Eighteen customers have filed complaints over alleged unauthorised transfers and premature closure of fixed deposits at a Greater Noida PNB branch. The bank has launched an internal inquiry, while police investigate the suspected fraud. The reported ₹35-crore figure remains unconfirmed.
BY PC Bureau
Greater Noida/ October 30 : Several customers of Punjab National Bank’s ( PNB) Sector Pi-1 branch in Greater Noida have alleged that money disappeared from their savings accounts and fixed deposits without their authorisation or any transaction alerts, triggering protests and a police investigation into suspected irregularities estimated at nearly ₹35 crore. Five employees have been placed udner suspension.
The amount, based on customers’ claims, has not been officially confirmed by the bank or the police. Five bank employees, including the branch manager, have been suspended, while the bank has launched an internal probe.
The alleged fraud came to light after account holders noticed sharp reductions in their balances and discovered that some fixed deposits had reportedly been closed before maturity without their consent.
On Wednesday, PNB customers gathered outside the branch demanding an explanation and the return of their money. Members of a farmers’ union also staged a sit-in, seeking accountability and urgent action. Police were deployed as the bank and law enforcement authorities began examining the complaints.
Customers report large losses
Vijendra Singh, one of the account holders, alleged that his balance had plunged from around ₹87–88 lakh to just ₹1 lakh.
Another customer, Haneef Khan, claimed that ₹39 lakh had disappeared from his savings account without his knowledge.
“My savings account had ₹39 lakh, but now nothing is showing in it. I neither received any message nor signed any document authorising the transfer of funds,” Khan said.
A third customer, Zakir, alleged that ₹9.5 lakh was missing from his account. He said he learnt of the suspected transactions only after visiting the branch, claiming that he had received no SMS alerts.
Several customers have alleged that funds were transferred to other accounts without their approval and that fixed deposits were prematurely closed. They also claimed that requests for passbook updates and transaction details were repeatedly delayed, with bank staff citing an RBI audit.
The allegations have raised questions about how the transactions were processed and why customers say they received no timely alerts.
READ: Madras HC: Law-and-Order Fears Cannot Stifle Peaceful Protest
FIR registered, 18 PNB customers complain
The police have registered an FIR against bank employees following a complaint by Shrichand, a resident of Birondi. Eighteen customers have submitted written complaints so far.
Investigators are examining the alleged transfers, the reported premature closure of fixed deposits and the role of bank personnel. The case may be referred to the Economic Offences Wing for a more detailed investigation.
The PNB’s anti-corruption team is also investigating the matter.
Five employees suspended
PNB management has suspended five employees, including the branch manager, and replaced the branch staff. The bank has assured customers that their complaints will be addressed and that efforts will be made to recover the money.
However, the bank has not publicly confirmed the total amount allegedly siphoned off or the number of accounts affected.
The reported ₹35-crore figure remains an estimate based on customers’ claims. The actual scale of the suspected fraud will depend on the findings of the bank’s internal inquiry and the police investigation.
For affected account holders, the immediate demand is straightforward: establish where the money went, restore any funds found to have been transferred unlawfully, and fix responsibility for the alleged lapses.
