Punjab National Bank (PNB) has suspended 12 employees and approached the Central Bureau of Investigation (CBI) after customers at its Greater Noida branch reported unauthorised transactions involving their savings accounts and fixed deposits.
The alleged irregularities were reported at PNB’s Aichhar branch near Sector Pi-1 in Greater Noida, Uttar Pradesh. The bank suspects that a female employee at the branch worked with outsiders to access the branch manager’s password and transfer money from customers’ accounts without their knowledge, as per a report by Mint.
Several customers claimed that money had been moved from their savings accounts and fixed deposits without their consent. Some also alleged that their fixed deposits were prematurely closed and the proceeds transferred to other accounts. Account holders have raised concerns about not receiving SMS alerts for the disputed transactions or signing documents authorising the transfers.
PNB’s preliminary assessment puts the amount transferred at less than ₹10 crore. However, complaints filed by 21 account holders cite alleged losses exceeding ₹11.24 crore, while some customers estimate the total amount involved at nearly ₹35 crore. The final amount is yet to be established.
An FIR has been registered against unidentified bank employees under Section 316(5) of the Bharatiya Nyaya Sanhita (BNS), which deals with criminal breach of trust by a public servant or banker.
In a statement reported by PTI, PNB said, “The Bank assures its customers that all genuine claims will be honoured.” The bank added that it is examining customer complaints on priority and cooperating with investigators.
The lender has confirmed that it has settled three claims amounting to ₹43 lakh so far, and said it will take strict action against anyone found responsible, along with measures to prevent similar incidents.
“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,” a senior PNB official said.
The incident has raised fresh questions about employee access to banking systems, password security, and the independent verification mechanisms needed when large sums are transferred or fixed deposits are closed prematurely. Reports also indicate that the bank’s Delhi head office has put the transferred funds on hold.
