₹17 Crore Fake Notes Found In PNB Currency Chest In Uttar Pradesh, Probe Underway
Summarized by AI; it may make mistakes. Check important info
Summarized by AI; it may make mistakes. Check important info
A major fake currency case involving around ₹17 crore in counterfeit notes has triggered a high-level investigation after the notes were found inside a currency chest of Punjab National Bank (PNB) in Uttar Pradesh. The discovery has raised questions over how such a huge volume of fake currency passed through the banking system despite multiple layers of cash counting and verification.
Investigation focuses on how fake notes entered the chest
Investigators are now tracing the movement of the cash deposited in the PNB currency chest. One of the key possibilities being examined is that the counterfeit notes may have entered through cash transfers from another bank branch rather than being deposited directly by customers.
Officials are checking branch-wise cash movement, deposit records and the details of employees assigned to verify and receive the money. Cash registers, verification records and other documents are also being examined to establish when and where the fake notes entered the system.
21-member team examines bank records
A 21-member investigation team has been formed to probe the case. The team is scrutinising bank records, currency chest and locker entry registers, cash accounts and other relevant documents.
Investigators are also examining the financial dealings of people suspected of being connected to the racket. The probe has expanded beyond Uttar Pradesh after investigators found indications that the network could have links with other states.
Teams have reportedly carried out raids at multiple locations in Haryana as part of the investigation.
Fake SIM card network under scanner
The investigation has also brought attention to a wider network involving illegally obtained SIM cards in eastern Uttar Pradesh.
According to reports, identity documents belonging to labourers and other unsuspecting individuals have allegedly been misused to obtain SIM cards. Such numbers are often used in cyber fraud, illegal calls and financial crimes.
Investigators are now examining whether the SIM card racket has any connection with the fake currency operation.
Banking system faces questions over ₹17 crore discovery
The discovery of counterfeit notes inside a bank currency chest has put the spotlight on the safeguards used to verify cash before it is stored and circulated. Currency received by banks normally goes through counting, machine-based sorting and verification by officials.
The investigation will now seek to determine how the fake notes bypassed these checks and whether any individuals deliberately helped move the counterfeit currency into the banking system.
