Punjab National Bank has settled three customer claims worth Rs 43 lakh and promised to honour all genuine claims after allegations of large-scale financial irregularities at its Greater Noida branch, where account holders have reported missing savings, fixed deposits and investments.
The bank said it was verifying complaints to establish the extent of the discrepancies and was examining other grievances on priority. It also said it was cooperating with authorities and strengthening internal controls and monitoring systems.
“The Bank assures its customers that all genuine claims will be honoured,” PNB said in a statement cited by Press Trust of India.
The controversy surfaced after nearly two dozen customers complained that money had been withdrawn or removed from their accounts and fixed deposits without their knowledge or authorisation. An FIR has been registered against unidentified bank employees under Section 316(5) of the Bharatiya Nyaya Sanhita, which deals with criminal breach of trust.
The complaint filed by customer Shrichand and other account holders alleges that 21 individuals suffered losses exceeding Rs 11.24 crore. Two customers have claimed losses of more than Rs 1 crore each. Local account holders have separately estimated the alleged fraud at around Rs 35 crore, although the final scale has not been established.
Shrichand, a resident of Surajpur in Greater Noida, alleged that Rs 1.16 crore had been misappropriated from his fixed deposit. Another customer, Bijendra Singh, told reporters that his savings account, which had held around Rs 87-88 lakh, showed only Rs 1 lakh. Singh said the money included compensation received from an authority.
Other customers have also reported alleged losses. Haneep Khan claimed that nearly Rs 39 lakh had gone missing from his account, while another account holder, Zakir, alleged that Rs 9.5 lakh disappeared without a transaction alert or text message.
Gautam Buddh Nagar Lead District Manager Ram Vinod Kumar told PTI that action was being taken and that the grievances of account holders were being examined. Police said the bank management had assured customers that their complaints would be addressed. Several employees, including the branch manager, have been suspended, and further legal action is underway.
Consumer finance experts have advised account holders who discover unauthorised transactions to notify their bank immediately through its official helpline, branch or banking application. Customers should also file a formal complaint, retain the reference number and preserve account statements, transaction details and written communication.
Suspected online banking fraud can be reported to the National Cyber Crime Helpline at 1930 or through the government’s National Cyber Crime Reporting Portal. Adhil Shetty, CEO of BankBazaar, told NDTV that prompt reporting and maintaining a record of all communication can help customers pursue a resolution.
Customers may approach the Reserve Bank of India’s Complaint Management System if the bank does not respond within 30 days or if they are dissatisfied with its response. PNB said strict action would be taken against anyone found responsible after its examination and investigation are completed.
