PMC bank account holder Andrew Lobo from Mumbai passed away on Monday. His friends and other PMC account holders claimed that he died as he was not able to access his money on time for treatment..
HIGHLIGHTS
- Andrew Lobo from Mumbai, another depositor at the scam-hit PMC bank, passed away on Monday
- His family claimed that he died as he was not able to access his money for treatment
- Earlier, a 68-year-old man who had an account with the PMC bank died in suburban Mulund
Andrew Lobo from Mumbai, another depositor at the scam-hit Punjab and Maharashtra Co-operative Bank (PMC), passed away on Monday. Lobo was an account holder in the Mulund branch of the bank.
Lobo’s family and other PMC account holders claimed that he died as he was not able to access his money on time for treatment.
Lobo’s grand-nephew Chris told India Today TV that Andrew had sold off his business and house in Mulund after retirement. The money from selling off the business and home, which was approximately 26-30 lakh, was deposited in the PMC bank.
Lobo used to pay for medicines and everything from the interest that they earned from the bank.
Chris said that few months ago, Andrew had suffered a lung infection and was undergoing treatment.
Since the PMC crisis happened, Lobo’s relatives also could not be of much help to the elderly couple as even their accounts were frozen in the PMC bank.
“Oxygen machines are so costly and we could not afford to get them. We somehow collected money from friends and got an oxygen cylinder. Medicines for him and his wife also would cost so much while the bank only gave Rs 40,000,” Chris said.
Chris added that Lobo had been worried these last few weeks since the money got locked and had been enquiring with people about the fate of his money.
Earlier in October, a 68-year-old man who had an account with the PMC bank died in suburban Mulund.
However, his relatives did not the blame the PMC bank crisis for his death.
This is the seventh known PMC Bank depositor who died after restrictions were imposed on withdrawal of funds from the bank, leaving its depositors high and dry.
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.
The PMC Bank has been put under restrictions by the RBI after an alleged fraud of Rs 4,355 crore scam came to light following which the deposit withdrawal was initially capped at Rs 1000, causing panic and distress among depositors.
Subsequently, the withdrawal limit was raised to Rs 40,000 by the Reserve Bank of India (RBI).
The crisis at the bank is being attributed to loans given to realty player Housing Development Infrastructure Ltd (HDIL), which were allegedly hidden from regulators’ scrutiny, turning non-performing assets.
Five people, including HDIL promoters, have been arrested in the case.
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