PNB has suspended 12 Employees in Greater Noida Fraud Case

Punjab National Bank (PNB) has suspended its twelve employees and has filed a case with the Central Bureau of Investigation (CBI) wrt to the fraud in Greater Noida Branch.

A female staff of PNB misused the passwords of officers in the branch and withdrew funds from accounts of several customers. As per media reports, the fraud is claimed to be of around Rs 35 crore.

The bank is still investigating the full impact of the fraud and currently has put the total amount lost at less than Rs 10 crore, lower than social media claims of Rs 35 crore.

“A person in the branch used the password of the branch manager to make some unauthorised transfers from various individual bank accounts. All the employees involved including the branch manager whose password was used have been suspended pending enquiry,” said a senior PNB official.

Media reports said that customers of a PNB branch in Greater Noida have alleged that nearly Rs 35 crore went missing from their savings accounts and fixed deposits. Several account holders claimed that they had neither authorised the transactions nor received alerts about the fund transfers. The senior PNB official however said that the amount is lower.

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“Our initial estimate is that the total amount which went out of the accounts is less than Rs 10 crore, but investigations are still on going. In the next few days and we thoroughly examine what has happened we will be able to crystalize the exact amount and initiate the recovery process,” the senior official said.

PNB Released Official Public Notice

Punjab National Bank has released a public notice and informed the public about the fraud.

Punjab National Bank (PNB) said it has taken serious cognisance of the complaints regarding alleged financial irregularities involving certain customer Fixed/SB deposit accounts at its Greater Noida branch. The matter is being examined on priority and the Bank is extending full cooperation to the authorities concerned and is taking necessary steps to verify the facts, assess the extent of the reported discrepancies and address the concerns of affected customers.

Moreover, three claims amounting to ₹43 lakh have been settled till now. The Bank assures its customers that all genuine claims will be honoured.

PNB maintains a zero-tolerance policy towards fraud, financial irregularities and misconduct, and stern action will be taken against those found responsible, in accordance with applicable rules and procedures. The Bank remains committed to safeguarding customer interests, upholding the highest standards of operational integrity, and continually strengthening its internal controls and monitoring mechanisms to reinforce safeguards and prevent the recurrence of such incidents.

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