Farmers claim money disappeared without authorisation; five bank employees suspended as police investigate alleged irregularities
News Desk: Serious allegations of financial fraud have surfaced at a Punjab National Bank (PNB) branch in Greater Noida, where customers have claimed that nearly ₹35 crore disappeared from their savings accounts and fixed deposits (FDs) without their knowledge or consent.
The alleged fraud has triggered police action and an internal bank investigation. Five employees, including the branch manager, have reportedly been suspended. Several affected customers are farmers who had deposited compensation received for land acquired for the Noida International Airport project.
The case has raised concerns over banking security, internal controls and the protection of depositors’ hard-earned savings.
Customers Discover Missing Savings
The alleged irregularities came to light after customers visited the bank and discovered substantial discrepancies in their account balances.
Vijendra Singh, a farmer, claimed that his savings account, which previously held around ₹87 lakh to ₹88 lakh, showed a balance of just ₹1 lakh. Another customer, Haneef Khan, alleged that approximately ₹39 lakh had disappeared from his account.
Khan claimed that he had neither authorised the disputed transfers nor received alerts about the transactions. Another depositor, identified as Zakir, reportedly discovered that around ₹9.5 lakh was missing from his account.
Greater Noida PNB Fraud: How ₹35 Crore Allegedly Vanished from Savings Accounts & Fixed Deposits https://t.co/3mswfviy4L
— The Researchers (@TheResearcherss) October 29, 2026
The complaints have prompted customers to question how such large amounts could allegedly be transferred without their knowledge.
Unauthorised Transfers and Premature FD Closures Suspected
Preliminary reports suggest that the alleged irregularities may involve unauthorised fund transfers, premature closure of fixed deposits and questionable account entries.
Some customers have alleged that their fixed deposits were closed before maturity and the proceeds transferred elsewhere without their consent. Others have complained of discrepancies in their passbooks and account statements.
One customer, Vineet Bhati, alleged that ₹25 lakh was diverted after he approached the branch for advice on investing in mutual funds. According to his complaint, he signed a cheque and documents at the branch manager’s instructions, but the money was allegedly transferred to another account instead of being invested as intended.
The exact method used to move the funds, the identity of the beneficiaries and the extent of any employee involvement remain to be established through the investigation.
Farmers’ Land Compensation Also Affected
The alleged fraud has caused particular concern because some affected customers had deposited compensation received for land acquired for the Jewar airport project.
Santosh, a 60-year-old woman from Bironda village who reportedly runs a tea and samosa stall, alleged that her family had deposited ₹1.29 crore in a PNB account as land compensation. She claimed that ₹1.18 crore was missing when her son visited the branch to withdraw money.
Another customer, Dharamveer, 75, reportedly alleged that his account balance had fallen from ₹17.5 lakh to just ₹61,000.
For families who depend on land compensation to meet future expenses, the alleged loss of substantial savings has created anxiety and uncertainty.
Five Employees Suspended, Police Investigation Underway
Following the complaints, five bank employees, including the branch manager, were reportedly suspended pending investigation.
Greater Noida police have registered an FIR against bank staff under Section 316(5) of the Bharatiya Nyaya Sanhita, which deals with criminal breach of trust by specified categories of persons. Multiple customer complaints have reportedly been brought together in the case.
The bank has initiated an internal inquiry, while investigators are examining the disputed transactions and the circumstances in which the money was allegedly transferred.
Customers have gathered outside the branch demanding answers and the restoration of their deposits. Reports have also indicated that the disputed funds were placed on hold by the bank’s higher authorities, although the final recovery position for individual customers remains to be established.
Is the ₹35 Crore Loss Confirmed?
The figure of ₹35 crore represents the amount widely cited in connection with the customers’ allegations. It should not yet be treated as a final, independently established loss.
The investigation will need to determine the total amount involved, trace the movement of the funds, establish whether transactions were authorised and identify any individuals responsible for the alleged irregularities.
The reported suspension of employees and the initiation of an investigation do not, by themselves, establish criminal guilt.
Banking Security Under Scrutiny
The Greater Noida PNB case has raised serious questions about the safeguards meant to protect customers’ savings. Investigators will need to examine how the disputed transactions were processed, whether customer consent was properly verified and why the alleged discrepancies were not detected earlier.
For depositors, the immediate priorities are clear: determining where the money went, establishing accountability and ensuring the timely restoration of legitimate claims.
The incident also underscores the importance of checking account statements and fixed-deposit records regularly. Customers who suspect unauthorised transactions should preserve bank statements, FD receipts, transaction alerts and complaint acknowledgements, and report discrepancies promptly.
The bottom line: The alleged ₹35 crore PNB fraud in Greater Noida has shaken the confidence of customers, particularly farmers whose land compensation was deposited in the bank. The final amount involved, the responsibility of individual employees and the recovery of the disputed funds will depend on the findings of the ongoing investigation.
