PMC Bank Crisis: Depositor dies due to Cardiac arrest after Protest

The Punjab and Maharashtra Cooperative Bank crisis has claimed life of a 51-year-old man identified as Sanjay Gulati at his residence in Oshiwara, Mumbai, after the protest.  According to the reports, Sanjay Gulati, a resident of Taporewala Gardens in Mumbai's Oshiwara, was a depositor in the disgraced PMC Bank. He has deposits worth Rs. 90 lakhs in the Oshiwara bank of the PMC Bank. 

On Monday, At the time, when the accused in the PMC Bank scam - Housing Development and Infrastructure Limited (HDIL) directors Rakesh Wadhawan and Sarang Wadhawan and former PMC Bank Chairman Waryam Singh were produced before the court for hearing, Sanjay Gulati was attending a protest outside Killa Court, Fort, along with around 200 PMC Bank account holders.

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Speaking to Republic TV, Sanjay Gulati’s neighbour Rajesh Dua says, “Sanjay used to work with Jet Airways airlines. He lost his job and then Sanjay and his family were completely depended upon his savings. Now he even lost his savings. On Monday, he went to Killa court for the agitation, attended by the depositors. He returned back home at around 3.30pm and slept. By around 5pm, he asked his wife to serve food. While having his lunch, he slumped and Diwas at that point of time. Soon after we rushed to the Kokilaben Hospital, but the doctor there declared dead on arrival. 

Rajesh further stated, Sanjay was a very happy-going person but yes he was in a mental pressure since the PMC Bank crisis. He had no history of serious ailments. He only had a thyroid problem.  Meanwhile, the Reserve Bank on Monday enhanced PMC Bank's withdrawal limit to Rs 40,000 per account from Rs 25,000 per account earlier for six months.

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PMC Bank Crisis

This is the third time the regulator has increased the withdrawal limit since it clamped down on PMC Bank on September 23, capping withdrawals at Rs 1,000 per customer, which led to a lot of distress and criticism. Meanwhile, Finance Minister Nirmala Sitharaman urged RBI Governor Shaktikanta Das urgently look into the woes of the depositors, after which the deposit withdrawal limits were hiked to Rs 40,000.

Four people, including promoters of realty firm HDIL to which the bank made the sour loans, and the lender's former chairman and ex-managing director have so far been arrested in connection with the alleged Rs 4,355 crore scam.

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