PNB Greater Noida: Rs 35 Crore Missing From Accounts, Customers Say They Got No Alerts

Around Rs 35 crore is alleged to have gone missing from savings accounts and fixed deposits held at a Punjab National Bank (PNB) branch in the Aichhar area of Greater Noida, according to complaints from several customers. The allegations have led to a police investigation and the suspension of a number of bank employees, including the branch manager.

Affected account holders say they neither authorised the transactions nor received any text message or alert informing them that funds had moved out of their accounts. Many say they learnt of the problem only when they checked their balances or tried to withdraw money. The circumstances in which the funds allegedly disappeared have not yet been fully established, and the investigation is continuing.

For Haneef Khan, the disappearance of his savings has raised a straightforward question: how could money leave his account without his knowledge? "My savings account had Rs 39 lakh, but now nothing is showing in it. I neither received any message nor signed any document authorising the transfer of funds," Khan told PTI.

The alleged losses are especially painful for customers whose accounts held compensation paid for land acquired by the authorities. Vijendra Singh, a farmer, told reporters that his savings account had earlier held around Rs 87 lakh to Rs 88 lakh. The balance now stands at about Rs 1 lakh, he said.

Another case involves Santosh, a 60-year-old tea and samosa vendor from Bironda village. According to The Indian Express, her account had received Rs 1.29 crore as compensation for land acquired for the Jewar Airport project. She has said that Rs 1.18 crore was found missing when her family checked the account. Her son reportedly learnt of the shortfall when he tried to withdraw funds. Santosh and her sister later sat outside the branch along with other affected customers seeking answers.

These cases point to the wider distress among depositors. For families who received compensation after giving up land, such sums often represent years of security and the means to meet future expenses. The allegations have left them seeking clarity on what happened to their money and whether it can be recovered.

Zakir, another account holder, alleged that Rs 9.5 lakh had gone missing from his account. He said he received no text message about the transactions and came to know of the alleged fraud only after visiting the branch. The complaints involve both savings accounts and fixed deposits, with customers reporting sharply reduced balances. The exact route taken by the money remains unclear.

Following the complaints, PNB management suspended several employees, including the branch manager. A case has been registered at the Beta-2 police station, which has jurisdiction over the area. Police said the investigation was continuing, and bank officials have assured the authorities that they will address the account holders' grievances.

Under existing rules, deposits with scheduled banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to Rs 5 lakh per depositor per bank, covering both principal and interest. Customers who believe their accounts have been wrongly debited can also approach the Reserve Bank of India's Integrated Ombudsman Scheme, 2021, after first raising the matter with the bank and waiting for a response within the prescribed period.

Banking experts say depositors in such cases should immediately inform the branch in writing, preserve account statements and any available records, file a police complaint, and keep copies of all correspondence. The outcome of the present investigation will determine what recourse is available to the affected account holders, and officials have not indicated a timeline for completing the inquiry.