Mother of a Punjab and Maharashtra Co-operative (PMC) Bank depositor, Bharti Sadarangani, passed away on Monday due to a heart attack. Sardarangani's son-in-law, Chandan Chotrani alleged that she was under stress, following the PMC scam because her daughter's entire life saving of 2.25 crores was deposited in the bank. Earlier, PMC bank account holders had carried out protests outside the Reserve Bank of India (RBI) office in Mumbai and threatened to protest again if the RBI does not respond with a press conference before Tuesday.
The first death took place on October 14, where 51-year-old Sanjay Gulati, a customer of the bank passed away as he suffered a cardiac arrest after he lost his life savings to the scam. Notably, earlier Sanjay had lost his job at Jet Airways. Sanjay was under a lot of stress as first he had lost his job in the Jet Airways and now his life savings were stuck in the PMC Bank. Another PMC Bank customer Fattomal Punjabi also died due to heart attack. Punjabi's family alleged that he was under stress following the crisis in PMC Bank.
In another incident, a resident of Andheri in Mumbai had taken her own life at her residence on October 15 by overdosing on pills. She also was a PMC account holder and her family alleged that she was under a lot of stress for the past few days. The PMC Bank scam has claimed another life as a senior citizen, Murlidhar Dharra, who needed the money for a bypass surgery could not arrange for the same owing to the limit on withdrawal of money from his account following the scam and consequently passed away.
The Supreme Court on Friday refused to entertain a plea filed on behalf of scam-hit PMC Bank account holders seeking lifting of restrictions imposed by the Reserve Bank of India on cash withdrawals. A bench headed by Chief Justice of India Ranjan Gogoi said, "We are not inclined to entertain this petition under Article 32 (writ jurisdiction). The petitioner can approach the high court concerned for appropriate relief". The Punjab & Maharashtra Co-operative Bank has been put under restrictions by the Reserve Bank of India (RBI) following the discovery of a Rs 4,355-crore scam. Deposit withdrawals have been capped at Rs 40,000 over a six-month period, causing panic and distress among depositors.