PNB Greater Noida branch under probe for alleged Rs 35 crore fraud

A Punjab National Bank (PNB) branch in Aichhar village, Greater Noida, Uttar Pradesh, is under investigation after approximately Rs 35 crore allegedly went missing from customer accounts without authorization. The discrepancies came to light on October 28, 2026, when multiple account holders discovered unexplained fund transfers and zero balances. According to reports, around 30 account holders have filed complaints, with at least 18 filing formal police reports at Beta-2 police station.

Affected customers reported dramatic losses. Haneef Khan stated his savings account balance dropped from Rs 39 lakh to zero. Vijendra Singh, a farmer, saw his account reduced from Rs 87-88 lakh to Rs 1 lakh—compensation he had received from authorities for land acquisition. Another customer reported Rs 1.29 crore in compensation for the Jewar airport project reduced to near zero, with Rs 1.18 crore unaccounted for. Zakir reported Rs 9.5 lakh missing. Notably, customers claimed they received no SMS alerts, OTP notifications, or transaction confirmations for the transfers, and said they had not signed any authorization documents.

The bank suspended five employees, including the branch manager, and deployed new staff to the branch. An FIR was registered under provisions concerning misappropriation by public servants. The exact cause—whether funds were stolen, lost to digital fraud, or mishandled due to error—remains under investigation. PNB's anti-corruption team and police are conducting separate inquiries. Bank officials initially assured customers that funds would be credited back by Thursday, though the full scope of the incident and affected accounts had not been officially disclosed as of the latest reports. Some sources cited allegations from farmer unions claiming the total misappropriation could exceed Rs 130-150 crore, though official confirmation of the total amount was pending.