NIA arrests PNB employee in Saharanpur counterfeit currency case

The National Investigation Agency (NIA) has arrested Amit Kumar, a Punjab National Bank (PNB) employee and key accused in a conspiracy involving counterfeit currency notes. The arrest follows the discovery of fake Indian currency notes with a face value of 17.29 crore rupees at a PNB currency chest in Saharanpur, Uttar Pradesh. According to official statements, the case was initially registered on August 29, 2026, at the Sadar Bazar police station under section 178 of the Bharatiya Nyaya Sanhita before being re-registered by the NIA on September 3.

Three PNB officials are under investigation: Amit Kumar, who is identified as the manager of the Jagadhri currency chest; Sushil Kumar, the Sofia Market currency chest manager; and Ravi Kumar Kanse, a senior divisional manager. All three employees were suspended by the bank after their alleged involvement surfaced during an initial inquiry. Investigators are currently working to uncover the full conspiracy and arrest other co-accused persons.

Reports from a center-right source provide additional details regarding the investigation, noting that a 21-member joint team from the RBI and PNB is tracing the cash trail. This source highlights concerns that the counterfeit notes were found within a formal banking system rather than a hideout, raising questions about whether the notes entered circulation through ATMs or bank branches. Additionally, investigators are examining a possible link to Nepal and reconstructing the movement of currency, including a 111 crore rupee consignment sent to the RBI Jaipur office on July 6.