(With PTI inputs)

NEW DELHI: Former managing director of the crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank was on Friday arrested by the Mumbai Police in relation to the Rs 4,355 crore cheating case.The Reserve Bank Of India (RBI) came to know of the scam after Thomas wrote an alarming letter to the central bank alleging fraud.The ex-MD of PMC Bank was summoned to the EOW office and arrested after questioning, a police official said.The Enforcement Directorate (ED) also conducted raids at six locations in and around Mumbai after taking cognisance of the FIR registered by the EOW.On Thursday, the EOW had arrested chairman and managing director of Housing Development and Infrastructure Ltd (HDIL) Rakesh Wadhawan and his son Sarang in the case. A court sent them in police custody till October 9 on Friday.The EOW registered an FIR on Monday against senior officials of HDIL and PMC Bank for allegedly causing losses to the tune of Rs 4,355.43 crore to the bank.The PMC Bank, which has 137 branches and over Rs 11,000 crore in deposits, has been put under restrictions since last week after the RBI discovered certain financial irregularities in the functioning of the multi-state lender.According to sources, the overall exposure of the bank to the financially stressed HDIL group is around Rs 6,500 crore or over 73 per cent of the advances, and all of it is not being serviced.