts Andhbhakts (blind followers)- all of you are on the road to perdition Their anger is justified Think about it: What if it had happened to you? All your hard earned money- that you’ve accumulated unit by unit, you put it in a bank for safety But one day, you find out that you’re unable to withdraw your own money that you had deposited in the banks Then, most probably, you’d have reacted the same way Especially when you’d find that the politicians in the government were reacting with utter indifference “One minute” -“Move aside!” – “Let me just greet her.” “Go ahead” “I am only greeting you.” “I had a kidney transplant 57 days ago. I don’t have money for my medicines Arun Jaitley ji and Sushma Swaraj ji have passed away Let her go. It doesn’t matter.” First, the limit was set at 1000 rupees Later it was increased to 10,000 and now finally, it is (set at) 25,000 rupees The customers of PMC bank can withdraw upto 25,000 rupees within a period of 6 months But say if someone has an emergency. How would 25,000 rupees suffice? For those who have deposited their lifelong savings in the banks “Give us our hard earned money back!” “We’ve slogged hard to earn them” “Did we make a mistake by voting for you?” “Modiji bring us back our old days!” You know what’s the unfortunate part? It is the second time in the last two years that I’ve made a video, the title of which reads “Is your Money safe in banks?” Prior to this, I had made a video on FRDI Bill on December, 2017 The bill suggested somewhat the same thing: If any bank becomes bankrupt, then the depositors’ money would be used to bail out the bank Fortunately, people raised their voices against it then Pressure mounted on the government and then the Government decided to withdraw the FRDI bill But a similar situation is arising yet again The self earned money of the people is at risk The story of PMC is that of any other typical bank, seen elsewhere The bank gave out loans to a company, the company was unable to pay back and these loans became bad loans/NPAs But despite that, the bank continued to loan out to the company The company, in this case, is HDIL Later, the links between the bank’s directors and HDIL company were unearthed Even BJP links were discovered as to how the directors of this bank were directly related to the BJP One of them is also a direct member of the BJP Later, how the scam was actually carried out, was also revealed This company had created 21,000 dummy accounts in this bank to show how these small accounts had borrowed small amounts of loans It was done to conceal the fact that all these accounts belonged to the same company And a huge amount had been loaned out which they could not repay This is how they managed to stay concealed from the RBI’s auditing Because while auditing, the RBI analyses only a few accounts, not all of them The total amount of money involved in this fraud is 6,500 crores which were loaned out to the HDIL company, which the latter is unable to repay The total amount of money deposited by the customers in the bank is 11,000 crores And what actions have been taken by the government regarding this? Until now, 4 people have been arrested A former managing director of the bank, a former chairman and two members of the HDIL group Another latest report states that a property worth 3,000 crores has been attached by the BED That is, they probably do have 3,000 crore rupees in the form of property which could be utilized to pay back the depositors But it hasn’t been done yet Infact, no guarantee of getting their money back has been provided by the government to the depositors The protesters are merely demanding an assurance of getting their money back But no such assurance has been provided When our Finance Minister addressed a press conference, she tried to deflect this issue (by saying) that the government was not responsible for this. The issue is being handled by the RBI “And cooperative banks, normally, as all banks are, regulated by the reserve bank of India” “But the rural cooperative banks are registered …but the regulation is done by the RBI” “Similarly, the urban cooperative banks of the state are… regulated by the RBI” “The reserve bank is the one which, takes care of… …The Ministry of Finance has got nothing to do with it because the RBI is the regulator” “and they are doing, what is by law, to be done.” Madamji talks of such wondrous things. When the government has to take an emergency fund from the RBI worth more than 1 lakh crore, then they get it pretty easily because they claim that the money of RBI and the government is one and the same But when there are talks about the PMC scam, then the RBI and the government suddenly become separate entities The government owns no responsibility and everything is managed bay the RBI (but) you cannot convince the depositors in this manner This will make the people more wary And it is justified to be afraid Because, observing historically, last time when such a case had happened, in Gujarat in around 2001-02 There was a cooperative bank named Madhavpura which witnessed a similar scam and it was doomed And even today, 17 years later, the bank depositors have still not got their entire money back The process of returning back their money is still ongoing So you can imagine! Should the PMC depositors wait for 17 years to get their money back? And another thing is that there’s a deposit insurance of a mere 1 lakh rupees in our country That is, if you have deposited a sum of 10 lakh rupees in a bank and that bank becomes bankrupt, So going by the rules, you can get a maximum of only 1 lakh rupees out of that If such dire circumstances prevail, then the insurance provided is only of 1 lakh rupees you’d lose the rest of the 9 lakhs If you compare this deposit insurance with the rest of the world’s, you will notice that India has one of the lowest deposit insurances In Europe, this value is a 100 thousand Euros That is, almost 70-80 lakh rupees of your money is safe in the banks in USA, this value is 250 thousand dollars That is, upto 2 crores of your money is safe in the USA banks And in almost all the countries, this value is extremely high. In India, it is a mere 1 lakh rupees Therefore, I’d like to tell the government that if you want the people to feel safe and secure whenever scams like these happen in our country or in a bank becomes bankrupt, then please increase the Deposit insurance This a very paltry sum. Increase it to the level of atleast 50 lakhs so that everyone feels safe Had this deposit insurance been more in our country, then I don’t think that the PMC depositors need to be worried This would have guaranteed that they would get back their money (at all costs) If you agree with me, then share this video so that more and more people are made aware and the government increases this limit The problem here is that there is no effective communication on the part of the government The government wants us to blindly believe in them But what actually happens is that a common man reads in the newspapers that loans worth 1.45 lakh crores have been written off in the past 3 years and every year these loan write-offs are increasing steadily As you can see in the chart, Loans worth 76,000 crores have been written off by the SBI in the past 3 years So a common man will think what happened in the PMC, could also happen to them someday What do they do in such a situation? The government does not let us keep cash at home Neither does the government own up responsibility when our money is deposited in the banks What do we do in such cases? Some people might think that since there is a deposit insurance of 1 lakh rupees, they could split up the money open an account in different banks and deposit 1 lakh in each account for safekeeping but this would be sheer madness Do you really want the people to open up bank accounts in different places and do all this? You could straight away increase the deposit insurance limit and make people feel secure If you would ask for my opinion, then I would give you two suggestions in general The first suggestion is that try and open your bank accounts in public sector and private sector banks in comparison to cooperative banks Because historically, there are more chances of scams in cooperative banks because they almost always have connections with political leaders because they are supervised by the state government There is no direct supervision by the RBI So try and open up your bank accounts in bigger banks like the State Bank of India because the chances of them getting doomed are negligible This has not happened ever, historically My second suggestion would be that you should deposit some portion of your money in EPF/PPF because that is 100% safe in my opinion the money that you put in EPF/PPF There are certainly some disadvantages to that that you cannot withdraw the money before a certain time limit but the money is 100% safe in my opinion because this money goes to the EPFO trust, even though it is under the government But the EPFO trust does not loan out the money to someone else- it does not function like a bank So, your money is safe there If you liked my video and found it helpful then you can support me on Rathee so that I may continue to make such informational videos for you in the future We will meet in the next video Thank you.

