Second PMC Bank depositor dies of heart attack

A Punjab and Maharashtra Co-operative (PMC) Bank depositor, Fattomal Punjabi, passed away on Tuesday due to heart attack.

Punjabi's family alleged that he was under stress following the crisis in PMC Bank.

This is the second death of a PMC account holder in less than 24 hours.

On Monday, a 51-year-old former employee of Jet Airways, Sanjay Gulati, who had deposits worth Rs 90 lakh in the Punjab and Maharashtra Co-operative (PMC) Bank, died hours after participating in a protest rally by depositors here.

Gulati had deposits in the Oshiwara branch of the Bank and is survived by his wife and two children.

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.