A Chief Manager working in Punjab National Bank in Gwalior Circle has been suspended by the bank management.
Punjab National Bank (PNB) has placed Chief Manager Shri Anand Kumar under suspension with immediate effect in connection with alleged serious irregularities at the Currency Chest, Mandsaur, Madhya Pradesh.
According to the order dated September 5, 2026, Anand Kumar is currently posted as Branch Head at Jayendraganj in Gwalior and was previously posted at Circle Office in Ujjain. A disciplinary proceeding against him has been contemplated/pending in connection with the irregularities noticed at Currency Chest in Mandsaur.
The bank has alleged that during his duties, Anand Kumar failed to exercise the required care, supervision and control in the handling and maintenance of cash/currency at the Currency Chest, Mandsaur. According to the order, these alleged lapses resulted in cash shortage and other irregularities at the Currency Chest.
The bank further stated that the alleged lapses indicate a prima facie failure to discharge his duties properly and failure to follow the prescribed procedures and controls relating to cash custody and reconciliation.
What is PNB Mandsaur issue?
The Punjab National Bank (PNB) currency chest scam in Mandsaur is a legal dispute over missing money. A suspended bank manager, Anuj Sharma, asked the Madhya Pradesh High Court to start an independent investigation into ₹1 crore of missing cash at the Mandsaur bank vault.
Sharma, who helped look after the vault, found that the records for ₹500 notes did not match the actual cash. He says he reported this problem to senior bank officials, but instead of fixing it, the bank blamed him and suspended him. The High Court has now sent notices to PNB and other officials, demanding answers about where the money went.
The Bank’s internal investigation is ongoing, and the Chief Manager has been suspended in connection with the matter.
