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PMC Bank crisis: Another distressed depositor suffers heart attack, passes away

BusinessToday.In     October 15, 2019

Another distressed Punjab and Maharashtra Co-operative (PMC) Bank depositor has died on Tuesday. This is the second PMC Bank depositor to have died of heart attack in two days. Fattomal Punjabi, 59, was a resident of Mulund who suffered the cardiac arrest at 12:30 pm on Tuesday.

As per reports, 95 per cent of people living in Mulund colony have accounts in PMC Bank. 

On Monday, an account holder at the PMC Bank who had deposited over Rs 90 lakh with the troubled bank had died in Mumbai. The deceased, Sanjay Gulati, suffered a heart attack hours after he attended a protest by distressed customers outside a Mumbai court. The Oshiwara resident went to the protest along with his 80-year-old father.

Sanjay Gulati was an engineer with Jet Airways and had lost his job when the airline shut operations. He has a wife and two children, one of who is specially-abled.

On Monday, the Reserve Bank of India had increased the withdrawal limit for customers to Rs 40,000. The bank said that the move will allow 77 per cent of customers to withdraw their entire account balance.

The RBI had initially capped the withdrawal limit at Rs 10,000, which was increased to Rs 25,000.

Also read: PMC Bank withdrawal limit raised to Rs 40,000 from Rs 25,000: RBI

Also read: PMC Bank case: ED seizes, identifies assets worth Rs 3,830 crore

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