Large Counterfeit Currency Operation Uncovered at Punjab National Bank

Authorities in Saharanpur, India, have reported the discovery of counterfeit banknotes with a face value of approximately ₹7.40 crore at a Punjab National Bank (PNB) currency chest. The finding has led to significant scrutiny of the bank's cash handling procedures. The police announced that three bank officials and a housekeeper are facing legal action following this incident. According to PNB senior chief manager Nisha Singh, those suspended include Ravi Kumar Kase, the senior divisional manager, along with currency chest managers Sushil Sharma and Amit Kumar. The complaint was initiated by Arun Kumar Chaubey, a nodal officer at the bank. Saharanpur's Senior Superintendent of Police, Abhinandan Singh, disclosed that during a routine check by the bank's audit team, a significant quantity of 'low-quality and suspicious currency' was identified while verifying cash at the chest. The audit process, which is still ongoing, is expected to yield precise figures in due course. Initial investigations revealed that a lack of ₹4.3 lakh was detected while cash was being counted prior to its transfer to the bank's headquarters. This discrepancy was first reported to PNB's Meerut branch, prompting further inquiries. CCTV footage reviewed as part of the investigation revealed a part-time housekeeper, Vishal Kumar, allegedly removing currency from bundles. In a separate case, Kumar has been charged with theft. Following the detection of counterfeit currency amounting to around ₹7.40 crore, the bank initiated a comprehensive audit of the currency chest, uncovering further irregularities. The police have formed a Special Investigation Team to delve deeper into the circumstances surrounding the case. Meanwhile, a team from PNB's headquarters is thoroughly examining transactions and internal records in light of the incident.