₹17 Crore PNB Fake Currency Case: NIA Arrests Bank Manager How Did The Scam Come To Light?

(MENAFN- Live Mint) The National Investigation Agency (NIA) has arrested an absconding accused a bank manager in connection with the alleged counterfeit currency conspiracy at the Punjab National Bank (PNB) currency chest in Saharanpur, Uttar Pradesh.

The accused, Amit Kumar was named in the FIR related to the case.

Kumar was arrested in Chandigarh on September 7, according to the NIA as reporte dby news agencies. He was subsequently produced before a Special NIA Court in Chandigarh, which granted two days' transit remand to enable his production before the Special NIA Court in Luckno.

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“The National Investigation Agency (NIA) has arrested an absconding accused, Amit Kumar, a bank employee and a key FIR-named accused in the conspiracy relating to counterfeit currency notes at the Punjab National Bank currency chest, Saharanpur, UP, in case RC-02/2026/NIA/LKW,” reads an official statement by NIA.

What is the case about?

The case relates to the recovery of counterfeit Indian currency notes worth ₹17.29 crore from the PNB currency chest in Saharanpur on August 29, 2026.

A case was initially registered on August 29 at Sadar Bazar Police Station in Saharanpur under Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023, against three accused persons.

During the initial inquiry, the involvement of three PNB employees also surfaced who were later suspended by the bank. The case was subsequently taken over by the NIA and re-registered on September 3, 2026.

The investigation agency is probing the larger conspiracy, including the source, procurement and movement of the counterfeit currency and the alleged roles of other persons involved.

Amit Kumar, who was serving as a PNB manager and was a joint custodian of the currency chest at the relevant time, is among the three bank employees named in the FIR.

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The NIA has said that its investigation is continuing to unravel the complete conspiracy and trace and arrest the remaining accused persons.

Earlier this month, the Uttar Pradesh Police had constituted a special investigation team (SIT) to probe into the alleged circulation and storage of counterfeit currency. Subsequently, the police widened the investigation to neighbouring districts, as well as Haryana and Uttarakhand.

How was the case unearthed?

The irregularity was detected after a shortage was noted in currency sent from the PNB branch at Ghantaghar in Saharanpur to the RBI currency chest in Jaipur, prompting a probe.

During the subsequent audit, which began on 9 August, officials found 148 bundles of counterfeit currency, each containing a thousand ₹500 notes. The initial value of the fake notes was calculated at ₹7.40 crore.

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As the currency audit continued, the amount of counterfeit currency detected increased to around ₹17 crore. CCTV footage showed part-time housekeeper Vishal Kumar removing notes from currency bundles while working inside the currency chest.

(With NIA inputs)

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