The Central Bureau of Investigation (CBI) has registered a case over alleged unauthorised withdrawals and diversion of funds from savings and fixed deposit accounts at a Punjab National Bank (PNB) branch in Greater Noida, Uttar Pradesh. The bank has identified suspicious debits amounting to ₹10.24 crore so far, according to its complaint to the investigating agency.
The FIR was registered by the CBI’s Anti-Corruption Branch in Ghaziabad on Thursday, following a written complaint submitted by PNB’s Noida Circle Chief Manager on October 23. The complaint concerns suspected irregularities involving an employee of the bank’s Sector Pi branch and other individuals.
CBI Names Bank Employee and Account Holder as Accused
The CBI has named the branch’s office assistant, Deepanshi, and an account holder, Ashutosh Pathak, as accused. The FIR also includes unidentified public and private persons.
The case has been registered under provisions of the Bharatiya Nyaya Sanhita (BNS) relating to alleged criminal conspiracy, criminal breach of trust, cheating, falsification of accounts and misconduct by public servants. Provisions of the Prevention of Corruption Act and the Information Technology Act have also been invoked.
The allegations are under investigation, and the registration of an FIR does not establish the guilt of any person named in the case.
Suspicious Transactions Reported in September
According to PNB’s complaint, the matter first came to light on September 16, when a customer approached the branch head over three doubtful debit transactions in her account.
The bank subsequently examined account activity and identified unauthorised debits totalling ₹10.24 crore across multiple customer accounts. PNB alleged that the funds had been diverted over a period of approximately three years.
The bank has also initiated a reconciliation exercise to determine the full extent of the suspected financial irregularities. The final amount involved may change as the examination of customer accounts and transaction records progresses.
Alleged Misuse of Banking Credentials
The complaint submitted to the CBI states that the branch head questioned Deepanshi about the suspicious transactions. PNB alleged that she admitted carrying out transactions on the instructions of Ashutosh Pathak, whom she reportedly knew.
The bank's preliminary review of system logs, user activity records and transaction details indicated that banking credentials associated with different branch officials may have been misused to carry out unauthorised transactions.
The suspected irregularities reportedly involved changes to customer account particulars, diversion of funds, alteration of fixed deposit receipt (FDR) details and premature closure of fixed deposits. The proceeds were allegedly routed through beneficiary accounts.
These findings are preliminary and will require verification through the CBI investigation and further examination of banking records.
PNB Assures Customers of Genuine Claims
PNB has said it will honour all genuine customer claims arising from the incident. The bank confirmed that it had already settled three claims amounting to ₹43 lakh at the affected branch.
It also stated that it was cooperating with the investigating authorities and taking steps to address customer concerns.
For banks and financial institutions, incidents involving disputed transactions highlight the importance of transaction monitoring, internal controls and independent review of financial records. Businesses and institutions can also explore financial investigation and forensic support when they need assistance examining suspected financial irregularities and discrepancies.
Noida Police Also Registers FIR
Apart from the CBI case, the Noida Police has also registered an FIR in connection with the alleged fraud. The involvement of multiple investigative agencies may help establish the sequence of transactions, identify the movement of funds and determine the role of individuals involved.
The CBI investigation will focus on the alleged unauthorised debits, use of banking credentials and the suspected diversion of customer deposits. The bank's ongoing reconciliation exercise is expected to provide a clearer picture of the number of affected accounts and the total financial exposure.