Moradabad: A significant banking fraud has come to light in Moradabad, Uttar Pradesh, where more than ₹26.39 lakh was allegedly misappropriated through record manipulation at the Civil Lines branch of Punjab National Bank (PNB). The case involves allegations that the branch’s head cashier accepted cash deposits from customers and institutions, issued receipts, but failed to credit the amounts into the bank accounts, instead diverting the funds for personal use.
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Roadways Deposits Missing From Bank Statement
The issue surfaced after the Uttar Pradesh State Road Transport Corporation (Roadways), Moradabad depot, reported that its deposited funds were not reflecting in its bank accounts. Repeated complaints prompted the bank to initiate an internal audit, which eventually uncovered the discrepancy.
According to bank records, the Roadways depot deposited ₹18,18,716 on April 18, 2026, and ₹4,20,808 on April 29, 2026, in cash. However, despite having valid deposit receipts, the corresponding entries were missing from the bank’s April statement. This discrepancy triggered a detailed investigation into the branch’s cash handling records.
During the inquiry, it was found that head cashier Sani Bharti was on duty during the said transactions. He is accused of receiving cash from Roadways but failing to deposit it into the bank’s system, instead manipulating internal records to conceal the misappropriation.
Audit Reveals Cash Shortage and Record Manipulation
The investigation further revealed that although attempts were made later to update the system records, the physical cash was not found in the bank’s cash holdings. This confirmed a mismatch between recorded transactions and actual cash balance.
Internal audit also detected an additional shortage of ₹3,99,918 in the bank’s cash reserve, which investigators believe is also linked to the same employee. With this, the total alleged fraud amount has reached ₹26,39,442.
Bank management stated that during preliminary questioning, the accused reportedly admitted to the misappropriation. Following this, the branch manager filed a formal complaint at the Civil Lines police station, leading to the registration of a case against the accused cashier.
Police Examine Documents and Cash Trails
Police have launched a detailed investigation and seized relevant documents, including cash registers, deposit slips, and digital transaction records from the bank. Authorities are examining the flow of funds to determine where and how the misappropriated money was utilized.
Investigating agencies are also probing whether other employees were involved or if there was any internal collusion, as such a large-scale manipulation of cash records is considered unlikely without systemic support.
Police officials confirmed that the investigation is ongoing, and CCTV footage, transaction trails, and cash movement logs are being thoroughly analyzed. Authorities have assured that strict legal action will be taken against those found responsible once the investigation is complete.
