Punjab National Bank Assures Customers Over Greater Noida Financial Irregularities

Punjab National Bank has assured customers that all genuine claims will be honoured following alleged financial irregularities at its Greater Noida branch. The bank has already settled three claims amounting to forty-three lakh rupees. The issue surfaced after nearly two dozen account holders complained that funds had vanished from their savings accounts and fixed deposits without authorisation or transaction alerts.

Investigation And Action

An FIR has been registered against unidentified bank employees under Section 3165 of the Bharatiya Nyaya Sanhita for criminal breach of trust, based on a complaint by customer Shrichand and other account holders. The complaint lists alleged losses exceeding eleven crore and twenty-four lakh rupees across twenty-one individuals, with two account holders reporting losses above one crore rupees each. Local account holders have separately estimated the total alleged fraud at around thirty-five crore rupees, affecting savings accounts, fixed deposits, and mutual fund investments. Bank management has suspended several employees, including the branch manager, and stated that it is cooperating fully with the authorities.

Context

Financial institutions rely heavily on internal security protocols and direct customer alerts to safeguard deposits against unauthorised access. Lead District Manager Ram Vinod Kumar confirmed that grievances are being actively examined as police pursue further legal action.