Another PMC depositor dies of heart attack, 7th death since scam surfaced

A 64-year-old woman, and a depositor of the scam-hit Punjab & Maharashtra Cooperative (PMC) Bank, died due to a heart attack in Navi Mumbai earlier this week.

Kuldeep Kaur Vig (64) is reportedly the seventh PMC Bank depositor to have died after the alleged Rs 4,355 crore scam at the bank came to light and the RBI imposed restrictions on withdrawal of funds.

A resident of sector 10 in Kharghar locality of Navi Mumbai, Kuldeep died at a hospital on Tuesday night. According to her husband Varinder Singh, she was worried about her money being stuck with the bank.

Varinder, who worked as a coach at Guru Teg Bahadur High School in GTB Nagar, also had his own salary account with PMC Bank.

“We have our accounts in PMC bank for more than 15 years. Some of our Fixed Deposits were renewed recently, and a month after that this scam came out,” he said.

“We don’t have the money to renew our health insurance. The insurance firm had called asking for renewal. I asked them if they would accept a cheque of PMC Bank,” he said.

“Seven depositors have died so far. How many more deaths the bank needs?” he added.

Meanwhile, the Economic Offences Wing of the Mumbai Police has arrested five persons — three top officials of the bank and two promoters of realty group HDIL — in the scam.

Bank officials are alleged to have colluded with the promoters of HDIL in hiding its huge loan defaults.