Rs 35 Crore Allegedly Missing From PNB Greater Noida Branch; 5 Employees Suspended

Rs 35 Crore Allegedly Missing From PNB Greater Noida Branch; 5 Employees Suspended

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Customers of a Punjab National Bank (PNB) branch in Greater Noida have discovered that nearly Rs 35 crore has vanished from their savings and fixed deposit accounts, NDTV reported. Many account holders claim they received no transaction alerts and signed no authorization documents before their balances plummeted, leading to the suspension of five bank employees, including the branch manager, and a formal police investigation.

The missing funds primarily include government compensation paid to farmers and villagers in 2023 for land acquired for the Jewar Airport project.

PNB Greater Noida Branch Under Scanner After Crores Allegedly Go Missing From Accounts

The Human Cost of Vanishing Balances

The scale of the loss varies, but the pattern is devastating. Haneef Khan discovered his savings account, which once held Rs 39 lakh, had been wiped clean. He told PTI that he neither received a notification nor signed any paperwork to move the funds. Similarly, Zakir reported that Rs 9.5 lakh disappeared without a single text alert, a fact he only discovered after physically visiting the branch.

For others, the losses are even more staggering. Vijendra Singh, a farmer, saw his balance drop from approximately Rs 88 lakh to just Rs 1 lakh. Santosh, a 60-year-old tea and samosa vendor from Bironda village, suffered a similar blow; her account, which held Rs 1.29 crore in airport compensation, was missing Rs 1.18 crore when her family attempted a withdrawal. According to The New Indian Express, some customers who held modest savings of Rs 3 lakh to Rs 4 lakh found themselves with as little as Rs 16,000.

India Today reports that several account holders claimed that whenever they asked to update their passbooks or check transaction details, staff told them an audit by the Reserve Bank of India (RBI) was underway. This delay effectively blinded customers to the theft until the accounts were nearly empty.

A Pattern of Alleged Misappropriation

While the bank has not issued an official statement, the methods used to siphon the money appear to involve both internal manipulation and deceptive paperwork. India Today reports allegations that bank employees prematurely closed fixed deposits and transferred the funds to other accounts without customer consent.

One specific case highlighted by The New Indian Express involves Vineet Bhati, a transporter who runs Jai Shiv Transport. Bhati visited the branch to invest in mutual funds and, acting on the manager’s instructions, signed a cheque and brochures. However, the money was not invested; instead, it was sent to another account that was reportedly in Bhati’s name but did not actually belong to him. Bhati has since demanded the return of his Rs 25 lakh.

The disparity in reported figures suggests the fraud is still being quantified. While NDTV and The Economic Times cite a total of nearly Rs 35 crore, a senior police officer told ThePrint that as of Wednesday noon, the complaints from at least 18 people totaled more than Rs 16 crore.

(File photo | AFP)
Photo: The New Indian Express

PNB Suspends Five Employees as Police Probe Breach

The fallout has been swift in terms of personnel. PNB’s regional office in Sector 1, Noida, has suspended five employees, and a new team has been installed at the Sector Pi-1 branch in Aichhar village. An FIR has been registered at the Beta-2 police station under Section 316(5) of the Bharatiya Nyaya Sanhita for criminal breach of trust.

The investigation is now a multi-pronged effort. The Gautam Buddh Nagar police, the bank’s internal anti-corruption team, and the Economic Offences Wing (EOW) are all probing the case. The central question remains: how did millions of rupees leave these accounts without triggering the automated SMS alerts that are standard in modern Indian banking?

“I never received any receipt of payment. The police told us they will investigate, but we want a response from the bank. None of the farmers will back down until every single amount is returned,” Srichand, a 78-year-old villager who lost a fixed deposit of Rs 1.16 crore, told ThePrint.

The Path to Recovery

Bank officials have provided a tentative promise to the victims. According to The New Indian Express, the bank has assured customers that their money will be credited back to their accounts by Thursday. However, for those who have spent days protesting outside the branch, a promise is a far cry from a restored balance.

Allegations of Crores Vanishing from PNB in Greater Noida! | PNB Fraud Case | Greater Noida News

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Noida PNB Scam: Alleged ₹35 Crore Fraud at PNB Noida! Money Missing from Customer Accounts!
Greater Noida PNB Scam: ग्राहकों के खाते से 35 करोड़ गायब!

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