PNB settles ₹43 lakh in fraud claims from Greater Noida branch

Punjab National Bank (PNB) has confirmed the settlement of three customer claims amounting to ₹43 lakh in connection with alleged financial irregularities at its Greater Noida branch. The bank disclosed the development in a statement issued a day after the complaints came to light, signalling its commitment to addressing the concerns of affected depositors.

The irregularities reportedly involve fixed deposits and savings bank accounts at the branch. PNB said it has initiated a priority examination of the matter and is extending full cooperation to relevant authorities. The bank stated it is undertaking necessary verification steps to assess the extent of the reported discrepancies and address customer grievances.

In its statement, PNB assured customers that all genuine claims arising from the incident would be honoured. The bank reiterated its adherence to a zero-tolerance policy towards fraud, financial irregularities and misconduct, indicating that appropriate action would be taken against those responsible for any violations.

The development comes as customers at the branch raised concerns about unexplained transactions and irregularities in their accounts. PNB's swift response to settle claims demonstrates the lender's focus on customer protection, though questions remain about the full scope of the irregularities and their root cause.