PMC Bank Tragedies

PMC Bank Tragedies

The PMC Bank scam has created innumerable problems for it's customers. hapless depositors have been protesting in groups across the country for getting their money back ever since the central bank, the RBI placed restrictions.

High level of financial mis-management at the bank in connivance with realtor HDIL was under wraps for a long time. According to the Mumbai police, the scam involved Rs.4,355 crore and five people were arrested in connectio  with the scam. There were an number of deaths caused by the severe pressure on customers because of the restrictrions placed upon withdrawals.

51 year-old Sumeet Gulati passed away deue to a heart attack. He had lost his job with the Jet Airways and died hours after attending a protest. Mumbai resident Fatto Punjabi and Nivediata Jagtiani also passed away tragically.. The latest victim is Murlidhar Dharra, 83, who was unable to withdraw funds  with as much as Rs.80 lakhs in deposit at the PMC bank. His family said they were unable to arrange for funds to pay for a critical heart surgery.