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Rs 4 crore in bank, PMC depositor forced to take loan for COVID-19

After taking loans for treatment, Malad family that had kept its entire savings in the scam-hit bank now struggles to pay even rent for their flat

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PMC Bank depositors protest outside a branch in Bandra. Pic/Sayyed Sameer Abedi

PMC Bank depositors protest outside a branch in Bandra. Pic/Sayyed Sameer Abedi

As if having his entire family's money, Rs 4 cr stuck in the scam -hit PMC Bank was not trouble enough, Malad-based businessman, Kirit Shah, caught COVID-19. After spending 15 days in hospital for treatment in July, he was given a bill of Rs 7 lakh, and had to borrow money from relatives to pay it, as the bank only gave him R4 lakh. Despite the crores in the bank, Shah is struggling to pay for medicines.'

Shah was given a bill for R7 lakh by the hospital where he was treated. But the PMC Bank only allowed him to withdraw R4 lakh. So the rest of the money he took on loan from relatives. In all the five-member Shah family has R4 crore in the PMC Bank's Oshiwara branch.

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