Punjab National Bank (PNB), the third largest public sector lender, on Thursday said it had settled three claims amounting to Rs 43 lakh in connection with alleged financial irregularities involving savings accounts and fixed deposits at its Greater Noida branch.
The bank said it was examining the complaints on priority and verifying the facts to assess the extent of the reported discrepancies.
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“Three claims amounting to Rs 43 lakh had been settled as of yesterday. The Bank assures its customers that all genuine claims will be honoured,” PNB said in a statement.
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The development comes after nearly two dozen account holders alleged misappropriation of funds worth more than Rs 11.24 crore from their savings accounts and fixed deposits at the branch.
The bank assured customers that all genuine claims would be honoured and said it was extending full cooperation to the authorities concerned while taking necessary steps to address the concerns of affected customers.
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It reiterated its zero-tolerance policy towards fraud, financial irregularities and misconduct, adding that strict action would be taken against those found responsible in accordance with applicable rules and procedures.
“The bank remains committed to safeguarding customer interests, upholding the highest standards of operational integrity, and continually strengthening its internal controls and monitoring mechanisms to reinforce safeguards and prevent the recurrence of such incidents,” the statement said.
The development comes after nearly two dozen account holders alleged misappropriation of funds totalling more than Rs 11.24 crore from their savings accounts and fixed deposits at the branch.
An FIR has been registered against unidentified bank employees under Section 316(5) of the Bharatiya Nyaya Sanhita (BNS), which deals with criminal breach of trust. The case was filed following a complaint by customer Shrichand and other account holders
According to the complaint, the alleged losses reported by 21 individuals exceed Rs 11.24 crore. Separately, local account holders have pegged the total alleged fraud at around Rs 35 crore, claiming that savings accounts, fixed deposits and mutual fund investments were among the financial assets affected.
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