What is the matter?

Several customers of Punjab National Bank (PNB) in Greater Noida have alleged that money was withdrawn from their savings accounts and fixed deposits without their authorisation or any prior transaction alerts.

The alleged withdrawals from accounts linked to the bank's Aichhar branch in Greater Noida have reportedly amounted to around Rs. 35 crore.

Customers claimed they discovered the missing funds while checking their account balances or attempting to access their money.

They further alleged that they had neither authorised the transactions nor received any messages notifying them of the withdrawals.

Bank responds

PNB said it had taken cognisance of complaints regarding alleged financial irregularities involving certain customers' fixed deposit and savings bank accounts at its Greater Noida branch.

The matter is being examined on priority, and the bank is extending full cooperation to the authorities concerned.

It is also taking necessary steps to verify the facts, assess the extent of the reported discrepancies and address the concerns of affected customers.

The bank said it had already settled three claims amounting to Rs. 43 lakh and assured customers that all genuine claims would be honoured.

In its statement, PNB said, "PNB maintains a zero-tolerance policy towards fraud, financial irregularities and misconduct, and stern action will be taken against those found responsible, in accordance with applicable rules and procedures."

The bank further reiterated its commitment to safeguarding customer interests, maintaining operational integrity and strengthening internal controls and monitoring mechanisms to prevent the recurrence of such incidents.

Police register case, bank employees suspended

Acting on the complaints, the police have registered a case to investigate the alleged financial irregularities.

Several PNB employees, including the branch manager, have reportedly been suspended in connection with the matter.

The investigation is expected to establish how the money was allegedly withdrawn or transferred and identify those responsible for the reported loss of customers' savings.