PNB Bank Fraud: Nearly Rs 35 Crore Misappropriated from Customers Accounts in Greater Noida

A case of big financial fraud in Punjab National Bank (PNB) has come to light at its branch in Aicher village in Greater Noida, Uttar Pradesh. Around ₹35 crore belonging to several account holders is suspected to have been misappropriated.

The fraud has been reported at PNB branch in Aichhar village / Sector Pi-1 area, Greater Noida, Uttar Pradesh. Initial estimates and customer complaints point to a potential embezzlement of around ₹35 crore, though local farmer organizations claim the figure could be higher (up to ₹130–150 crore).

According to complaints, bank employees allegedly broke fixed deposits (FDs) before maturity and transferred money from customers’ accounts to other accounts without their knowledge. Several customers have reported missing funds from their savings accounts and the closure of their fixed deposits.

Following the allegations, some bank employees have reportedly been suspended. However, the bank has not yet released detailed official information about the alleged fraud. Beta-2 police have started investigating the matter based on complaints from account holders.

Transporter Vineet Bhati, a resident of Aichhar village, filed a complaint at the Beta-2 police station on Tuesday. He has requested an investigation into the role of bank employees and the return of ₹25 lakh that he claims is missing from his account.

Bhati runs a firm called Jai Shiv Transport and maintains a current account at the PNB branch. He said he had approached bank employees to invest money in mutual funds. According to him, he signed a cheque and the relevant brochure on the branch manager’s instructions. However, he alleges that the money was transferred to another account instead of being credited to his savings account.

After learning about the transaction, Bhati visited the bank and demanded the return of his money. He said bank employees initially asked him to wait for one or two days. He later spoke to the branch manager over the phone on Monday and was informed about action being taken in the matter. A female bank employee subsequently called him and assured him that the money would be returned. Bhati said he had recorded the conversation. On Tuesday, bank employees again reportedly assured him that the money would be returned after an investigation.

Only ₹16,000 Left in an Account That Had ₹94 Lakh

Another customer, Gautam, who lives in the Sector Pi area and is originally from Bironda, alleged that his father’s account at the same branch had also been affected. He said his father needed ₹50,000 on Monday and visited the bank to withdraw the money. However, when he submitted a withdrawal request, the family was reportedly informed that only around ₹16,000 remained in the account. Gautam said the account had previously held approximately ₹94 lakh. The family has sought an explanation from the bank regarding the missing funds.

Customer Alleges Irregularities in Compensation Money

Another account holder alleged that his mother had received approximately ₹1.29 crore in compensation after the family’s land was acquired for the Noida International Airport project. According to the customer, the family had withdrawn only around ₹15 lakh from the amount. Despite this, more than ₹1 crore was reportedly missing from the account. The family has demanded an investigation into the transactions and the recovery of the money.

Customers Report Missing Fixed Deposits

Several other account holders have also complained that money was missing from their savings accounts and fixed deposits. One customer said he had an FD worth approximately ₹15 lakh but discovered that it had been closed when he visited the bank.

Another customer, identified as Sanjay, alleged that his fixed deposit of around ₹10 lakh had been broken before maturity and the money transferred to another account. Similarly, a customer named Hanif claimed that approximately ₹39 lakh had been withdrawn from his account. He said he had contacted the bank’s head office but had not received a satisfactory assurance regarding the return of his money.

Customers Gather at Bank, Demand Action

As news of the alleged fraud spread, several account holders from nearby villages gathered at the bank branch. According to reports, around 50 people reached the premises and demanded the return of their money and action against those responsible.

Vineet Bhati also contacted the emergency response service through Dial 112 using his mobile phone. He alleged that bank employees present at the branch mentioned irregularities involving approximately ₹35 crore across several accounts. However, the total amount involved and the actual number of affected customers have not yet been officially confirmed.

The affected customers have expressed concern over the safety of their lifetime savings. They have warned that they may stage a protest outside the bank if their money is not returned.

The police are currently investigating the complaints and examining the information available from the bank. The investigation is expected to establish how many customers were affected, the actual amount involved, how the fixed deposits were closed, and which accounts received the transferred funds. The role of the bank employees and details regarding their reported suspension are also expected to become clearer as the investigation progresses.

The allegations have not yet been conclusively established, and the final amount involved in the suspected fraud remains subject to investigation.

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