Punjab National Bank Saharanpur Vault Fraud: ₹7.4 Crore In Real Currency Replaced With Fake Notes

Saharanpur: A cash vault fraud has come to light from Uttar Pradesh's Sharanpur. Currency notes worh Rs 7.4 crore were reportedly replaced with counterfeit ones at a Punjab National Bank (PNB) money vault.

An FIR has been registered against bank officials and private individuals, while a Special Investigation Team (SIT) has been formed to investigate how the alleged substitution took place.

The case was registered at Sadar police station on the complaint of PNB nodal officer Arun Kumar Chaubey. The FIR names senior divisional manager Ravi Kumar and currency chest managers Sushil Sharma and Amit Kumar among the primary suspects, according to Mondycontrol report. A housekeeper was also booked.

The fraud came to light after a cash remittance sent to the RBI on August 10 was found to be short by Rs 4.36 lakh, PNB chief deputy manager Nisha Singh said. The discrepancy triggered a detailed audit of the vault, during which investigators allegedly found a large stock of counterfeit currency inside the bank’s money vault.

“The inquiry is in progress, and once we have complete details and evidence against everyone involved, the findings will be made public. The final tally of fake currency is still being verified as counting continues,” Singh said as qouted by Times of India.