Noida farmers' Rs 35 crore vanished from PNB village branch: How customers' savings disappeared without OTPs, withdrawal forms or message alerts

Employees of Punjab National Bank’s Aichhar village branch in Greater Noida are under investigation after at least 16 account holders, mostly farmers, accused bank staff of allegedly diverting fixed deposits (FDs) worth an estimated Rs 35 crore without their authorisation, according to a report by TOI. The bank has suspended five employees, including the branch manager, and launched an internal investigation. The branch has remained closed since Tuesday, with account holders gathering outside to protest and demand the return of their money. The alleged losses range from Rs 10 lakh to Rs 1.2 crore in individual cases.

The complainants, from areas including Viroondi Chakrasenpur, Bironda, Aichhar and Site 4, approached Sector Beta 2 police station, alleging that their FDs had been prematurely closed and the proceeds transferred to other accounts. Some also claimed that money had been withdrawn fraudulently and incorrect entries made in their passbooks.

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PNB Aichhar branch fraud: Police register FIR against staff

Police registered an FIR on Wednesday under Section 316(5) of the Bharatiya Nyaya Sanhita (BNS), relating to criminal breach of trust. The FIR brings together 16 complaints and was registered after Shrichand, a resident of Viroondi Chakrasenpur village in Surajpur, alleged that Rs 1.16 crore had been embezzled from an FD linked to his account at the branch, TOI reported.

Additional DCP (Greater Noida) Santosh Kumar told TOI that an ACP had been directed to lead the inquiry. Further action would be taken based on the findings, he said.

Police said the exact amount allegedly involved and the total number of affected accounts would be established only after the investigation.

Greater Noida PNB fraud: Account holders allege unauthorised transfers

One of the complainants, Vineet Bhati of Jai Shiv Transport, approached the police on Tuesday after alleging that Rs 25 lakh had been diverted from his account.

Bhati said he had recently visited the branch to seek advice on investing in mutual funds. According to his complaint, he signed a cheque and related documents at the branch manager’s direction.

He alleged that instead of transferring the money to his savings account, bank employees sent it to another account, reportedly belonging to someone with the same name. Bhati said he returned to the branch to flag the error and asked officials to transfer the money to his account.

The employees initially assured him that the amount would be refunded within a day or two. However, on October 26, he was allegedly told that the bank was assessing the matter and would credit the money after the investigation. Bhati subsequently filed a police complaint and submitted a recording of his conversation with a branch employee.

Other complaints cited in the FIR include allegations by Gautam, a resident of Sector Pi, who said his father had around Rs 94 lakh in his bank account. When Gautam visited the branch on October 26 to withdraw Rs 50,000, he allegedly discovered that only Rs 16,000 remained. He said the bank did not provide a satisfactory explanation.

Another account holder, Sanjay, alleged that an FD worth around Rs 10 lakh had been prematurely closed and the money transferred to another account. Hanif claimed that around Rs 39 lakh had been withdrawn from his account.

According to a complaint filed by Kartari, Rs 98,700 and Rs 6.9 lakh were allegedly diverted from two FDs. Amichand alleged that Rs 10.3 lakh had been taken from his FD.

The complaints also include allegations that more than Rs 1 crore each was diverted from the accounts of Vijay Pal and Subhash. Santosh alleged that around Rs 1.18 crore had been diverted from his account, while Saroj reported an alleged loss of Rs 76 lakh. Bijendra Singh claimed that Rs 88 lakh had been withdrawn from his account, along with Rs 25 lakh from his FDs.

PNB customers protest outside branch, demand refund of deposits

Several account holders gathered outside the Aichhar branch on Tuesday, demanding that their money be returned. One protester from Bironda, who claimed that nearly Rs 1.2 crore had disappeared from his family’s account, said his mother had received around Rs 1.3 crore in compensation linked to a land deal for Narendra Modi International Airport.

“We withdrew Rs 10-20 lakh earlier. But now, Rs 1.2 crore has disappeared from the account. We only found out after relatives alerted us about the irregularities at the bank. The bank has assured us that it will return the money in 10-15 days. We will also approach the police,” he told TOI.

Another protester alleged that bank employees were absent from the branch on Tuesday to avoid responding to account holders’ concerns.

“We have filed complaints with the police and want our money back,” the protester told TOI.

PNB Greater Noida case: Bank begins internal probe

Punjab National Bank has suspended five employees and initiated an internal inquiry into the allegations.

Ram Vinod Kumar, PNB’s lead bank manager for Gautam Budh Nagar, told TOI, “Information about the matter is being collected. Appropriate action will be taken as per the rules after the investigation.”

The Bharatiya Kisan Union (Krishak) has claimed that the suspected embezzlement could be significantly higher, potentially reaching Rs 130-150 crore. The union has demanded a high-level, impartial investigation and warned that it would stage a protest if its demands were not met.

The allegations are under investigation, and the total amount involved remains unconfirmed. Police said the scale of the suspected fraud would become clearer as they examine the complaints and account records.


Inputs from agencies