With the Reserve Bank of India (RBI) placing withdrawal restrictions in Punjab and Maharashtra Co-operative (PMC) Bank following a 4,355 crore scam, at least three stressed account holders have so far died in Mumbai, according to agency reports.
Two of the deceased PMC account holders were said to be distressed following the crisis and died of heart attack while the third one committed suicide.
Less than 24 hours after 51-year-old Sanjay Gulati died of cardiac arrest after returning from a protest in the PMC Bank issue, another PMC Bank customer Fattomal Punjabi also died due to heart attack, ANI reported.
Punjabi’s family alleged that he was under stress following the crisis in PMC Bank.
In the third case, Dr Nivedita Bijlani (39) allegedly ended her life by taking an overdose of sleeping pills at her residence in suburban Versova late Monday evening, PTI reported.
She is said to have deposits of over ₹1 crore with PMC Bank. The police, however, have denied any link to the PMC Bank issue with her suicide.
Gulati, who had recently lost his job with collapsed airline Jet Airways, had kept his lifelong savings of ₹90 lakh in the bank. He was in regular need of cash to pay for medical bills of his specially-abled son.
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 contract any debt, including financing of funds and permission of fresh deposits.
The RBI has now increased withdrawal limits to ₹40,000, saying it will give relief to 77% of depositors.
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 system of 137 branches, it stands among the top 10 cooperative banks in the nation.