100 comments on “PMC Bank: Is Your Money Safe in Banks? | Explained by Dhruv Rathee”

  1. Dhruv Rathee says:

    4:41 How was this Fraud done?
    5:26 What Action did Govt take till now?
    7:10 Gujarat's 2002 Scam
    7:41 India's Deposit Insurance Lowest in World
    9:10 Loan Write offs
    9:58 Solutions for You

    One correction: Some people might say that nothing is 100% safe, so it is slightly wrong to say that PPF / EPF are 100% safe. But there are relatively a lot lot more safe in my opinion. So you can say it’s Almost 100%

  2. Lynd L taylor says:

    0:25 its wrong
    Modi n kha less cash economy cash less ya sara pesa bank ka kbhi nh kha

  3. Aditya Srivastava says:

    India meri jaan hai,
    Magar hamara India mein kya hoga?
    No job,no proper education,no proper health facilities.
    Mere bade hote mai kya karunga?
    Dhruv Bhai aap bahot acha kaam kar rahe ho. Magar phir bhi logo ko internal politics samaj nahi aati.

    "Garibi nahi,Garib hatao" original slogan.

  4. Brown Man says:

    I'm one of PMC bank unfortunate customer with 500000 in fixed deposit but, I don't understand Why people are blaming government, scam was done by HDIL and PMC top official infact RBI should have stepped in early.

  5. darshan sharma says:

    Welldone brother

  6. Aman Mazumder says:

    Modi hein to mumkin hein
    modiji ki jai 💩💩
    ayega to modi hein.. 🤚

  7. tahera laskar says:

    One more video about brain washing election campaign

  8. massive knowledge says:


  9. Narayan Pradhan says:

    Thanks bro

  10. Rajshree Anand says:

    Please tell me sir.. Then where we can deposit our money safely ?

  11. eshwar patel says:

    Har har modi jay jay modi

  12. sabbir nawaz says:

    hone do vikassssssshh🤣🤣🤣🤣

  13. jaypaul deva says:

    People why don't you realize and forecast early to vote f oh r right party to rule the country.

