PNB fund misappropriation case: Bank says genuine claims to be honoured, FIR registered in Gr Noida

New Delhi/Noida Punjab National Bank (PNB) on Thursday (October 29, 2026) assured customers that all genuine claims would be honoured and said it had settled three claims amounting to ₹43 lakh in connection with alleged financial irregularities involving savings accounts and fixed deposits at its Greater Noida branch. The bank said it was examining the complaints on priority and verifying the facts to assess the extent of the reported discrepancies.

“Three claims amounting to ₹43 lakh had been settled as of yesterday. The Bank assures its customers that all genuine claims will be honoured,” PNB said in a statement. The bank said it was extending full cooperation to the authorities concerned and taking necessary steps to address the concerns of affected customers. It reiterated its zero-tolerance policy towards fraud, financial irregularities and misconduct, adding that strict action would be taken against those found responsible in accordance with applicable rules and procedures.

The bank also said it was strengthening internal controls and monitoring mechanisms to prevent a recurrence of such incidents. The development comes after nearly two dozen account holders alleged misappropriation of funds totalling more than ₹11.24 crore from their savings accounts and fixed deposits at the branch. 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, following a complaint by customer Shrichand and other account holders.

According to the complaint, the alleged losses listed for 21 individuals exceed ₹11.24 crore, with two account holders claiming losses of more than ₹1 crore each. Separately, local account holders have estimated the total alleged fraud at around ₹35 crore, claiming that savings accounts, fixed deposits and mutual fund investments were affected. Shrichand, a resident of Surajpur in Greater Noida, alleged that bank employees misappropriated ₹1.16 crore from his fixed deposit.

Other account holders named in the complaint include Kartari, Amichand, Vijay Pal, Santosh, Saroj, Bijendra Singh, Ranpal, Dharm Singh, Haneep Khan, Sonu, Jagdish, Sunita, Akash Bhati, Atender, Chatar Singh, Vinit Bhati, Sanjay, Basanti, and Gajendra. Bijendra Singh, another account holder, told reporters that his savings account, which had held Rs 87-88 lakh, now showed a balance of only ₹1 lakh.

A farmer, he said the money included compensation received from an authority. Haneep Khan alleged that nearly ₹39 lakh had disappeared from his account without authorisation, while another account holder, Zakir, claimed that ₹9.5 lakh was missing and that he had received no text message alerting him to any transaction. Gautam Buddh Nagar Lead District Manager Ram Vinod Kumar told PTI that action was being taken and 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. The alleged irregularities came to light after account holders complained on Wednesday (October 28) that funds had gone missing from their accounts without their authorisation or alerts about the transactions.