PNB Greater Noida branch case: bank settles Rs 43 lakh, promises all genuine claims
By Siddharth VermaBusiness Correspondent, Peepals Bharat
Representative image: itkannan4u / Pixabay
PNB said on 29 October 2026 it had settled three claims worth Rs 43 lakh after customers of a Greater Noida branch alleged that about Rs 35 crore went missing from their accounts.
What Happened
Punjab National Bank (PNB) said on Thursday, 29 October 2026 that it had settled three claims worth Rs 43 lakh and would honour all genuine claims, after customers of one of its branches in Greater Noida, Uttar Pradesh, alleged that money had been taken from their savings accounts and fixed deposits without their consent. Account holders put their combined losses at nearly Rs 35 crore; the bank has not confirmed that figure, which remains subject to verification. Several branch employees, including the branch manager, have been suspended, according to reports.
Key Facts
- Bank statement: "Three claims amounting to Rs 43 lakh had been settled," PNB said on 29 October 2026, adding that all genuine claims will be honoured.
- Customers' allegation: nearly Rs 35 crore went missing from savings accounts and fixed deposits (FDs) at a Greater Noida branch.
- Several customers said they neither authorised the transfers nor received SMS alerts about them.
- One complaint lists 21 account holders whose alleged losses add up to more than Rs 11.24 crore; at least two customers say they lost more than Rs 1 crore each.
- Staff action: several employees, including the branch manager, have been suspended, according to reports; the bank has not given a number.
- The total amount, the method used and the people responsible have not been officially established.
Why It Matters
Fixed deposits in public-sector banks are seen by many Indian families, especially older savers, as the safest place for their money. A case in which customers say large sums left their accounts without their knowledge goes to the heart of that trust. The quick statement from PNB, and its promise to honour genuine claims, is aimed at reassuring depositors at the branch and beyond.
The gap between the two numbers is important. Customers have alleged losses of about Rs 35 crore, but so far the bank has settled claims worth Rs 43 lakh, a little over 1% of that figure. Each claim has to be checked against the bank's records, so settlements will take time. Until the investigation finishes, it is not known how much money was actually taken or how it was moved.
The case also highlights why alerts matter. Banks are required to send customers SMS or email alerts for transactions, and a customer who reports an unauthorised transaction quickly is generally better protected under the Reserve Bank of India's rules on customer liability. Several customers said they received no alerts, which, if confirmed, will be a key question for investigators.
| Item | Figure | Status |
|---|---|---|
| Losses alleged by customers | Nearly Rs 35 crore | Not confirmed by the bank |
| Claims settled by PNB | Rs 43 lakh (three claims) | As of 29 October 2026 |
| Alleged losses in one complaint | Over Rs 11.24 crore (21 account holders) | Under verification |
| Staff suspended | Several, including branch manager | According to reports |
Impact
Short-term: Affected customers must file claims and wait for the bank to verify them. Other PNB customers in the area are likely to check their passbooks, FD receipts and statements.
Long-term: The investigation may lead to tighter internal checks at branches, particularly on FD closures and large transfers, and to closer scrutiny of whether transaction alerts are actually reaching customers.
Who is affected: Account holders at the Greater Noida branch, PNB's depositors more widely, bank employees under investigation, and regulators overseeing branch-level controls.
Key Takeaway
PNB has settled Rs 43 lakh of claims and promised to honour all genuine ones, but the nearly Rs 35 crore that Greater Noida customers say is missing has not yet been verified.
Questions and Answers
What is the PNB Greater Noida fraud case?
Customers of a Punjab National Bank branch in Greater Noida allege that nearly Rs 35 crore was taken from their savings accounts and fixed deposits without their consent. PNB has not confirmed the total, which is still being verified.
How much has PNB paid back so far?
PNB said on 29 October 2026 that three claims worth Rs 43 lakh had been settled, and that all genuine claims will be honoured.
Has anyone been held responsible?
Several branch employees, including the branch manager, have been suspended, according to reports. The investigation has not yet established who was responsible or how the money was moved.
What should bank customers do to protect their deposits?
Customers should check account statements and FD receipts regularly, make sure their mobile number is registered for transaction alerts, and report any transaction they did not make to the bank at once, since quick reporting generally limits a customer's liability under RBI rules.
Disclaimer: Prepared by the Peepals newsroom from publicly available sources with AI assistance. Information is accurate to the best of our knowledge at the time of publication and may change. Images may be representative. Not professional advice. Report an error via our contact page.
By Siddharth Verma, Business CorrespondentCovers Business and more for Peepals Bharat. All stories by Siddharth Verma
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Siddharth Verma is a pen name of the Peepals Global Editorial Team, which researches, fact-checks and publishes every story. The portrait is an illustration.
