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.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
“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.
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.
ALSO READ: Punjab National Bank Customers Allege Rs 35 Crore Fraud, Several PSB Employees Suspended
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.
ALSO READ: The $2.54 Billion Question: Who Pays When A Crypto Exchange Gets Hacked?
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.