How did 17 crore in counterfeit notes reach Punjab National Bank?
Around 17 crore rupees in counterfeit notes were discovered at the Punjab National Bank (PNB) currency chest in Saharanpur.
Do you remember? If not, it is important to remind you that when demonetisation was implemented in 2016, the government argued that it was a surgical strike against the illegal trade of counterfeit notes in the country. However, neither did the illegal trade of counterfeit notes stop, nor did it end terrorism. Now, news is coming from Uttar Pradesh that around ₹17 crore in counterfeit notes has been found in the currency chest of Punjab National Bank (PNB) in Saharanpur.
Prabhat Khabar reported that preliminary investigations suggest that counterfeit notes were deposited in the currency chest and real notes were withdrawn in exchange. Following the suspicious role of three bank officials, the bank management has suspended them. The police have formed an SIT for investigation, while a team from the bank headquarters is also investigating the entire matter. The suspended bank officials include Senior Manager Ravi Kumar Kanse from the divisional office, Currency Chest Manager Sushil Sharma, and Manager Amit Kumar from the Currency Chest in Khera Bazaar, Jagadhri. A case was registered against the three by PNB's nodal officer Arun Kumar Chaube at the Kotwali Sadar Bazaar. The bank took this action after their roles were found to be suspicious during the investigation. Part-time housekeeper Vishal Kumar, who was responsible for organizing the bundles of notes in the currency chest, has also been removed from his position.
The police are now trying to find out how such a large number of counterfeit notes reached the currency chest. In the initial investigation, 148 bundles of counterfeit notes were recovered from the currency chest. Each bundle contained 1,000 notes of ₹500. Thus, initially, around ₹7.40 crore in fake notes was discovered. As the investigation progressed, the total amount of counterfeit notes increased to around ₹17 crore. The police are now investigating how the counterfeit notes were deposited in the currency chest and how real notes were withdrawn in exchange.
CCTV footage from the currency chest shows housekeeper Vishal Kumar taking notes from the bundles. He was responsible for organizing the bundles of notes in the currency chest. Based on the footage and other records, the police are working to connect the dots in the entire case. As the investigation progresses, it is expected that the roles of some more bank officials and branch managers may also come to light.
Police teams are conducting raids in Haryana, Uttarakhand, and nearby districts in search of the named accused. Two of the named bank managers are reported to be residents of Yamunanagar. The police have stated that as the investigation progresses, the names of other individuals involved in this case may also emerge.
When security in banks is so tight, how did this lapse occur? And who were the people who executed this incident? The news reports that the police have registered a case at the Sadar police station based on the complaint of PNB's nodal officer Arun Kumar Chaube. According to the registered case, Senior Divisional Manager Ravi Kumar and Currency Chest Manager Sushil Sharma and Amit Kumar have been included as the main accused.
PNB Deputy General Manager Nisha Singh stated,
The news of fraud in the bank came to light when a cash shortage of ₹4.36 lakh was found in the cash sent to the Reserve Bank of India (RBI) on August 10, which was reported during an audit conducted by the RBI where counterfeit notes were discovered.
Nisha Singh said,
“The investigation is ongoing, and once we have complete details and evidence against all relevant parties, the conclusions will be made public.”
Additionally, a separate report has been filed against housekeeper Vishal Kumar regarding the 'clear cash shortage' in the bank. Furthermore, Nisha Singh mentioned that the counting of counterfeit notes is ongoing and the final number is being verified.
DIG Abhishek of Saharanpur has announced the formation of an SIT regarding the fraud and has also reported that FIRs will be filed against those allegedly involved. The counting of notes is ongoing, and he stated that the currency will be recovered after the investigation.
Police officials are examining bank transaction records, ledger accounts, and CCTV footage from the currency stock to ascertain how the notes were exchanged and to investigate the individuals involved in the fraud. News of fraud is becoming increasingly common, with reports of bank robberies, thefts, and dacoities appearing regularly. According to a report by Navbharat Times, an SBI cashier fled with 20 kg of gold and ₹1.1 crore in cash.