A Punjab National Bank currency chest manager, Amit Kumar, has been arrested by the NIA in connection with a ₹17.29 crore fake currency conspiracy in Uttar Pradesh. A Special NIA Court in Chandigarh has granted him transit remand to be moved to Lucknow for trial. The conspiracy came to light when a cash remittance to the RBI revealed a shortage, leading to an audit that uncovered a significant amount of counterfeit notes. The NIA is now leading the investigation into this large-scale financial crime.

A Punjab National Bank currency chest manager, Amit Kumar, has been arrested by the NIA in connection with a ₹17.29 crore fake currency conspiracy in Uttar Pradesh. A Special NIA Court in Chandigarh has granted him transit remand to be moved to Lucknow for trial. The conspiracy came to light when a cash remittance to the RBI revealed a shortage, leading to an audit that uncovered a significant amount of counterfeit notes. The NIA is now leading the investigation into this large-scale financial crime.

A Punjab National Bank currency chest manager, Amit Kumar, has been arrested by the NIA in connection with a ₹17.29 crore fake currency conspiracy in Uttar Pradesh. A Special NIA Court in Chandigarh has granted him transit remand to be moved to Lucknow for trial. The conspiracy came to light when a cash remittance to the RBI revealed a shortage, leading to an audit that uncovered a significant amount of counterfeit notes. The NIA is now leading the investigation into this large-scale financial crime.

A Special National Investigation Agency Court in Chandigarh has granted two days' transit remand to an accused currency chest manager in the alleged counterfeit currency conspiracy at a Punjab National Bank in Uttar Pradesh. 

The absconding Amit Kumar was one of the joint custodians and one of the three accused in the ₹17.29 crore fake Indian currency notes conspiracy at the PNB currency chest in Saharanpur. The NIA found him in Chandigarh and arrested him on September 7. The Special NIA Court in Chandigarh granted the team permission to transport him to Lucknow, where he will be tried in another court. 

The conspiracy came to light when a regular cash remittance of about ₹11.5 crore was sent from the Saharanpur chest to the Reserve Bank of India office in Jaipur. However, RBI officials noted that the cash fell short by ₹4.36 lakh, leading to a surprise audit. A 21-member joint team of RBI and PNB officials uncovered around ₹7.4 crore in fake ₹500 notes. As the audit proceeded, the total amount of suspected currency ballooned to over ₹17 crore. 

On August 29, a case was registered by PNB Meerut chief manager and nodal officer Arun Kumar Chaubey with the Saharanpur police station under section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023. The complainant mentioned the involvement of three employees from the bank. They were identified as PNB’s divisional officer Ravi Kumar Kansay, Sophia Market currency chest manager Suhil Kumar Sharma and Khera Bazaar currency chest manager Amit Kumar. 

While a Special Investigative Team formed by the UP police handled the case initially, the Centre transferred the investigation to the NIA on September 3.

As the investigation proceeded, CCTV footage showed part-time housekeeper Vishal Kumar removing notes from currency bundles while working inside the currency chest.

Media reports indicate that lookout notices were issued for the three accused, amid speculation that they plan to go to Nepal. However, no definitive connection to Nepal has been established. 

The three officials were suspended by the bank. The housekeeper was fired. An investigation is underway to uncover the complete conspiracy. 

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