All employees of Punjab National Bank’s (PNB) Accher branch in Greater Noida have been suspended after farmers alleged that more than ₹12 crore was fraudulently transferred from their savings accounts and fixed deposits (FDs). The bank has initiated an internal investigation, while the Central Bureau of Investigation (CBI) has been brought in to probe the alleged fraud, officials said on Wednesday.
Ram Vinod Kumar, lead bank manager for Gautam Budh Nagar district, said PNB’s head office in Delhi had put the disputed amount on hold and that the money would be returned to the affected account holders.
“All staff members, including the branch manager at Accher, have been suspended. The CBI has been brought in to probe the fraudulent activity. PNB is also conducting an internal probe,” Kumar said.
The number of complainants had risen to 25 by Wednesday, according to local police. An anti-corruption team from the Uttar Pradesh government is also investigating the matter.
Farmers allege savings and compensation funds were siphoned off
The alleged fraud came to light when account holders visited the branch to withdraw their money and discovered that funds had been transferred without their consent. On Tuesday, a group of farmers from villages around Accher, near Sector Pi 1, protested outside the branch, alleging that their savings and compensation received for acquired land had been siphoned off.
Amarpal, a resident of Accher, said he had opened three fixed deposits worth ₹40 lakh, ₹30 lakh and ₹10 lakh in his mother Sunita Devi’s name. He had also deposited around ₹12 lakh in her savings account after receiving compensation for land acquired for the Noida International Airport project.
Amarpal said he visited the bank on October 22 after the ₹10 lakh FD matured but was asked to return on October 27. When he subsequently followed up, he was told there was no money left in the deposit.
He alleged that his mother’s bank statement showed the fixed deposits had been prematurely closed on June 16 and the money transferred. A further ₹10 lakh had allegedly been transferred from her savings account.
Account holders report missing land compensation
Another complainant, Sandeep, son of Ranpal and a resident of Biroda village in Greater Noida’s Beta 2 sector, said ₹1.28 crore received as land compensation had been deposited in his family’s bank account.
“On Tuesday, when my brother went to withdraw ₹50,000, he was informed only ₹15,000 were left,” Sandeep said.
The allegations have prompted the bank to suspend the entire branch staff while investigations continue. PNB has said the disputed funds have been put on hold and will be returned, according to the district’s lead bank manager.
Police register case over alleged breach of trust
Police have registered a case under Section 316(5) of the Bharatiya Nyaya Sanhita (BNS), which deals with criminal breach of trust by a public servant or banker, said Sanchit Sharma, assistant commissioner of police, Greater Noida.
“We have registered a case under Section 316(5) of the Bharatiya Nyaya Sanhita (BNS), related to criminal breach of trust by a public servant or banker. An anti-corruption team from the state is also probing the matter,” Sharma said.
The CBI, the state anti-corruption team and PNB’s internal investigation are examining the allegations. The claims of unauthorised transfers remain under investigation.