Lost Job at Jet, Rs 90 Lakh at PMC Bank: Man Dies of Heart Attack

Sanjay Gulati is survived by a differently-abled son, who requires regular medical treatment.

PMC Bank depositor dies of heart attack after protest.

(Photo: ANI/Altered by The Quint)

Sanjay Gulati, a distressed depositor at the defunct Punjab and Maharashtra Co-operative Bank (PMC Bank), who had lost his job after the grounding of Jet Airways, died due to a heart attack after taking part in a protest march in Mumbai on Monday, 14 October.

The 51-year-old, whose family has deposits worth over Rs 90 lakh with the troubled PMC Bank, went to a protest march held outside a city court on 14 October, PTI reported.

Gulati had been under stress because of his deposit being stuck, said Manali Narkar, who was among the agitating depositors.

Gulati was there at the protest along with his 80- year-old father, Narkar said. In a video made at the protest site, Gulati's father claimed that the family has a deposit of over Rs 90 lakh with the bank, she said.

Gulati died due to a heart attack while having dinner on Monday, a senior official at Oshiwara police station said.

Narkar said a few of the depositors will be attending Gulati's last rites to be held here around noon, and added that they will also be holding a peaceful candle light march in the evening.

Gulati Loses Job After Grounding of Jet Airways

According to reports in a section of media, Gulati lost his job after the grounding of Jet Airways and is survived by a specially-abled son, who requires regular medical treatment.

The PMC Bank has been placed under directions by the RBI since last month, wherein depositors' withdrawals have been capped.

The limits were increased to Rs 40,000 by the RBI on Monday, and the central bank said 77 per cent of the customers will be able to fully withdraw their deposits with this move.

Harried depositors of the bank, which has deposits of over Rs 11,000 crore, have been protesting across the city, and also forced Finance Minister Nirmala Sitharaman to meet them last week when she was out to address a pre-election media conference here.

Sitharaman then urged RBI Governor Shaktikanta Das to urgently look into the woes of the depositors, after which the deposit withdrawal limits were hiked to Rs 40,000.

The limits were earlier capped at Rs 1,000, and subsequently raised to Rs 10,000 and Rs 25,000 as the bank's liquidity position improved.

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.

(With inputs from PTI.)