PNB Greater Noida Branch Faces ₹12 Crore Fraud Allegations; All Employees Suspended as Probe Intensifies
Around 25 customers have approached the police, alleging that money was transferred from their savings accounts and fixed deposits without their consent. The bank says the disputed amount has been put on hold by its Delhi head office and will be returned, while investigators examine the alleged financial irregularities.
Place: Greater Noida, Uttar Pradesh
Date: October 29, 2026
A major financial controversy has emerged at the Accher branch of Punjab National Bank (PNB) in Greater Noida, where a group of farmers and other account holders have alleged that more than ₹12 crore was fraudulently transferred from their bank accounts and fixed deposits. Following the complaints, the bank has suspended all employees posted at the branch, including the branch manager, as investigations into the alleged irregularities gather pace.
According to police officials, the complaints involve money allegedly moved from customers’ savings accounts and fixed deposits without their knowledge or authorisation. Several affected account holders reportedly discovered the suspected discrepancies when they visited the branch to withdraw their savings or access funds they believed were safely deposited in the bank.
The matter has raised serious concerns among local residents, particularly farmers who had deposited compensation received for land acquired for development projects. For many families, the money represented years of savings or compensation intended to support their households, purchase land, meet agricultural expenses and secure their financial future.
PNB suspends entire branch staff
Punjab National Bank has taken disciplinary action by suspending all employees at its Accher branch, including the branch manager. Ram Vinod Kumar, the lead bank manager for Gautam Budh Nagar district, said the disputed amount had been put on hold by the bank’s head office in Delhi and would be returned to the affected customers.
Kumar also confirmed that the bank had initiated an internal investigation to determine how the alleged transactions took place and who might be responsible. The involvement of the Central Bureau of Investigation (CBI) was also reported as part of the probe into the suspected financial wrongdoing.
The investigation is expected to examine account records, fixed deposit transactions, withdrawal requests and other banking documents to establish how the money was allegedly transferred. Investigators will also seek to determine whether the transactions were carried out through unauthorised access, misuse of banking procedures or any other means.
Farmers protest after discovering missing savings
The alleged fraud came into public attention after a group of farmers from villages around Accher staged a protest outside the bank branch on Tuesday. The protest took place near Sector Pi 1 in Greater Noida, with account holders demanding answers about the money they claimed had disappeared from their accounts.
Several complainants alleged that their savings and land compensation funds had been moved without their permission. The number of people reporting suspected losses continued to increase, reaching 25 by Wednesday, according to local police.
The complaints have highlighted the financial difficulties that affected families could face while waiting for their money to be recovered. Some account holders said they had visited the bank expecting to withdraw their funds, only to learn that the balances or deposits they relied on were no longer available as expected.
Family alleges ₹40 lakh in fixed deposits was transferred
One of the complainants, Amarpal, a resident of Accher, alleged that his family had deposited substantial sums in fixed deposits and a savings account held in his mother Sunita Devi’s name.
According to Amarpal, three fixed deposits worth ₹40 lakh, ₹30 lakh and ₹10 lakh had been opened in his mother’s name. In addition, approximately ₹12 lakh had been deposited in her savings account after the family received compensation for land acquired for the Noida International Airport project.
Amarpal said he visited the bank on October 22 to withdraw money after the ₹10 lakh fixed deposit matured. However, he was reportedly asked to return on October 27. When he visited again, he was allegedly informed that the money was no longer available in the deposit.
He further claimed that the bank statement showed the fixed deposits had been prematurely closed on June 16 and the proceeds transferred. He also alleged that another ₹10 lakh had been moved from his mother’s savings account.
These allegations are now part of the broader investigation into the suspected irregularities. Investigators will need to examine the relevant bank records and transaction authorisations to establish what happened to the funds and whether the transfers were legitimate.
Another family reports discrepancy involving ₹1.28 crore
Another account holder, Sandeep, the son of Ranpal and a resident of Biroda village in Greater Noida’s Beta 2 area, also alleged that his family had discovered an unexpected reduction in its bank balance.
Sandeep said approximately ₹1.28 crore received as land compensation had been deposited in his family’s account. According to him, the family became suspicious when his brother visited the branch on Tuesday to withdraw ₹50,000.
Instead of finding the expected balance, his brother was reportedly informed that only ₹15,000 remained in the account.
The family has raised concerns over the substantial difference between the amount it believed was deposited and the balance reportedly available. The circumstances surrounding the alleged transactions will need to be verified through the bank’s records and the ongoing investigation.
The case has drawn particular attention because some of the disputed funds were reportedly linked to land acquisition compensation. Such payments can represent a major financial resource for families whose land has been acquired for infrastructure and development projects.
Police register case; anti-corruption team joins investigation
The Greater Noida Police have registered a case under Section 316(5) of the Bharatiya Nyaya Sanhita (BNS), which concerns criminal breach of trust in specified circumstances involving public servants, bankers and other persons covered by the provision.
Sanchit Sharma, Assistant Commissioner of Police in Greater Noida, said that an anti-corruption team from the state had also joined the investigation.
The authorities are examining the complaints to establish how the alleged transfers occurred, whether banking procedures were violated and whether any individuals were involved in the suspected wrongdoing. The investigation will also need to establish the amount involved and the circumstances of each customer’s reported loss.
Meanwhile, PNB’s internal inquiry is expected to focus on the branch’s handling of fixed deposits, account closures and fund transfers. The suspension of all branch employees marks a significant step by the bank while the allegations are examined.
Investigation underway as customers await recovery of funds
The alleged ₹12 crore fraud has left affected customers seeking clarity about the status of their money and the steps being taken to restore their savings. The bank’s statement that the disputed funds have been put on hold and will be returned may offer some reassurance, although the recovery process and individual claims will need to be addressed through the appropriate procedures.
With 25 complainants reported so far, investigators are working to establish the full scope of the alleged irregularities. The probe will also seek to determine whether the complaints are connected through a common pattern of transactions or involve separate incidents.
The case has renewed attention on the importance of protecting customers’ deposits and ensuring that banking transactions are properly authorised and monitored. For the affected families, the immediate priority remains recovering their money and obtaining clear answers about how the alleged transfers took place.
The investigation is ongoing, and the allegations against any individuals involved remain subject to verification and the legal process.
News source: Information for this article was gathered from a variety of reliable news outlets.
