Mumbai Man With Account In PMC Bank Dies, Family Calls It 'Natural Death'

MUMBAI: A senior citizen holding an account in crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank died on Saturday in Mumbai's suburban Mulund, the fifth such case since the alleged scam came to light leading to imposition of curbs on cash withdrawals.

Family members of the victim Ram Arora, however, claimed that his death was not related to the bank scam or resultant restrictions on withdrawal of funds.

"It was a natural death. He was a senior citizen. The death is not related to the bank scam," they said.

According to Mr Arora's family, he was not solely dependent on funds in his account with the PMC Bank.

So, far four depositors of the troubled bank have died since the alleged scam was exposed.

On Friday, 83-year-old PMC bank depositor Murlidhar Dharra, also from Mulund, died with his family claiming that it could not raise money for his heart surgery after restrictions were imposed on fund withdrawals.

Earlier, two depositors died of cardiac arrest, while another, a woman doctor, allegedly committed suicide.

The crisis at the bank is being attributed to loans given to realty player HDIL, which were allegedly hidden from regulators' scrutiny, turning non-performing assets.

Five people including HDIL promoters have been arrested in the case.