The Central Bureau of Investigation (CBI) has intensified its investigation into an alleged multi-crore embezzlement case involving the Punjab National Bank (PNB) branch in Sector Pi-1, Greater Noida. The bank has handed over evidence relating to suspected unauthorised workstation access by an employee, while investigators continue examining financial records and disputed transactions.
PNB has reportedly refunded ₹7.80 crore to 16 affected account holders following an initial verification. The bank has received 58 claims in total, of which 42 remain under scrutiny. Authorities have indicated that the final amount involved in the alleged embezzlement will be determined after the ongoing audit is completed.
CCTV Footage Raises Questions Over Unauthorised Workstation Access
A review of approximately one month of CCTV footage reportedly showed a bank employee identified as Deepanshi accessing workstations that had been left unattended by colleagues.
According to the bank's findings, she was allegedly seen operating keyboards and viewing computer monitors at vacant desks before leaving shortly afterwards. Investigators suspect that she may have misused the login credentials of other employees to conduct unauthorised transactions.
PNB has submitted the footage and related evidence to the central investigating agency for examination. The exact role of each individual and the manner in which the disputed transactions were processed remain subjects of investigation.
The bank has also asked customers to report any suspicious or unauthorised debit entries so that their claims can be examined for possible reimbursement.
49 Fixed Deposits Allegedly Modified and Closed Prematurely
The investigation has reportedly identified suspicious activity involving both savings accounts and fixed deposits.
According to records shared with investigators, 49 term deposits were allegedly closed before maturity after unauthorised changes were made to account details. The names of Ashutosh Kumar Pathak and other unidentified individuals were reportedly added as joint holders to existing fixed deposits.
Investigators suspect that the settlement account details were subsequently altered to transfer the proceeds to suspected beneficiaries.
The inquiry has also identified concerns involving missing transaction vouchers and other branch records. In certain accounts, mobile transaction alerts were reportedly disabled, potentially preventing customers from receiving immediate notifications about account activity.
These findings are being examined as part of the broader investigation into the alleged financial irregularities.
PNB Complaint Names Multiple Branch Officials
The bank's complaint, filed by Chief Manager Ajay Kumar Pandey, reportedly names several branch employees and officials.
Those identified in the complaint include:
Deepanshi, a bank employee identified as the prime accused.
Nisha Tirkey, Senior Branch Manager.
Sandeep Prakash Sharma, Senior Customer Service Associate.
Meenakshi and Satish Kumar, Customer Service Associates.
Shailendra Kumar, Relationship Manager.
Lovely Jain, Officer.
Investigators allege that Deepanshi opened a bank account in her partner's name and routed a substantial portion of the disputed funds into it.
The named individuals' alleged roles remain subject to investigation, and the filing of a complaint does not establish guilt.
₹7.80 Crore Refunded as Remaining Claims Under Review
PNB has reportedly disbursed ₹7.80 crore to 16 account holders after completing an initial verification of their claims.
Out of 58 claims received, 42 are still being examined. Bank audit teams are reviewing approximately three years of financial transactions, vouchers and other records to establish the full extent of the alleged embezzlement.
Sector Beta-2 police have confirmed that the reimbursement process is continuing. The final financial impact will become clearer once the detailed audit findings are submitted.
Two separate cases have reportedly been registered, one by Sector Beta-2 police and another by the central agency. The supplied report states that no arrests had been made at the time of publication and that the accused individuals were reported to be absconding.
Meanwhile, local farmers, account holders and activists have reportedly planned a demonstration outside the branch, demanding faster recovery of customer funds.
Importance of Internal Controls and Financial Audits
The case highlights the importance of effective access management, transaction monitoring, independent verification and regular reconciliation within banking institutions.
Banks rely on internal controls to protect customer deposits and prevent unauthorised changes to account information. Reviewing workstation access, maintaining complete transaction records and ensuring that customers receive timely alerts are important parts of financial risk management.
Organisations seeking to strengthen financial oversight and identify irregularities can explore Shunyatax's internal audit services.