NIA Arrests Absconding Bank Official in Massive Rs 17.29 Crore PNB Fake Currency Case in Saharanpur
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The National Investigation Agency (NIA) has scored a major breakthrough in the high-profile Rs 17.29 crore counterfeit currency racket linked to the Punjab National Bank (PNB) currency chest in Saharanpur. The federal anti-terror agency arrested Amit Kumar, a bank official who had been evading law enforcement authorities since the massive financial fraud came to light. The case, initially registered at the Sadar Bazar police station on August 29, involves the alarming circulation and storage of fake Indian currency notes worth nearly Rs 17.29 crore inside a premier public sector bank's currency chest, triggering widespread concern across financial and security circles.
How the Multi-Crore Counterfeit Currency Racket Was Uncovered
The complex financial scandal unfolded when a consignment of Rs 111 crore was dispatched from the Saharanpur PNB currency chest to the Reserve Bank of India (RBI) in Jaipur on August 5. The shipment was intended to contain mutilated, torn, and defaced currency notes scheduled for formal destruction. However, upon manual and automated counting at the RBI facility, authorities discovered an initial shortage of Rs 430,900. Further deep-dive audits and forensic examinations revealed an astonishing cache of counterfeit notes amounting to Rs 74 million, a figure that subsequently skyrocketed to a staggering Rs 172.9 million (Rs 17.29 crore) as the investigation widened.
FIR Lodged Against PNB Senior Officials as NIA Takes Over Investigation
Following the shocking discovery, an administrative and criminal inquiry was launched, leading to the immediate suspension of three key bank officials: PNB Senior Divisional Manager Ravi Kumar Kanse, Currency Chest Manager Sushil Kumar, and accused official Amit Kumar—who had recently managed a transfer from Saharanpur to Jagadhri. A formal police complaint was lodged at the Sadar Bazar police station. Recognizing the gravity of the interstate financial subversion and potential terror-funding angles, the NIA officially took over the probe on September 3, executing raids and seizing control of the compromised currency chest for rigorous forensic analysis.
Hunt Continues for Remaining Absconding Officials as NIA Deepens Conspiracy Probe
With the successful arrest of Amit Kumar, federal investigators are turning their focus toward capturing the remaining two absconding bank officers, who have managed to evade custody. The NIA is interrogating the arrested official to unravel the entire underground network, trace the supply chain of the counterfeit notes, and expose external syndicates collaborating with institutional insiders. Security and banking regulators are closely monitoring the developments, anticipating further arrests in the coming days as the agency dismantles one of the most brazen bank-linked currency frauds in recent memory.
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