Punjab National Bank authorities and police in Uttar Pradesh are investigating a vault fraud after a cash shortfall of Rs 4.36 lakh during a remittance triggered an audit at a PNB currency chest in Saharanpur. During the verification, investigators allege that notes worth about Rs 7.4 crore were replaced with counterfeit currency.
According to reports, the discovery leads to police registering an FIR against bank officials and private individuals, with a Special Investigation Team (SIT) formed to examine how genuine currency disappeared and how fake notes were allegedly substituted. One outlet says the case stems from a discrepancy found in a cash remittance sent to the RBI on August 10, prompting deeper checks of the vault’s records and physical cash.
The outlets broadly agree on the amounts involved and the sequence of events—shortfall, audit, alleged replacement, and ongoing verification of the full tally of counterfeit notes—while differing mainly in the emphasis on specific named suspects and procedural details. Investigators continue counting and confirming the extent of the alleged counterfeit currency and the roles of those booked.
