Second PMC Bank Depositor Dies of Heart Attack Within 24 Hours

On Monday, 51-year-old PMC depositor Sanjay Gulati died of a heart attack.

Fattomal Punjabi, 59-year-old, was a resident of Mulund and was an owner of hardware and electrical store.

(Photo: The Quint)

Another Punjab and Maharashtra Cooperative (PMC) Bank depositor passed away due to a heart attack on Tuesday, 15 October, CNN News 18 reported.

This is the second such incident within 24 hours, where a distressed PMC Bank depositor has died due to a heart attack.

Fattomal Punjabi, 59, was a resident of Mulund. He owned a hardware and electrical store.

On Monday, a 51-year-old Sanjay Gulati, whose family has a deposit of over Rs 90 lakh with the troubled Bank, had died the same day he attended a protest march.

Gulati, a resident of Oshiwara, had gone to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck, PTI reported. He was there at the protest along with his 80-year-old father.

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

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 percent of the customers will be able to fully withdraw their deposits with this move.

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.

(With inputs from CNN News18)