₹17 Crore PNB fake currency case: NIA arrests bank manager – how did the scam come to light?

The National Investigation Agency (NIA) arrested a bank manager who was absconding in connection with an alleged counterfeit currency conspiracy at a Punjab National Bank (PNB) currency chest in Saharanpur, Uttar Pradesh. The case centers on the recovery of fake Indian currency notes totaling over ₹17 crore from the vault. According to reports, the irregularities came to light after a shortage was flagged in cash sent from a local PNB branch to the Reserve Bank of India currency chest in Jaipur, triggering an internal audit.

During the audit that began in August, officials uncovered numerous bundles of fake ₹500 notes. Security footage allegedly revealed a part-time housekeeper tampering with cash bundles inside the currency chest. The local police initially registered a case against three individuals, and three PNB employees were suspended following the discovery. The Uttar Pradesh Police formed a special investigation team and expanded the probe into neighboring districts, Haryana, and Uttarakhand.

The federal counter-terror agency subsequently took over the investigation and re-registered the case. The arrested bank manager, who served as a joint custodian of the currency chest and was named in the initial FIR, was tracked down in Chandigarh and produced before a special court to secure transit remand to Lucknow for further questioning. Investigators are continuing to examine the larger conspiracy, including the procurement and circulation of the counterfeit money.

Not yet reported: The articles do not mention the final outcome of the court proceedings or the identities of all remaining suspects.