  14. oved gadkar says:


  15. Jaysurya Mukherjee says:

    Achhe din a gaye kisko kisko lag raha hai like karo🤣🤣🤣🤣🤣

  16. Aashish V Rraj says:

    Unn sabhi modi andhbhakto ko gareeb aur asahye logon ki baddua lagi hai , jinhone pehle dusro k dard taqleef aur pareshani ko tamsha banane mein Maza aata thha unhe tarq vitarq k zariye zaleel Kiya Karte thhe.. baaki Jo pehle se jhel rahe thhe woh aur bhi bade ghate mein chale Gaye… vishwas achhi baat hai lekin andhviwas hamesha se khatra paida karta aaya hai… Pehle hi logon ne kah thha rona padega Kal ko pachtaoge agar abhi sachai ko nazar andaaz karke

  17. Koushik Saha says:

    #nomorebjp movement start kar dena chaiye..kaise government may hay yeh..sirf dharm k nam politics karta hay.. uneducated PM… shame..

  18. kittu says:

    ye cooperative banks to hote hi doobne ke liye hain…inme paise jama karaana to h hi bewkoofi

  19. Rajendran Nadar says:

    Switch to govt bank to keep your money safe.

  20. Satish Kumar says:

    This is the decision of RBI
    Not of modi government
    Finance minister normal sitaraman is working on it
    Dude just go to hell!!!!!!!!!
    Bullshit public stunt

  21. Ankit Sharma says:

    Still bjp managed to make their government in Maharashtra and haryana. Number of blind followers is too high in this country. Unko kuch bolo ko abusive language use krne lag jaate hai. Nothing better can happen to this country’s people until they open their eyes and mind. Don’t know what more problems we have to face because of so called BJP government. Hr jagah bjp ne apne log betha diye hai. Instead of removing black money from the country they are making poor people more poorer. And rich people more richer. #StillHopingForABetterFuture

  22. Syed Husain says:

    British Raj bahut acchi tha. Wo India ko loot rahe the lekin khulam khulla. India me growth thi, dharam ki azadi thi aur agar wo zulm karate the to kaha janta tha paraye hain. Unhone India ko divide bhi nahi kiya tha.
    Aj Kitne ache din a gaye- notebandi, gst, adalat, cBI, rbi, Kashmir, howdy modi, Athar, kisan, vyapari, police, naukarshahi, dalit, Muslim, videshi Sab khush hain.
    Apko Pata ki nahi, kahan Pata hai.
    Agar hum Karen to Karen kya, Bolen to Bolen kya!
    Waah modi Ji waah!

  23. Dj Rhythm says:

    C modi

  24. Durga Prasanna panda says:

    If i speak for Modi then i am a Anda bhakth , if i speak against modi i am Anti national . People please vote the right person not media created Hero. Modi is similiar to Role played by Amrishpuri in Nayaak movie. JAGOO Indian Jagoo

  25. NamZ says:

    Why would anyone dislike this video ? 🤨

  26. Ashish Patel says:

    Bhai 1947 se 2014 jo ghotale aur scam huaa hai uspar video banao

  27. Deepak Thakur says:

    Sir ek video insurance companies jaise pearls india limited, sahara India in par bnao
    Ye bahut public ka paisa liye huye baithe hai sebi ne inko apne under to le rakha but public ka paisa refund karne ke liye koi action nhi liya gya abi tak

  28. Rakhi Kumari says:

    Modi hato. Desh bachao. Garibo aur middle class logo ka dushmam hai modi aur amit shah.

  29. Amit Choursia says:

    To bs ye pmc bank ka hai na sare thode hi aise h

  30. Raj pm says:

    Nice propaganda against the modi gov by the khan market gang

  31. kunal dey says:

    Modi KMB

  32. kunal dey says:

    The RBI will be regulating it… But will take money from the RBI.
    Shame on this woman

  33. Noob master says:

    What should we do if we keep money at home then it can be said to be black money so we keep it in banks but our money is not even safe in banks so what indeed should we do?

  34. Shaq says:

    Bro Dhruv gotta meet you and work with you to learn.

  35. MechaNikhil says:

    Modi Chodi

  36. Indrajeet Das says:

    Modi Modi kiyu kar rahe ho ho

  37. Indrajeet Das says:

    Westsnunionbank. Global trust bank ka pesa kaha gaya

  38. Inderjit Singh says:

    Whole point of right wing parties worldwide is to make themselves and their few wealthy friends richer. If you look at right wing parties worldwide last few years, they been running election by spreading hate. And ruining economies for the common people when they win elections.

