Mumbai: The funeral of Sanjay Gulati, a customer of the crisis-hit Punjab & Maharashtra Cooperative Bank Ltd, who died after taking part in a protest last evening, will be held here on Tuesday afternoon, a family member said.
Besides his family members comprising elderly parents, his wife, sister and other relatives, many grieving PMC Bank customers took part in the funeral at the Andheri west crematorium.
For Gulati, 51, this was a double shock this year after he lost his job following the collapse of the Jet Airways six months ago.
On Monday afternoon, he returned home to Oshiwara suburb after participating in a demonstration with some 200 other customers against the PMC Bank scam in south Mumbai.
As Gulati was eating, he suddenly suffered a cardiac arrest and was rushed to the nearby Kokilaben Dhirubhai Ambani Hospital, where he was declared brought dead.
According to another customer, Gulati and his family members hold deposits worth around nine million rupees in the Oshiwara Branch of PMC Bank, which has been frozen after the Reserve Bank of India’s action last month.
Since he has a specially-abled son, Gulati needed regular cash in hand for his treatment and care which became impossible after the RBI had placed stringent limits on cash withdrawals by the bank’s depositors.
Disturbed since the past few days by the developments, he had joined the protest rally on Monday afternoon outside a Mumbai court where the prime accused – ex-chairman of PMC Bank S. Waryam Singh, Housing Development & Infrastructure Ltd. (HDIL) directors Rakesh Wadhawan and Sarang Wadhavan – were produced.
It may be recalled that after the scam erupted on Sep. 23, the RBI had imposed wide-ranging sanctions on the PMC Bank and barred people from withdrawing more than Rs.1000, which was later raised to Rs.25,000 and on Monday (Oct. 14) to Rs.40,000.
Coming ahead of the festival season, the RBI’s decisions had faced flak from various quarters even as the restrictions will continue till February 2020, leading to huge distress among the customers and depositors, besides panic in business and banking circles.-IANS News
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