Rs 35 Crore PNB Fraud: Bank Settles Rs 43 Lakh Claims, Promises to Pay Customers – Full Details

Punjab National Bank (PNB) has come under scrutiny after customers at its Greater Noida branch alleged that nearly Rs 35 crore had disappeared from their savings accounts and fixed deposits. The allegations have raised serious concerns among depositors, particularly those who claim that money was transferred without their permission or knowledge.

Amid growing complaints, PNB has confirmed that it has settled three customer claims worth Rs 43 lakh and assured account holders that all genuine claims connected with the incident will be honoured. The bank has also said that it is examining complaints on priority and cooperating with the authorities to establish the facts.

The development has brought attention to banking security, internal controls and the importance of regularly checking account statements. Here is everything customers should know about the Rs 35 crore PNB fraud case, the amount settled so far, the police investigation and the steps affected depositors can take.

PNB Fraud Case: What Happened in Greater Noida?

The controversy involves alleged financial irregularities at a Punjab National Bank branch in Greater Noida, Uttar Pradesh. Several account holders reported discrepancies in their savings accounts and fixed deposits, claiming that substantial amounts had been transferred or withdrawn without their authorisation.

Some customers also alleged that they did not receive transaction alerts when the disputed transfers took place. This has raised questions about how the transactions were processed and whether appropriate monitoring systems were followed.

According to reports, complaints involving 21 individuals listed alleged losses exceeding Rs 11.24 crore. However, some local account holders have estimated that the total amount involved could be around Rs 35 crore, including savings deposits, fixed deposits and mutual fund investments.

It is important to distinguish between the amounts reported in complaints and the larger estimate shared by account holders. The final financial impact will depend on the investigation and verification of individual claims.

PNB Settles Rs 43 Lakh Across Three Customer Claims

One of the most significant developments in the case is PNB’s confirmation that it has already settled three claims amounting to Rs 43 lakh.

The bank said the payments had been made by Wednesday, October 28, 2026, and assured customers that all genuine claims would be honoured. It is also reviewing other complaints to understand the extent of the alleged discrepancies.

The settlement is an important first step for affected account holders. However, Rs 43 lakh represents only the three claims settled so far and should not be confused with the total amount allegedly missing from customer accounts.

PNB has stated that it is taking the complaints seriously and verifying the facts before determining the extent of the irregularities.

Key Details of the PNB Greater Noida Fraud Case

Note: These figures reflect reported allegations and the bank’s stated settlements. The final amount involved remains subject to verification.

Customers Allegedly Lost Money From Savings Accounts and Fixed Deposits

The case has become particularly concerning because the complaints involve ordinary banking products used by millions of people.

Customers reportedly noticed discrepancies in their savings accounts and fixed deposits. Some claimed that balances had fallen significantly, while others alleged that transactions had taken place without their consent.

A fixed deposit is generally considered a relatively secure way to save money because it allows customers to deposit funds for a specific period at an agreed interest rate. Therefore, allegations involving unauthorised transfers from FDs have caused anxiety among depositors.

Some account holders have also raised concerns about the absence of transaction notifications. However, the precise circumstances surrounding each disputed transaction have not yet been fully established publicly.

The investigation will need to determine how the funds were allegedly moved, whether banking procedures were bypassed and who may have been responsible.

Police Register FIR, Several Bank Employees Suspended

The allegations have also triggered police action. An FIR was registered against unidentified bank employees under Section 316(5) of the Bharatiya Nyaya Sanhita (BNS), which relates to criminal breach of trust.

The complaint reportedly concerns alleged misappropriation involving 21 account holders, with claimed losses exceeding Rs 11.24 crore.

Separately, reports said PNB management had suspended several employees, including the branch manager, following the complaints. The suspensions are part of the bank’s response and should not be treated as proof of guilt. Responsibility will have to be established through the investigation and applicable legal procedures.

Police are examining the allegations, while the bank has said it is cooperating with the relevant authorities.

What Has PNB Said About the Alleged Fraud?

PNB has reiterated that it follows a zero-tolerance policy towards fraud, financial irregularities and misconduct.

The bank has communicated three important points:

1. Claims are being examined: Complaints are being reviewed on priority to verify the reported discrepancies.

2. Genuine claims will be honoured: The bank has assured customers that legitimate claims connected with the incident will be settled.

3. Action against those responsible: PNB has said strict action will be taken against anyone found responsible, in accordance with applicable rules and procedures.

The lender has also stated that it is strengthening internal controls and monitoring mechanisms to reduce the possibility of similar incidents in the future.

For customers, the key issue now is how quickly their complaints are verified and how transparently the bank communicates the outcome.