  39. robin satyawan says:

    Hello Dhruv you are doing a great job. I have request our money is also stuck in one of the bank and no media is covering that story. People don't even know about it. Its Hindu co-operative bank in pathankot. I would request you if you can make a video on that bank it would be wonderful. And people would get to know a few facts as well due to your research.

  40. Gunjan Sharma says:

    I guess no banks are safe, recently someone stole 3588 rupees from my SBI card. Within 10 minutes I called the customer care number and blocked my card immediately. When I asked the customer care person how bank security can be broken when I didn't share my CVV, pin, OTP or any other details with anyone, didn't give my card in anyone's hands; the person said it's an unauthorized transaction, someone swiped your card! That's it!!

  41. Sohel Moyawala says:

    do vote do modi ko modi bhakt maza aa raha hai na n kuch dino aur ruko bhaio abhi to chadi nikalna baki hai

  42. Shayari with Siraj says:

    No country🇮🇳 becomes super power💪 with nuclear☢️ weapons⚔️, great ideology👈👀 becomes super power💪.

  43. Mayur Gupta says:

    You are doing great job man…👍

  44. imran ali says:

    You should have used word 'co-operative bank' instead 'bank' always. At the end of video only you supported public and private sector banks for investing money.

  45. Nikhil Jawla says:

    Anti bjp

  46. Dinesh sharma says:

    What about depositing in post office? Is it safe

  47. rahul channa says:

    Ab to jaag jaao sab ya wait kar rahe ho ki hamre saath aisa kab hoga awaz uthaao government ke khilaaf.

  48. ashok jaswal says:

    Modi shah or Rajnath sab chor hai

  49. pro gamer says:

    1.8k bhakts

  50. Akash Chowdhury says:

    Why are you all crying now? These are the good days you have always wanted.

  51. sukhwinder singh says:

    Sir RRB Bank ke bare me bhi btao
    Kya isme cash deposit safe hai ??

  52. Tapash Chatterjee says:

    The TRUST Of The Public Into BANKS Are At Stake…!

  53. Tapash Chatterjee says:


  54. love g says:

    Yhe sab modi ke vajhe se hua hai aaj log paresan hai aur do gaatiya sarkar ko vote

  55. Shardul Salvi says:

    I am also the victim of pmc Bank crisis

  56. Tushar Sharma says:

    Aur aaj BJP ko janta ki haay lag hi gai…


    All problem one solution " REMOVE BJP "

  58. suman gupta says:

    every body knows their rights but nobody knows their responsibility

  59. I m Andy says:

    My Decision was right to vote NOTA.
    Thank You Dhruv Sir.

  60. Mozidur Rahman says:

    Jio sir I am Salute you Sir

  61. Kurban Ali says:

    Bhai fir bhi log inhe hi chun rahr hai to or inko keya chahiye lage huye hai

  62. anuj singhyadav says:

    Modi or Amit Shah ka aapse me chaker chalra h Bhai vo nhi sunege

  63. Suleman Ansari says:

    Very informative

  64. Chrome Gaming says:

    Except i am happy that 8k people won't vote the budha bhikhari modi

  65. MONZUR UDDIN says:

    Is video ko dislike karne wala andha modi bhakts dunia k sabse beokuf log hain inko sirf modi chaiye rupay se matlab nahi ab tho lgta hain SBI bhi dub jayga agar sab kuch dub jaye fir bhi ye log modi modi hi karenge inko samja na or hati ko underwre lgna 1khi hain mere khyal se jai hind jay bharat hame purana din wapas chaiye nahi chaiye digital india vijay malia ko digital banao nirob modi ko digital koro ham tho bina digital se bhi kush hain isse tho accha kim jon un hain kam se kam bank ko tho nahi lut te

  66. Ravi Sahu says:

    Hello Mr Dhruv

    Sabse pehle to bohot bohot congratulations on reaching to mass audience with good concept videos. I really like the simplicity behind telling a story. Keep enlightening people like me.

    I have a question for you, and this could get interesting.

    Since more than 4 months I am almost daily getting calls from a bank to get a free credit card,
    I have tried many ways to reply them on call.. I even said that I lost my job. Tab bhi nahi baaz aarahe ye log

    how can I make them to not call me for this purpose?

    I dont know how YouTube comments works… This is my first comment on YouTube.. hoping you will find me and somehow reply.

  67. Ankur Ghosh says:

    Abe modi k andhe bhakto kab samjhoge tum log kuwe se niklo aur desh me kya ho raha h janlo… Demonstration was a failure 5% GDP fall as predicted by great economist came true. And 3000 crore ka murti ay hay… tax player ka paisa dal k garibo ko lut k mar raha h govt.
    Ab banking sector ko to modi govt dho dala h ab education system bhi nalle me ja raha h.

