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PMC Bank account holder Sanjay Gulati, who died of cardiac arrest, was raising a special child

PMC Bank account holder Sanjay Gulati, who passed away of cardiac arrest, was raising a special child. Gulati had a deposit of over Rs 90 lakh with the troubled Punjab and Maharashtra Bank Cooperative (PMC) Bank. He was under stress because of his deposit being stuck.   

India TV News Desk India TV News Desk
New Delhi Published on: October 15, 2019 17:04 IST
Sanjay Gulati

Sanjay Gulati

PMC Bank account holder Sanjay Gulati, who passed away of cardiac arrest, was raising a special child. Gulati had a deposit of over Rs 90 lakh with the troubled Punjab and Maharashtra Bank Cooperative (PMC) Bank. He was under stress because of his deposit being stuck. 

Gulati had lost his job after the grounding of Jet Airways and is survived by his specially-abled son, who requires regular medical treatment.

Sanjay Gulati was a resident of suburban Oshiwara. He had gone to a protest march along with his 80-year-old father outside a city court on Monday morning. He passed away after a heart attack while having dinner on the same day. 

The PMC Bank has been placed under "directions" by the RBI since last month, wherein depositors' withdrawals have been capped.

The limits were increased to Rs 40,000 by the RBI on Monday, and the central bank said 77 per cent of the customers will be able to fully withdraw their deposits with this move.

The limits were earlier capped at Rs 1,000, and subsequently raised to Rs 10,000 and Rs 25,000 as the bank's liquidity position improved.

Harried depositors of the bank, which has deposits of over Rs 11,000 crore, have been protesting across the city, and also forced Finance Minister Nirmala Sitharaman to meet them last week when she was out to address a pre-election media conference here.

Sitharaman then urged RBI Governor Shaktikanta Das to urgently look into the woes of the depositors, after which the deposit withdrawal limits were hiked to Rs 40,000.

Four people, including promoters of realty firm HDIL to which the bank made the sour loans, and the lender's former chairman and ex-managing director have so far been arrested in connection with the alleged Rs 4,355 crore scam.

ALSO READ | With Rs 90 lakh stuck in PMC Bank, depositor dies of cardiac arrest

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