PNB Greater Noida branch takes cognizance of alleged fraud; settled claim of Rs 43 lakh

New Delhi: State-run Punjab National Bank (PNB) on Friday said it has taken serious cognisance of complaints regarding alleged financial irregularities involving certain fixed deposit (FD)  and savings bank accounts at its Greater Noida branch and settled claims worth Rs 43 lakh so far.

In a statement posted on social media platform X, the bank said the matter was being examined on priority and that it was extending full cooperation to the authorities concerned.

"The bank is taking necessary steps to verify the facts, assess the extent of the reported discrepancies and address the concerns of affected customers," it added.

The PSU lender said three claims amounting to Rs 43 lakh have been settled till now and assured customers that all genuine claims would be honoured.

PNB also reiterated its zero-tolerance policy towards fraud, financial irregularities and misconduct, adding that stern action would be taken against those found responsible in accordance with applicable rules and procedures.

The bank said it remained committed to safeguarding customer interests, maintaining operational integrity and strengthening internal controls and monitoring mechanisms to prevent recurrence of such incidents.

The statement came after several customers alleged that large sums of money had been withdrawn from their accounts without authorisation at PNB's ‘Sector PI-1’ branch in Greater Noida

According to affected customers, funds running into crores of rupees had allegedly gone missing from their accounts. They claimed that following the discovery of the issue, the bank replaced the entire branch staff and assured customers that efforts were underway to resolve the matter.

One account holder -- identified as Sonu -- alleged that nearly Rs 90 lakh was missing from his account. He claimed bank officials had provided an explanation for the disappearance of funds and assured him that the money would be restored.

Another customer, Rahul alleged that around Rs 51 lakh had been withdrawn without authorisation from his mother's account. He said the account was not linked to a mobile number, preventing the family from receiving transaction alerts.

Similarly, a third customer Sonu Sagar claimed his father's account balance had fallen from around Rs 88 lakh to about Rs 1,290. He alleged that the suspected embezzlement had been continuing for several years.

However, customers have lodged complaints with the police over the alleged fraud. One complainant alleged that after reporting discrepancies, he was initially asked by bank officials to return after a day or two. Upon revisiting the branch, he claimed senior officials were unavailable and normal banking operations had been disrupted.