Rs 7.40 Crore Fake Notes Found: Rs 7.40 Crore Fake Currency Found During Bank Audit

Rs 7.40 Crore Fake Notes Found: A routine audit at a Punjab National Bank currency chest in Saharanpur, Uttar Pradesh, has uncovered fake currency with a face value of around Rs 7.40 crore. The discovery has triggered a police investigation and action against several bank employees.

The issue came to light after officials noticed a shortage of around Rs 4.30 lakh in cash sent from the currency chest to the bank’s headquarters. The discrepancy was reported to the PNB Meerut office, following which a nodal officer, Arun Kumar, visited the facility for an initial inquiry.

Investigators then checked the CCTV footage installed at the premises. According to the investigation, the footage showed part time housekeeper Vishal Kumar allegedly taking cash from bundles of notes.

The bank subsequently ordered a detailed audit of the currency chest. During the inspection, officials found several irregularities along with counterfeit notes valued at approximately Rs 7.40 crore.

The development led PNB to suspend senior divisional manager Ravi Kumar Kase and currency chest managers Sushil Sharma and Amit Kumar. Police have registered a case against the three officials and the housekeeper.

Authorities are now investigating how such a large quantity of fake currency reached the bank’s currency chest. They are also examining whether other individuals were involved in the suspected irregularities.

Saharanpur DIG Abhishek said a Special Investigation Team has been formed to conduct a detailed probe. The investigation will focus on the source of the counterfeit notes and the role of those associated with the currency chest.

The incident has also raised questions over the bank’s internal cash handling and verification procedures. Further details are expected to emerge as the SIT continues its investigation.