After Losing Job At Jet Airways, Savings At PMC, Mumbai Man Dies Of Heart Attack

Sanjay Gulati, an account-holder at the scam-hit PMC bank, died of heart attack in Mumbai on Monday. Just hours before his death, Gulati had taken part in the protests against the government over the bank fraud. The 51-year-old, a resident of Oshiwara, Andheri West, came home and complained of uneasiness. Soon, he was rushed to Kokilaben Hospital in Versova, where Gulati was declared brought dead. News Nation has learnt that Gulati had previously lost his job at the Jet Airways. According to his relatives, Gulati was very worried and anxious over the bank fraud.

‘He had spoken to me a day earlier. He was very worried about his future. He had said that more than the job loss, it is the bank fraud that hit him hard,’ Gulati’s relative Rajesh Dua told News Nation. According to the family, Gulati had around Rs 90 lakh in his PMC account at Oshiwara branch.

He also said that Gulati was stressed over treatment of his special child. Dua said that all the money was in the bank and due to withdrawal limit, Gulati was not able to source money for the treatment of his child. News of Gulati’s death has sent shockwaves among the PMC depositors. 

On Monday, in partial relief to thousands of Punjab and Maharashtra Cooperative (PMC) Bank depositors, the Reserve Bank of India (RBI) enhanced the withdrawal limit to Rs 40,000 from the existing Rs 25,000. "The Reserve Bank of India, after reviewing the bank's liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to Rs. 40,000, inclusive of Rs. 25,000 allowed earlier," the central bank said in a statement.

In a sudden decision, the RBI last month imposed operational restrictions on Punjab and Maharashtra Co-operative Bank (PMC Bank). Withdrawals had been capped at Rs 1,000 per account and the bank was not allowed to make any fresh loans due to massive under-reporting of dud loans. However, after massive protets by the bank's depositors and the pressure from the Opposition parties, the central bank had raised the withdrawal limit to 10,000 and then 25,000, subsequently.

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The move follows the weekend assurance by finance minister Nirmala Sitharaman to urge the Reserve Bank to look into the woes of the depositors of the cooperative bank with urgency, after irate depositors met her.