PMC Bank crisis: Two depositors die within 24 hours

PMC Bank crisis: Two depositors die within 24 hours

On last Monday, a 51-year-old former employee of Jet Airways, who had deposits worth Rs 90 lakh died after returning from protest rally.

FPJ Web DeskUpdated: Tuesday, October 15, 2019, 06:45 PM IST
article-image
PMC Bank customers stage a protest outside the Killa Court, where the accused of the bank scam were being produced, in Mumbai, Monday, Oct. 14, 2019 | PTI Photo

The crisis at Punjab and Maharashtra Cooperative Bank (PMC) has claimed two lives in 24 hours, both of them account holders of PMC Bank.

Fattomal Punjabi had an account with Mulund branch of PMC. He was facing financial issues because of the reduction in the withdrawal of cash. Punjabi died of a heart attack due to the stress caused by the bank's issues.

On last Monday, a 51-year-old former employee of Jet Airways, who had deposits worth Rs 90 lakhs in the Punjab and Maharashtra Co-operative (PMC) Bank, died hours after participating in a protest rally by depositors here on Monday.

The deceased was identified as Sanjay Gulati had deposits in the Oshiwara branch of the Bank and is survived by his wife and two children. He was a resident of Tarapore Gardens, Oshiwara.

Last month, the RBI restricted the activities of the PMC Bank for six months and asked it to not grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits.

PMC Bank is a multi-state scheduled urban cooperative bank with operations in Maharashtra, New Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh, and Madhya Pradesh. With a network of 137 branches, it ranks among the top 10 cooperative banks in the country.

(Inputs from ANI)

RECENT STORIES

Mumbai News: BMC To Divert Sewage Lines, Set Up 8 MLD STP To Save Powai Lake From Hyacinth Menace

Mumbai News: BMC To Divert Sewage Lines, Set Up 8 MLD STP To Save Powai Lake From Hyacinth Menace

Maharashtra News: Fisheries Official Suspended for Faking Illness to Travel Abroad Amid Leave Ban

Maharashtra News: Fisheries Official Suspended for Faking Illness to Travel Abroad Amid Leave Ban

Fairplay App Money Laundering Case: Mumbai Special PMLA Court Grants Bail To Accused Brothers Citing...

Fairplay App Money Laundering Case: Mumbai Special PMLA Court Grants Bail To Accused Brothers Citing...

Mumbai News: SC/ST Court Acquits 4 Santacruz School Staff In 11-Year-Old Caste Discrimination Case

Mumbai News: SC/ST Court Acquits 4 Santacruz School Staff In 11-Year-Old Caste Discrimination Case

Mumbai News: Illegal Religious Event Held At Ganesh Maidan 3 Weeks After Police Shut Down...

Mumbai News: Illegal Religious Event Held At Ganesh Maidan 3 Weeks After Police Shut Down...