A police case has been registered after about ₹35 crore was allegedly found missing from customer accounts at Punjab National Bank’s Sector PI-1 branch in Greater Noida, with customers alleging that fixed deposits were closed prematurely and money transferred to other accounts without authorisation. The bank has suspended the branch manager and four other employees, while police and the bank conduct separate investigations.
The branch falls under the Beta-2 police station area. Assistant Commissioner of Police-1 Sanchit Sharma said complaints received from customers were being examined. The police case names employees of the branch, although the source report does not specify the sections of law invoked or the total number of complainants.
PNB’s regional office has deployed new staff at the branch following the allegations. Bank officials are also conducting an internal inquiry into the suspected fraud. Chief Manager Rakesh Nigam told depositors and journalists gathered outside the branch that the bank had not yet established when the alleged irregularities began. He described the matter as a fraud case and said those found responsible would be arrested and sent to prison, according to the report.
Customers began checking their accounts after some of them received messages and telephone calls allegedly linked to the branch. The communications reportedly told customers that withdrawals of more than ₹1 lakh would require four to five days’ advance notice. One customer found the message suspicious and checked the account, after which the alleged disappearance of funds came to light. Other customers then examined their savings accounts and fixed deposits and reported similar concerns.
The amounts cited by individual depositors vary. According to the report, one account holder claimed that ₹1 crore was held in the account, while another referred to ₹10 lakh. Police and bank authorities have not yet released a verified account-by-account assessment, and the reported figure of about ₹35 crore remains part of the allegations under investigation.
Several customers visited the branch with passbooks to verify their balances and the status of their deposits. Some also sat outside the branch in protest and demanded the return of their money. An official cited in the report said more people were still expected to come forward with complaints and that the process could continue into the following week.
The case places the immediate focus on how the alleged premature closure of fixed deposits and transfers between accounts were carried out, and on the bank’s process for identifying affected customers. The source report does not provide details of any recovery, compensation decision, regulatory action or confirmation of the final loss. Police and PNB’s internal inquiry are continuing.
