The Central Bureau of Investigation (CBI) has arrested a Punjab National Bank (PNB) office assistant and a private individual in connection with an alleged fraud involving unauthorised withdrawals of Rs 10.24 crore from customer accounts at the bank's Sector Pi branch in Greater Noida, Uttar Pradesh. The arrested staff member was named as Ms Deepanshi, an office assistant, and the private individual as Ashutosh Kumar Pathak. The arrests were made on Tuesday, November 3, as part of the ongoing investigation, IANS reported.

Source: IANS via hi INDiA

The CBI registered the case on October 29, 2026, following a complaint alleging that funds were siphoned off through unauthorised debit transactions carried out from multiple customer accounts. The first information report names the two arrested persons and unknown public and private persons, under provisions relating to criminal conspiracy, breach of trust, cheating and falsification of accounts, and under the Bharatiya Nyaya Sanhita, the Prevention of Corruption Act and the Information Technology Act, the agency said.

Source: IANS via hi INDiA

How the alleged fraud worked, according to investigators

According to the CBI's preliminary findings, the accused office assistant allegedly misused login credentials belonging to other bank officials to execute fraudulent transactions, manipulate customer account details and alter fixed deposit records, routing the diverted funds through multiple beneficiary accounts. PNB's internal inquiry and system-log review identified unauthorised debits of Rs 10.24 crore across multiple savings and fixed deposit accounts, which the bank says were siphoned off over about three years. A branch reconciliation is still under way to determine the precise extent of customer losses.

Source: Nation Press

A review of about a month of security camera footage showed the prime accused repeatedly accessing workstations left unattended by colleagues, according to banking-industry reporting on the case. Records shared with investigators show that 49 fixed deposits were closed prematurely after unauthorised modifications, and that the names of Ashutosh Kumar Pathak and other unidentified individuals were added as joint account holders on existing fixed deposits. These are allegations under investigation and have not been proved in court.

Source: HelloBanker

Transit remand from Pune; bank begins refunds

The CBI said it has obtained transit remand for the private accused, Pathak, from the Special Court for CBI Cases in Pune, Maharashtra, where he was apprehended. Both accused are expected to be produced before the designated CBI court as the investigation progresses, and the agency says it is tracing the flow of the diverted funds and working to identify other individuals who may be involved.

Source: CBI statement via TezzBuzz

In the latest update, PNB has so far returned Rs 7.80 crore to 16 affected account holders following an initial verification. Sector Beta-2 police confirmed that the refund process is under way, with 42 remaining claims under active scrutiny out of a total of 58 claims received by the bank. The case first surfaced in September, when an account holder questioned debit transactions in her account and approached the branch head, after which the bank examined account activity and filed its complaint.

Source: HelloBanker