Punjab National Bank branch faces probe over alleged fraud
pre-market2 sources ↓machine-written, see hownot a recommendation
- PNB close
- ₹120.31
- On the day
- -0.79%
- Futures OI, short build-up
- +0.0%
- Put-call ratio
- 0.75
- Max pain
- ₹120.00
A branch of Punjab National Bank in Greater Noida came under scrutiny after at least 16 customers alleged that fixed deposits and savings balances worth nearly ₹35 crore were diverted without authorisation. The complaints were filed at the Beta-2 police station, while the bank suspended five employees, including the Aichhar branch manager, and began an internal investigation. The branch remained closed as affected account holders gathered outside seeking reimbursement.
Customers alleged that staff prematurely closed fixed deposits, transferred funds to other accounts, and recorded incorrect entries in passbooks. Some also claimed that withdrawals were made without their approval and that they did not receive transaction alerts. Reported individual losses ranged from ₹10 lakh to ₹1.2 crore. One customer said an account that previously held around ₹87-88 lakh showed a balance of only ₹1 lakh, highlighting the potential scale of the disputed transactions. The bank has assured authorities that it will address the complaints. 🏦
The immediate issue for the banking sector is the investigation’s findings on employee access, customer authentication and the bank’s process for protecting fixed deposits. A confirmed operational lapse could increase scrutiny of branch-level controls and customer grievance handling, although the allegations remain under examination and no final liability has been established.
OI Charts data showed the stock at ₹120.31 on 28 Oct 2026, down 0.8% for the session, on volume of 8,382,686 shares. It had still gained 3.5% over five sessions and 2.7% over 20 sessions, while its 52-week range stood at ₹98.50 to ₹135.15. In derivatives, futures open interest was 272,960,000 shares and the positioning was classified as short build-up, with the futures premium at 0.79%. The options put-call ratio was 0.75, with max pain at ₹120.00. The largest put open interest was at ₹120, while the largest call open interest was at ₹125 for the 23 Nov 2026 expiry.
Investors will watch the police investigation, the bank’s internal probe, customer reimbursements and any disclosure on the financial impact. The ₹120 options level and ₹125 call open-interest concentration provide the immediate derivatives reference points, while further complaints or official findings could shape sentiment toward banking controls. ⚖️
Source: The Times of India and Economic Times, 28 Oct 2026
Not investment advice. For informational purposes only.