'Distinct cash shortfall': Rs 7.4 crore in PNB vault swapped with fake notes in UP

The case was registered at Sadar police station based on a complaint filed by PNB nodal officer Arun Kumar Chaube (Image used for representational purpose)

SAHARANPUR: Real currency notes worth Rs 7.4 crore were replaced with fake ones at a Punjab National Bank (PNB) money vault in Saharanpur, Uttar Pradesh.Police have registered an FIR against bank officials and private individuals, and a Special Investigation Team (SIT) has been formed to probe the improbable heist.The case was registered at Sadar police station based on a complaint filed by PNB nodal officer Arun Kumar Chaubey. The FIR names senior divisional manager Ravi Kumar, currency chest managers Sushil Sharma and Amit Kumar as primary suspects.In a parallel development, a separate report was filed against a housekeeper, Vishal Kumar, regarding a “distinct cash shortfall” at the bank.According to PNB chief deputy manager Nisha Singh, the fraud began unravelling when a cash remittance dispatched to the

Reserve Bank of India

(RBI) on Aug 10 revealed a shortage of ₹4.36 lakh. A detailed audit ordered by RBI uncovered the startling influx of counterfeit notes.“An inquiry is in progress, and once we have complete details and evidence against everyone involved, the findings will be made public. The final tally of fake currency is still being verified as counting continues,” said Singh.Saharanpur DIG Abhishek said, “An SIT has been constituted and an FIR filed against those allegedly involved. Counting is in progress. Following a detailed inquiry, the embezzled currency will be recovered,” he said.Investigators are currently scrutinising bank transaction records, audit ledgers and CCTV footage from the currency chest to trace how the counterfeit bills were smuggled in and pinpoint all individuals involved in the operation.