Counterfeit cash replaces ₹7.4 crore in Punjab National Bank vault in Uttar Pradesh
Authorities say genuine notes worth ₹7.4 crore were swapped for fake ones in a PNB vault in Saharanpur, prompting a police FIR and a Special Investigation Team.
In Saharanpur, Uttar Pradesh, real currency amounting to ₹7.4 crore was allegedly replaced with counterfeit notes inside a Punjab National Bank vault. The case was filed at Sadar police station following a complaint by PNB nodal officer Arun Kumar Chaubey, and the FIR lists senior divisional manager Ravi Kumar and chest managers Sushil Sharma and Amit Kumar as primary suspects, with housekeeper Vishal Kumar also implicated.
The irregularity emerged when a cash remittance sent to the Reserve Bank of India on Aug 10 revealed a deficit of ₹4.36 lakh, prompting a detailed RBI audit that identified the fake notes. PNB deputy manager Nisha Singh said the tally of counterfeit currency is still being verified, while Saharanpur DIG Abhishek announced the formation of a Special Investigation Team to examine transaction records, audit ledgers and CCTV footage. Investigators aim to determine how the counterfeit bills entered the chest and to recover the embezzled amount.
Why it matters
The incident exposes vulnerabilities in bank cash handling and could affect public confidence in the financial system.
In this story
