Mumbai: For Gullu Sethi, 47, the Punjab and Maharashtra Cooperative (PMC) Bank stood for the pride of Punjab. While the name of the bank includes both Punjab and Maharashtra, it is Punjab's name which comes first, which is why Sikhs held it in high regard, he says.
“Until recently, I was proud this bank offered such good services. But with the crisis, I feel it is now a shameful matter for the entire Sikh community.” A bank, which had 95 per cent of its directors from this community should not have been involved in such an act, feels Sethi. “Punjabis are known more for giving, not taking. This bank has left me with mixed feelings,” he says.
Terming the act of the directors as disgraceful, he adds, “Sikhs are known to share people’s troubles, not for causing people trouble.” He is more worried about the impact this event has had on the community at large, than the crisis he and his family are facing. Sethi is just echoing the sentiments of the community at large. Already various gurdwara bodies have asked the directors that are named in the PMC case to give up their positions in these institutions. The community in the city has excommunicated the directors named in the case.
"I had put away a decent sum for my daughter's wedding in the form of fixed deposits in this bank for over 15 years. My business activities have also taken a hit due to the limited operations of the bank,” he reveals.