Full Breakdown
Punjab National Bank Greater Noida Branch Under Investigation for Alleged Multi-Crore Fraud
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In this breakdown
01
Core Event: Alleged Misappropriation of Customer Funds
Customers of the Punjab National Bank (PNB) branch in Sector Pi-1, Greater Noida report large sums disappearing from savings accounts and fixed deposits (FDs). Balances were reduced to a few thousand rupees, often without authorisation or notification. The bank suspended five employees, including the branch manager, and police registered a First-Information Report (FIR) for criminal breach of trust.
02
Background & Context
Affected account holders include farmers and villagers who received compensation for the Jewar airport project and deposited the amounts in the PNB branch. The issue surfaced when transporter Vine Bhat i discovered a transfer to an account bearing his name but not owned by him, prompting similar complaints.
Visual evidence
Images from the story
03
Data & Statistics
- Reported missing amounts range from Rs 35 crore (customers’ claim) to over Rs 16 crore (police estimate); the Bharatiya Kisan Union suggests Rs 130-150 crore.
- At least 18 individuals have lodged complaints covering savings accounts, current accounts, and FDs.
- Specific losses cited:
- Rs 1.16 crore withdrawn from an FD (Srichand).
- Rs 39 lakh missing from Haneef Khan’s savings account.
- Rs 87-88 lakh reduced to Rs 1 lakh for farmer Vijendra Singh.
- Rs 25 lakh claimed by Vine Bhat i.
- The Economic Offences Wing (EOW) is leading the investigation.
04
Official Statements & Responses
Bank officials say an internal anti-corruption team is probing the matter and that “information about the matter is being collected. Appropriate action will be taken as per the rules after the investigation.” — Vinod Kumar
Police confirmed the FIR was lodged at Beta-2 police station and an Assistant Commissioner of Police (ACP) has been assigned to oversee the inquiry. The total amount and exact number of affected accounts will be determined after the probe.
05
On-the-Ground Reports
Villagers gathered outside the branch demanding restitution. Srichand said, “There was nothing. I could not believe the bank employees. I thought they had made an error. I asked them to check again, and again, but they told me there was no money.”
Haneef Khan added, “I neither received any message nor signed any document authorising the transfer of funds.”
06
Criticism & Opposition
The Bharatiya Kisan Union has questioned the adequacy of the investigation, alleging the embezzlement could total Rs 130-150 crore and demanding a high-level, impartial probe. The union warned of further protests if its demands are not met.
07
Conflicting Reports & Gaps
- Amount Missing: Customers cite Rs 35 crore, police estimate over Rs 16 crore, union suggests Rs 130-150 crore.
- Number of Affected Accounts: Not disclosed; banks and police say it will be clarified after investigation.
- Cause of Losses: Sources differ on whether funds were stolen, lost due to error, or siphoned through a digital breach. No definitive conclusion has been reached.
08
What’s Next
The Economic Offences Wing will continue its forensic audit while the ACP-led team examines the role of the suspended employees. The bank has pledged to credit disputed amounts back to customers “by Thursday,” though the exact timeline depends on investigation findings. Further complaints are expected as more depositors review their statements.