Punjab National Bank (PNB) has assured customers that all genuine claims will be honoured following allegations of financial irregularities involving savings accounts and fixed deposits at its Greater Noida branch in Uttar Pradesh.
In a statement issued on Thursday, October 29, 2026, the public sector lender confirmed that it had settled three customer claims amounting to ₹43 lakh. The bank said it was examining the complaints on priority and verifying the facts to determine the extent of the reported discrepancies.
The development follows complaints from nearly two dozen account holders who have alleged that more than ₹11.24 crore was misappropriated from their savings accounts and fixed deposits.
PNB Assures Customers of Genuine Claim Settlements
PNB said it was extending full cooperation to the authorities investigating the matter and taking steps to address concerns raised by affected customers.
The bank reiterated its zero-tolerance approach towards fraud, financial irregularities and misconduct. It also stated that strict action would be taken against individuals found responsible, in accordance with applicable rules and procedures.
In addition, PNB said it was strengthening its internal controls and monitoring systems to reduce the possibility of similar incidents in the future.
The bank's assurance comes as customers seek clarity about the status of their deposits and the process for recovering the money they claim has gone missing.
FIR Registered Against Unidentified Bank Employees
An FIR has been registered against unidentified bank employees following a complaint filed by customer Shrichand and other account holders.
The case has been registered under Section 316(5) of the Bharatiya Nyaya Sanhita (BNS), which deals with criminal breach of trust in the circumstances covered by that provision.
According to the complaints, the alleged financial discrepancies affected 21 individuals, with their claimed losses collectively exceeding ₹11.24 crore. Two account holders reportedly alleged losses of more than ₹1 crore each.
The police investigation is expected to establish how the disputed transactions were carried out and whether any employees or other individuals were involved.
Customers Report Missing Savings and Fixed Deposits
Several account holders have described substantial differences between the balances they expected and the amounts appearing in their accounts.
Shrichand, a resident of Surajpur in Greater Noida, alleged that approximately ₹1.16 crore had been misappropriated from his fixed deposit.
Another customer, Bijendra Singh, told reporters that his savings account, which had reportedly held around ₹87–88 lakh, showed a balance of only ₹1 lakh. He said the funds included compensation received from an authority.
Haneep Khan alleged that nearly ₹39 lakh had disappeared from his account without authorisation. Another account holder, Zakir, claimed that ₹9.5 lakh was missing and that he had not received a text message alert about the transactions.
The complaints also name several other account holders who have reported alleged losses. Their claims are being examined as part of the wider investigation.
Estimated Losses Differ Among Account Holders
While the complaints submitted by 21 individuals reportedly list losses exceeding ₹11.24 crore, some local account holders have estimated that the total amount involved could be around ₹35 crore.
They have claimed that the reported discrepancies may involve savings accounts, fixed deposits and mutual fund investments.
These figures represent different estimates and should not be treated as a confirmed total loss. The actual amount, the number of affected customers and the nature of the transactions will need to be established through the bank's verification process and the police investigation.
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.
Branch Manager and Other Employees Suspended
Police said the bank management had assured customers that their complaints would be addressed. Several employees, including the branch manager, have reportedly been suspended while further action is underway.
The suspensions are administrative measures and do not, by themselves, establish individual responsibility for the alleged irregularities.
The case has drawn attention to the importance of accurate account reconciliation, transaction monitoring and internal financial controls at banking institutions. For organisations reviewing their financial records and internal processes, financial investigation and forensic support can be relevant in identifying discrepancies and examining suspicious financial transactions.
PNB has maintained that genuine customer claims will be honoured. The final extent of the alleged misappropriation and responsibility for the reported discrepancies will depend on the findings of the ongoing investigation.