It's been exactly a month since the Reserve Bank of India (RBI) imposed banking restrictions on the Punjab and Maharashtra Co-Operative (PMC) Bank following reports of widespread corruption in the bank and the ensuing crisis has now claimed its fifth victim.
Bharti Sadarangani, 73, died after a sudden heart attack on Monday afternoon. With no history of heart ailments, family members say over the last few days she had been stressed about her family's vast deposits in the scam-hit PMC Bank.
Her daughter and son-in-law reportedly have deposits worth Rs 2.5 crore in the bank.
Sadarangani is the fourth victim to have suffered a heart attack allegedly under stress, owing to deposits in the scam-hit bank. Sanjay Gulati, 51, from Jogeshwari, 83-year-old Murlidhar Dharra from Mulund, and Fattomal Punjabi, 59, all suffered heart attacks. They all have significant deposits in the PMC Bank.
Dr Nivedita Bijlani, 39, who allegedly committed suicide, had deposits of over Rs 1 crore with the co-operative bank.
The RBI has restricted business of PMC Bank for six months and capped withdrawals at Rs 40,000 per month after several revisions. Th initial decree from the central bank imposed a withdrawal limit of Rs 1,000 per month for each account.
Over 15 lakh customers have been affected, including individual depositors, Gurudwara trusts, and housing societies, among others. Hapless depositors have been agitating outside the RBI office and protested when finance minister Nirmala Sitharaman was in Mumbai last month.
"The biggest frustration is that no one from the government is even talking to us or responding to our queries. No one is concerned that now five people have lost their lives, troubled that they may lose their entire family savings," said Prem Dhara, son of the deceased Murlidhar Dharra.
The depositors have organised their ninth protest on Tuesday where various Gurudwaras from across Mumbai and Navi Mumbai are participating.