Another PMC Bank Depositor Dies In Mumbai, Family Says No Link With Imbroglio

Presently, the Reserve Bank of India (RBI) has permitted depositors to withdraw a maximum of Rs 40,000 from the PMC Bank on which it has imposed wide-ranging sanctions for six months starting September.

Mumbai: PMC Bank account holders raise slogans as they protest at Azad maidan in Mumbai, Wednesday, Oct. 30, 2019. (PTI Photo)

Mumbai: An elderly account holder of scam-hit Punjab and Maharashtra Co-operative Bank (PMC) died on Thursday due to cardiac arrest on Thursday. However, his relatives did not blame the crisis at the bank for his death. The deceased Keshumalbhai Hinduja was 68 years old and was a resident of Mulund. Hinduja is the sixth known PMC Bank depositor who died after restrictions were imposed on withdrawal of funds from the bank, leaving its depositors high and dry. He was admitted to a private hospital on Tuesday evening after he complained of chest pain, said a family member. Hinduja, who ran a shop in the area, died due to cardiac arrest, he said. "We don't want to blame the bank for the death, as it was by natural causes," he added. The bank's depositors have been agitating, seeking that they be allowed to withdraw their money which is stuck due to an RBI-imposed cap. Presently, the Reserve Bank of India (RBI) has permitted depositors to withdraw a maximum of Rs 40,000 from the PMC Bank on which it has imposed wide-ranging sanctions for six months starting September. Since the scam broke out at the start of the festival season, PMC Bank depositors have been running from pillar to post carrying out a series of protests in the city, lodging police complaints and filing court cases against the bank management. Depositors' groups have demanded that the RBI should immediately lift the curbs on their deposits, or merge the PMC Bank with some other bigger bank to ensure the safety of their money lying inaccessible in various accounts. (With additional information from Agencies)