  68. Gopal Gorur says:

    PL read

  69. Captain America Steve Rogers says:

    Tu hi bata bhai hum kisko support kare

  70. Syed faisal Hussain says:

    Phr bhi to Modi bhakto ko koi farak nhi padta Bhai

  71. Md HIFZUR RAHMAN says:

    dummy account

  72. Md HIFZUR RAHMAN says:

    6 thousand 5 crore

  73. Vinit Jain says:

    Koi Naya sarkar Lao re

  74. Soumen Senapati says:

    We need joker..boom 🔥

  75. Rajesh Kumar says:

    Kese karenge communication govt se….

  76. RONI 2.O Killer Gaming says:

    Paytm payment Bank is safe. Please tell us

  77. Bibeka Das says:

    Really Sir U R Legend

  78. Mai bhi peeing human says:

    Na khauga.. na khane dunga. Sirf desh bechunga or bank dubaunga 😂😂😂

  79. Mai bhi peeing human says:

    Jaagte raho bolne wala hrr koi chaukidar nhii hota, ho skta h wo choro ko hoshiyar kr rha ho 🤔🤔🤔

  80. Anil Kumar das says:

    Koi bhi itna mehnat se Paisa kamata hai vah Paisa pura Milana chahie wapas

  81. Jilani Shaik says:

    Thanks a lot for enlightenment bro💕💕💕

  82. KISHOR BANSODE says:

    mere bhi pmc me 7802/- hai lene gaya tha to bheed bahut hi jyada thi to me le nahi paya


    Bhai isme modiji ka koi galti nahi hai……..unse toh ye sab karwaya ja raha hai……….aur agli bar jo ayenge unhe bhi aisehi chalna parega………ab ye mat pucho kaun karwa raha hai……..aj kal toh harkoi bara tez ho gaya hai…….conspiracy theories dekho aur khud pata lagao. Mujhe toh abhi aisa lagne laga hai ki shadi-biha yafir naukri gayi bhand me. Baith ke maut ka intejar kia jai. Har Har Mahadev!!

  84. Mayuresh Chavan says:

    भाई आप कह रहे हैं की पैसा स्टेट बँक वगैरह मे रखे. दुसरी तरफ आप दिखा रहे हो की पिछले साल ७२ हजार करोड लोन स्टेट बँक ने राईट ऑफ भी किया है. ये सरकार भी यही चाहती हैं क्या? ये राईट ऑफ होनेवाला पैसा भी हमारी ही टॅक्स से जायेगा ना?

  85. logical indian says:

    मतलब जब कुछ अच्छा हो तो मोदी जी की जय जैसे ही गड़बड़ हुई तो सब आरबी आई पे डाल दिया , वाह वाह

  86. logical indian says:

    भाई में पक्का सपोर्ट करूँगा आपको patreon पे , मै टिवी के फालतू न्यूज चैनल्स से पक गया हूं , वही हिन्दू मुस्लिम , पाकिस्तान और फेकूबाज़ी , असली मुद्दों पे कुछ खबर ही नही वहाँ , धन्यवाद ध्रुव जी

  87. Ank0 s says:

    Don't be beguiled by ths bloody govt. Ths hypocrite govt I must say. Where is modi? Modi is breach of peace. And after some day Indian is Like to be an African countries. Oh god modi ji you should again have to move Himalaya.

  88. One minute Motivation says:

    Create video on network marketing

  89. Anubhav Kasturia says:

    1800 bhakts(andhe) detected!

  90. sp x says:

    I hate this dumb arrogant lady

  91. pawan narnolia says:

    Doing great brother…👍

  92. Ramiz Zaman says:

    Never keep your money in cooperative banks

  93. king king says:

    2014 I really thought after UPA scams NDA will bring some changes,but after a year itself they showed that they failed.

  94. Raghu T says:

    Keeping deposits in cooperative banks is dangerous bro .is it pls tell me.

  95. Harsh Prakash says:

    Good work
    BJP and correupt 😣😣😣😣
    Where is oppogition parties and what the do

  96. raj raj says:

    100rs v kisi ham pata hai to marpit karta hai par sarkar ma co***

  97. s sam says:

    Bhai ye news kahi nahi dikhayi gayi


    Bank me v paisa safe nahi hein, ghar pe rakhe to v demonitisation k dar…karu kya..????

  99. Mohan Kumar says:

    Again Indians should be fight for independence from this BJP government

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