Mumbai man dies in protest over PMC Bank case
Wed Oct 16 2019 / By: Jigi YadavAmidst tensions circulating PMC Bank and the savings of thousands of investors and customers, a 51-year-old man Sanjay Gulati died of cardiac arrest after protesting for PMC Bank withdrawal restriction case. He lost his Jet Airways job and had approximately Rs. 90 lakh as savings in the aforesaid bank.
He returned home after a protest happened regarding the continuing Punjab & Maharashtra Cooperative Bank tensions, where he reserved his life-long savings. In the late afternoon, after he returned home from the protest, he suffered a critical cardiac arrest and was rushed to Kokilaben Dhirubhai Ambani Hospital, where he was declared dead.
As per the sources, his specially-abled son was undergoing treatment for which he needed money frequently. After the RBI imposed strict restrictions on the depositors of PMC Bank, where he used to keep his savings, he was facing difficulties in having liquid money in his hand when needed.
He has his account in Oshiwara Branch of PMC Bank which is undertaken in a stringent action by the Reserve Bank of India. Although, RBI has augmented the withdrawal limits for the depositors of PMC Bank to Rs. 40,000. With this advance, as more as 70% of PMC Bank customers will be able to draw all their bank account balance in one go. It has eased many but still many of the depositors are facing ambiguity and protesting for the banks and the government.