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The Ludhiana police have booked two employees of HDFC Bank’s Gill branch for allegedly siphoning off a customer’s fixed deposit (FD) worth ₹9.5 lakh without her knowledge or authorisation.
Following a preliminary investigation, the police registered an FIR against Branch Manager Prabhjit Singh and employee Sannit Dhir on charges of fraud and criminal breach of trust.
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Customer Discovered Funds Missing
The complainant, Anita Rani, a resident of Ishar Nagar, stated that she had opened two FDs at the Gill branch — one worth ₹6.5 lakh and another for ₹3 lakh.
Earlier this year, when she attempted to withdraw the deposits, she discovered that the money had already been withdrawn.
Repeated attempts to obtain an explanation from the bank reportedly yielded no satisfactory response.
Investigation Confirms Allegations
According to the Station House Officer (SHO) of Sadar police station, the investigation team verified the claim through transaction records and internal bank documentation.
“Evidence suggests that the FD amount was withdrawn without the customer’s consent. Further inquiry into the bank’s internal systems and digital logs is under way,” the SHO said.
Questions Over Internal Controls
The incident raises serious concerns over internal control mechanisms and customer protection practices within India’s banking system.
Financial analysts note that even as banks adopt advanced digital safeguards, insider-led fraud remains a persistent vulnerability.
Former RBI official K.K. Jain remarked,
“Under RBI’s Master Directions, banks are required to ensure two-step authentication and real-time alerts for every FD or NEFT/RTGS transaction. Failure to do so constitutes a compliance lapse at the institutional level.”
Regulatory and Institutional Accountability
Instances of unauthorised withdrawals involving internal staff have been reported with increasing frequency. Experts stress that beyond criminal prosecution, institutional accountability and systemic transparency are essential to preserve public confidence in the banking sector.
Bank Response Awaited
HDFC Bank has not yet issued an official statement regarding the case. Police said further action would follow once forensic analysis of the bank’s digital transaction data and internal audit records is complete.
