PMC is in bad health allegedly due to its exposure to near-bankrupt realty player HDIL, to which it has loaned over 70 per cent of its Rs 9,000 crore in advances.
"Government has been on its toes in terms of bringing the assets of these promoters (indulged in fraud) of the bank...process will not suffer for want of enough assets which can eventually help paying back customers. In fact my appeal to Governor this afternoon was if there are so many assets, is there anyway RBI can expedite in terms of paying to customers who are genuinely suffering," she said.
She also said the government could consider raising deposit guarantee limit from existing Rs 1 lakh.
If it happens it will be through Parliament, she added.
Deposit Insurance & Credit Guarantee Corporation (DICGC) insures each depositor in a bank up to a maximum of Rs 1 lakh for both principal and interest as on the date of liquidation/cancellation of the affected bank's licence or from the date of amalgamation/merger.
She further said that she had discussion with the RBI Governor that if deposit guarantee of Rs 1 lakh can be released instantaneously.
But the governor informed that the deposit guarantee is released after the bank is closed and and when it is a going concern, she added.
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