A day after 51-year-old Sanjay Gulati passed away in Mumbai, another customer of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank died on Tuesday, October 15. Fattomal Punjabi, 59, died at 12:30 pm of cardiac arrest amid the ongoing PMC Bank crisis.
The Mulund resident was an account holder at the disgraced PMC Bank. At least 95 per cent of the people residing in Mulund colony have accounts in the troubled bank.
The incident happened a day after 51-year-old Sanjay Gulati died from a heart attack on Monday after attending a protest by distressed customers of the bank outside a court in Mumbai. Gulati had more than Rs 90 lakh deposits in the Oshiwara branch of the PMC Back.
On Monday morning, Gulati, a resident of Taporewala Gardens in Mumbai's Oshiwara, went for a protest march. The 51-year-old man had been under stress as his deposits were stuck in the disgraced PMC Bank.
Following the PMC Bank crisis, Maharashtra Chief Minister Devendra Fadnavis has assured that he will take up the PMC Bank crisis with the centre. "We will request the Centre to help depositors get their money back. I will personally be following up on this," the Maharashtra CM said.
The PMC Bank case
The PMC Bank was placed under restrictions by the Reserve Bank of India (RBI) after it fraudulently extended loans to Housing Development & Infrastructure Ltd (HDIL).
The PMC bank became the 24th bank to have faced restrictions on withdrawals from the central bank. Now, the Modi-led BJP government has finally has decided to urgently plug in gaps in the oversight of cooperative banks and societies as they pose wider risks to the country's financial sector.
Mumbai Police had arrested Rakesh Wadhawan, the chairman and managing director of HDIL, and his son Sarang over their alleged role in the PMC bank fraud. The bank's management has also been accused of concealing non-performing assets and disbursing loans to HDIL, which lead to a loss of around Rs 4,300 crore.