Greater Noida, November 4, 2026: The Central Bureau of Investigation (CBI) has arrested two people, including a Punjab National Bank (PNB) employee, in connection with an alleged ₹10.24 crore fraud involving unauthorised transactions from customer accounts at the bank’s Sector Pi-1 branch in Greater Noida, Uttar Pradesh.
The arrests were made on November 3 after an internal bank investigation uncovered suspected financial irregularities spanning nearly three years.
CBI Arrests Bank Employee and Private Individual
The arrested individuals have been identified as Deepanshi Sharma, an office assistant at the PNB branch, and Ashutosh Kumar Pathak, a private individual.
According to investigators, Deepanshi allegedly carried out unauthorised debit transactions from multiple customer accounts in collaboration with Pathak and other unidentified individuals.
The CBI has obtained transit remand for Pathak from a special CBI court in Pune, Maharashtra.
₹10.24 Crore Allegedly Diverted From Customer Accounts
The case involves suspected unauthorised withdrawals and transfers totalling approximately ₹10.24 crore.
The bank’s preliminary investigation found that funds had allegedly been diverted from customers’ savings accounts and fixed deposits.
Earlier complaints from account holders suggested that nearly ₹35 crore could be missing. However, ₹10.24 crore is the amount identified in the bank’s preliminary assessment and forms the basis of the CBI investigation.
Employee Allegedly Misused Bank Officials’ Login Credentials
Investigators suspect that the accused employee misused login credentials belonging to other bank officials to conduct unauthorised transactions.
The bank’s internal inquiry reportedly found that she had accessed customer accounts using the user IDs of several colleagues.
These transactions allegedly continued for nearly three years without being detected.
Customer Transaction Alerts Allegedly Disabled
The investigation also revealed allegations that mobile transaction alerts had been disabled for certain customer accounts.
This allegedly prevented account holders from receiving immediate notifications about unauthorised withdrawals.
Investigators are examining whether these changes were deliberately made to conceal the suspected diversion of funds.
Fixed Deposit Accounts Also Affected
According to the bank’s complaint, some fixed deposit accounts were allegedly manipulated to facilitate unauthorised transfers.
Investigators suspect that Pathak and other individuals were added as joint account holders to certain fixed deposits.
The CBI is examining transaction records and beneficiary accounts to determine how the money was transferred.
Fraud Came to Light After Customer Complaint
The alleged irregularities surfaced in September after a customer visited the bank and noticed suspicious debit transactions.
The customer reported the transactions to branch officials, prompting an internal examination.
The inquiry subsequently identified multiple suspicious transactions involving different customer accounts.
Farmers Among Affected Customers
Several affected account holders are reportedly farmers and residents who had received compensation for land acquired for the Noida International Airport project at Jewar.
Some customers alleged that substantial portions of their savings and fixed deposits had disappeared.
The complaints triggered protests outside the PNB branch, with customers demanding explanations and recovery of their money.
CBI Registers Case Under Criminal Laws
The CBI registered the case on October 29, 2026, following a complaint from Punjab National Bank.
The FIR includes allegations involving criminal conspiracy, cheating, criminal breach of trust and falsification of accounts.
Investigators are also examining possible violations of anti-corruption and information technology laws.
The allegations have not yet been established by a court.
Investigation Continues Into Missing Funds
The CBI is tracing the movement of the allegedly diverted money and examining the involvement of other suspected individuals.
Investigators are reviewing bank records, transaction histories and account-access details to establish the full extent of the alleged fraud.
The case has raised concerns about internal banking controls, customer account security and the misuse of employee access credentials.
Source: The Indian Express, Hindustan Times, ThePrint, Moneycontrol, CBI Statements
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