What Should PNB Customers Do If Money Is Missing From Their Account?

The Greater Noida incident is a reminder that customers should regularly monitor their bank accounts, even when they have not made any recent transactions.

Anyone who notices an unfamiliar withdrawal, transfer or FD-related discrepancy should take immediate action.

1. Contact the Bank Immediately

Customers should contact their bank through its official customer-care number or visit the nearest branch. They should clearly identify the disputed transaction and request that the complaint be registered.

2. Submit a Written Complaint

A written complaint creates an official record. Customers should keep a copy of the application, complaint reference number and any acknowledgement received from the bank.

3. Collect Account Statements and Documents

Keep relevant savings account statements, FD receipts, transaction details, SMS alerts and other supporting documents. These records can help establish the difference between the expected and actual account balance.

4. Report Suspected Digital Fraud

If the suspected loss involves an online or digital transaction, customers should report it immediately through the National Cyber Crime Helpline at 1930. A complaint can also be submitted through the official National Cyber Crime Reporting Portal.

Quick reporting is particularly important when money has been transferred electronically.

5. Escalate the Complaint If Necessary

If the bank does not resolve the complaint within 30 days, or the customer is dissatisfied with its response, they can consider approaching the RBI’s Integrated Ombudsman mechanism through the official Complaint Management System, subject to the applicable eligibility conditions.

Does the PNB Fraud Case Mean Customer Deposits Are Unsafe?

The allegations have understandably created concerns among customers, but one reported branch-level incident should not automatically be interpreted as evidence that all PNB deposits are unsafe.

Banks operate under regulatory requirements and are expected to maintain internal checks, transaction monitoring and customer grievance systems. When allegations of irregularities emerge, the bank and investigating authorities must establish the facts and address genuine losses.

Customers should avoid relying on unverified social media claims about the incident. Instead, they should follow official bank communications and retain documentation of their own transactions.

It is also useful to understand deposit insurance. Under the DICGC framework, eligible deposits are insured up to Rs 5 lakh per depositor per bank, including principal and interest, subject to applicable rules and conditions. This protection is not a substitute for the bank’s responsibility to investigate and resolve genuine claims.

What Happens Next in the PNB Greater Noida Case?

The next important stage will be the verification of complaints and the investigation into the alleged transactions.

PNB will need to examine customer records, transaction histories and relevant internal processes to determine the extent of the discrepancies. Investigators will also look into the allegations against unidentified employees and establish whether any criminal misconduct occurred.

The bank’s assurance that all genuine claims will be honoured is significant, but affected customers will be watching for timely settlements and clear communication.

The difference between the initial complaint amount of more than Rs 11.24 crore and the wider estimate of around Rs 35 crore also makes a comprehensive assessment important.

Until the investigation is completed, the larger figure should be treated as an allegation rather than a confirmed loss.

Frequently Asked Questions (FAQs)

1. What is the Rs 35 crore PNB fraud case?

The case concerns allegations of financial irregularities at a PNB branch in Greater Noida. Customers have claimed that money disappeared from their savings accounts and fixed deposits without authorisation. Some account holders have estimated the alleged loss at around Rs 35 crore.

2. How much money has PNB settled so far?

PNB confirmed that it had settled three customer claims worth Rs 43 lakh as of October 28, 2026.

3. Will PNB refund all affected customers?

The bank has assured customers that all genuine claims connected with the alleged irregularities will be honoured. Individual complaints are being examined and verified.

4. How many customers are involved in the initial police complaint?

The initial complaint reportedly involved 21 individuals, with alleged losses exceeding Rs 11.24 crore.

5. Have PNB employees been suspended?

Reports indicate that several employees, including the branch manager, were suspended following the allegations. The investigation will determine responsibility.

6. Where can customers report banking fraud in India?

Customers should immediately contact their bank. For suspected online financial fraud, they can call the National Cyber Crime Helpline at 1930 or use the official cybercrime reporting portal.

7. Can customers approach the RBI Ombudsman?

Yes. Customers can approach the RBI’s Integrated Ombudsman mechanism if their complaint meets the applicable conditions, including situations where the bank does not respond within 30 days or the customer is dissatisfied with its response.

Conclusion

The Rs 35 crore PNB fraud allegations in Greater Noida have raised serious questions about banking security and customer protection. Punjab National Bank has already settled three claims worth Rs 43 lakh and promised to honour all genuine claims linked to the incident.

However, the reported settlement is only an initial step. Customers are waiting for the verification of their complaints, while police investigate the allegations and the bank reviews its internal controls.

The final scale of the alleged irregularities will become clearer as the investigation progresses. Until then, account holders should monitor their deposits, report suspicious transactions immediately and keep all relevant financial documents.