PMC Bank crisis: Another depositor dies of heart attack, third death in a week

Meanwhile, the Supreme Court has declined to hear a petition filed on behalf of PMC depositors seeking lifting of restrictions of cash withdrawals imposed by the RBI.

This is the third such incident within a week where a depositor died due to the heart attack. (Representational image)
This is the third such incident within a week where a depositor died due to the heart attack. (Representational image)

PMC Bank crisis: Another account holder of troubled Punjab and Maharashtra Co-operative (PMC) Bank passed away on Friday. The deceased has been identified as Muralidhar Dhara, who is a resident of Mumbai. According to reports, Dhara took the extreme step after he could not withdraw money from his bank account for his treatment.

This is the third such incident within a week where a depositor died due to a heart attack. Earlier this week, Fattomal Punjabi, a depositor with PMC bank’s Mulund branch, died of a heart attack at around 12.30 pm when he was on the way to the bank to withdraw money. Fattomal was immediately rushed to nearby Gokul hospital for treatment but he was declared “brought dead.”

In a similar incident on October 14, another person identified as Sanjay Gulati too died of a heart attack when he was having dinner with his family. Gulati, a resident of suburban Oshiwara, has a deposit of over Rs 90 lakh with the troubled PMC bank. As per reports, he was under severe stress because of his deposit being stuck.

The Reserve Bank of India has placed a limit — of Rs 40,000 — on withdrawal of cash from the bank. Earlier, the limit was Rs 1,000, which was later raised to Rs 10,000 and Rs 25,000. The bank slipped into crisis after it emerged that the bank’s former chairman, ex-managing director along with a few others were involved in an alleged Rs 4,355 crore lending scam.

Meanwhile, the Supreme Court has declined to hear a petition filed on behalf of PMC depositors seeking lifting of restrictions of cash withdrawals imposed by the RBI. The petitioners further urged the top court to form a high-powered committee to look into the operating procedures of all cooperative banks in order to have a transparent mechanism.

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