# CBI Investigates PNB Greater Noida Branch Fraud Case CBI files FIR against branch assistant and account holders for siphoning customer funds. - **Source:** [mint - companies](https://www.livemint.com/rss/companies) - **Published:** 2026-10-31 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/540adcf2-4646-49f4-9434-51ea0d746d88 ## CBI Files Formal FIR The Central Bureau of Investigation initiated a formal probe into a major fraud at the Punjab National Bank branch in Greater Noida. The Anti-Corruption Bureau in Ghaziabad registered an FIR following a written complaint submitted on 23 October by the Chief Manager of the bank's Noida Circle regarding significant financial irregularities. ## Named Accused in Fraud The investigation specifically names Deepanshi, a branch office assistant, and account holder Ashutosh Pathak as primary suspects. According to the bank's internal findings, Deepanshi confessed that the illicit transactions were executed under direct instructions from Pathak. The case also involves several unidentified public and private individuals currently under active investigation by authorities. ## Mechanism of Financial Theft The accused allegedly siphoned funds by misusing core banking solution user IDs belonging to various branch officials. By manipulating customer account details and altering fixed deposit receipts, they managed to divert money over a three-year period. The fraud was initially detected after a customer reported three suspicious debits on 16 September. ## Scale of Financial Loss PNB has identified unauthorized debits totaling approximately ₹10.24 crore from multiple customer accounts. While social media reports previously speculated a figure as high as ₹35 crore, the bank maintains its current estimate is significantly lower. The institution is currently reconciling records to determine the exact total extent of the financial damage. ## Internal Bank Response Punjab National Bank has suspended at least 12 employees in connection with the security breach. The bank is actively cooperating with the CBI while conducting its own internal audit. Management has already settled three specific claims amounting to ₹43 lakh and has publicly assured customers that all genuine claims will be addressed. ## Legal Provisions Invoked The FIR incorporates charges under the Bharatiya Nyaya Sanhita, the Prevention of Corruption Act, and the Information Technology Act. Allegations include criminal conspiracy, breach of trust, cheating, and falsification of accounts. These legal provisions reflect the severity of the misconduct involving both public servants and external parties in the banking system. ## Systemic Security Failures The investigation revealed that the fraud was facilitated by the unauthorized use of the branch manager’s password. System logs and user activity records confirmed that multiple illicit transactions were carried out over a substantial period. This highlights critical vulnerabilities in the internal control mechanisms and credential management protocols at the branch level. ## Impact on Banking Operations This case underscores the persistent risks associated with internal collusion in financial institutions. The ongoing reconciliation process remains vital for restoring customer trust and ensuring the integrity of the core banking system. Moving forward, the bank must implement stricter access controls to prevent future unauthorized manipulation of sensitive customer financial data. ## Sources covering this story - https://www.livemint.com/companies/news/greater-noida-pnb-fraud-case-cbi-names-deepanshi-ashutosh-pathak-what-are-they-accused-of-details-11793435486465.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._