The crisis at Punjab and Maharashtra Cooperative Bank (PMC) has claimed two lives in 24 hours, both of them account holders of PMC Bank.
Fattomal Punjabi had an account with Mulund branch of PMC. He was facing financial issues because of the reduction in the withdrawal of cash. Punjabi died of a heart attack due to the stress caused by the bank's issues.
On last Monday, a 51-year-old former employee of Jet Airways, who had deposits worth Rs 90 lakhs in the Punjab and Maharashtra Co-operative (PMC) Bank, died hours after participating in a protest rally by depositors here on Monday.
The deceased was identified as Sanjay Gulati had deposits in the Oshiwara branch of the Bank and is survived by his wife and two children. He was a resident of Tarapore Gardens, Oshiwara.
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 incur any liability, including borrowing of funds and acceptance of fresh deposits.
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 network of 137 branches, it ranks among the top 10 cooperative banks in the country.
(Inputs from ANI)
