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Another PMC Bank customer dies of heart attack

On October 14, Sanjay Gulati, another distressed depositor of the PMC bank, succumbed to a heart attack.

October 15, 2019 / 08:31 PM IST

Fattomal Punjabi, a customer of crisis-hit Punjab and Maharashtra Cooperative Bank, died of a heart attack on October 15, according to news reports.

Having taken part in protests in the last few days, Punjabi had told some friends about his financial troubles following the restrictions on cash withdrawal from the bank by the Reserve Bank of India. He had at account at the Mulund branch of the bank.

On October 14, Sanjay Gulati, another distressed customer of the bank, succumbed to a heart attack. The family of 51-year-old Gulati is believed to have a deposit of over Rs 90 lakh with the troubled PMC Bank.

Gulati had participated in a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck, said Manali Narkar, who was among the agitating depositors.

The RBI had capped withdrawals from the PMC Bank beginning last month, placing certain operational restrictions on it. The withdrawal was capped at Rs 1,000 in the beginning. This went up to Rs 10,000, Rs 25,000 and finally was increased to Rs 40,000 on October 14.

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The latest increase in withdrawal limit would, according to the RBI, enable nearly 77 percent of the bank's customers to fully access their deposits.
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