Punjab National Bank (PNB) has assured customers affected by alleged financial irregularities at its Greater Noida branch that all genuine claims will be honoured. The bank has already settled three claims amounting to Rs 43 lakh and said other complaints were being examined on priority, according to a Press Trust of India report.
The assurance follows complaints from account holders who alleged that funds had gone missing from their savings accounts and fixed deposits without their knowledge or authorisation.
In a statement, PNB said it was verifying the complaints to determine the extent of the discrepancies and was cooperating with the authorities. "The Bank assures its customers that all genuine claims will be honoured," it said.
The bank also reiterated its zero-tolerance policy towards fraud and misconduct, adding that strict action would be taken against those found responsible. It said internal controls and monitoring systems were being strengthened.
Customers allege losses running into crores
The controversy came to light after around two dozen customers reported discrepancies in their accounts. An FIR has been registered against unidentified bank employees under Section 316(5) of the Bharatiya Nyaya Sanhita, which deals with criminal breach of trust.
A complaint filed by customer Shrichand and other account holders puts the alleged losses suffered by 21 individuals at more than Rs 11.24 crore. However, local customers have estimated the total amount involved at around Rs 35 crore, claiming that savings, fixed deposits and mutual fund investments were affected.
Shrichand alleged that Rs 1.16 crore had been misappropriated from his fixed deposit. Another customer, Bijendra Singh, claimed that his savings account balance had fallen from around Rs 87-88 lakh to just Rs 1 lakh. Haneep Khan alleged a loss of nearly Rs 39 lakh, while Zakir claimed Rs 9.5 lakh had disappeared without any transaction alert.
Several bank employees, including the branch manager, have been suspended. Authorities are examining the complaints, while further legal action is underway.
What should customers do if money goes missing?
The incident has raised concerns about how customers should respond to unauthorised transactions or unexplained changes in account balances.
Adhil Shetty, CEO of BankBazaar, told NDTV that customers should report suspicious transactions immediately and maintain records of all communication with the bank.
Customers should first notify their bank through its official helpline, app or branch and file a formal complaint, keeping the reference number and relevant account statements. If digital fraud is suspected, they can contact the National Cyber Crime Helpline at 1930 or use the National Cyber Crime Reporting Portal.
If the bank fails to respond within 30 days or the customer is dissatisfied with its response, they can approach the RBI Ombudsman through the Reserve Bank of India's Complaint Management System (CMS).