Home Uncategorized Two depositors died in 24 hours, the crisis hit PMC Bank

Two depositors died in 24 hours, the crisis hit PMC Bank

  • 51-year-old account holder Sanjay Gulati from Oshiwara died on Monday due to cardiac arrest and then on Tuesday 61-year-old Mulund depositor Fattomal Punjabi died of a heart attack.
  • One of Punjabi’s neighbors said I believe that the amount would be around 8-10 lakh in his current account with a couple of fixed deposits as well.
  • Gulati’s wife and two young children have Rs90 lakh held up in the Oshiwara branch of PMC bank.

MUMBAI: The last 24 hours have witnessed two deaths; both were the depositors of crisis-hit PMC Bank. The first was 51-year-old account holder Sanjay Gulati from Oshiwara, who died on Monday due to cardiac arrest and then on Tuesday 61-year-old Mulund depositor Fattomal Punjabi died of a heart attack.

An electrical hardware store in Mulund Colony was run by Fattomal Punjabi and schoolchildren were also ferried by him in vans. He got into pressure over the past few weeks, because he had to pay vendors but his working capital was frozen in his current account.

A PMC Bank depositors group from Andheri East said, Punjabi maintained regular visit the bank’s branches and he also joined protests.

According to his neighbor who told TOI that his (Punjabi’s) life savings were immobilized in PMC and he believes that the amount would be around 8-10 lakh in his current account with a couple of fixed deposits as well.

The heart attack happened on Tuesday at around 12.30 pm when the 61-year-old Punjabi left his home to visit the bank. He was taken to the nearby Gokul Hospital but he was declared dead soon after the arrival.

After his wife’s death in March, he was living alone and he also survived by his 32-year-old son and 38-year-old daughter. “He was a nice and softspoken person and will be missed”, said his elder brother.

“Shock spread over the Mulund Colony at the closure of the bank. Many Sindhis and Punjabis put their money in this bank and every time the withdrawal amount is being increased by the RBI we suffered long lines for taking our next incremental amount. Can you imagine the stress that the elderly person goes through with the fatigue for standing in the summer heat time and again?” Said one of Punjabi’s neighbors.

On Monday afternoon soon after attending a protest rally, a 51-year-old depositor named Gulati had died, he was from Tarapore Gardens in Oshiwara. Now his wife and two young children haveRs90 lakh held up in the Oshiwara branch of PMC bank.

“Sanjay and his father C L Gulati were employed in Jet Airways. He has consecutively lost his job and his savings. He had no record of any serious ailments. He deposited Rs 90 lakh in PMC Bank. On Monday a protest rally was arranged by depositors, Gulati attends and saw agitation and crying of many of them. After coming back home from the protest rally around 3.30 pm he slept and about 4.45 pm he told his wife for serving food. While eating suddenly he slumped and died”, said Yatindra Pal, the secretary of the society.

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