Saharanpur. Fake currency notes worth ₹7.40 crore have been detected during an audit of a currency chest operated by Punjab National Bank in Saharanpur, triggering a police investigation into how the notes entered the banking system. In a separate case linked to the same currency chest, cash sent to the bank’s headquarters was found to be short by ₹4.36 lakh.
The two matters have been registered as separate cases at Sadar Bazar police station on complaints submitted by the bank. The cases relate to the Punjab National Bank branch at Sophia Market.
In the fake currency case, the bank has named senior manager Ravi Kumar of the divisional office, currency chest manager Sushil Sharma and Amit Kumar, manager of the currency chest at Khera Bazar in Jagadhri, Haryana. In the separate cash shortage case, housekeeper Vishal Kumar has been named.
Police Trace Source of ₹7.40 Crore Fake Currency
The discovery of such a large quantity of counterfeit currency has raised questions about its source and the process through which the notes reached the currency chest. Cash is routinely received at currency chests from different bank branches, making the movement of cash a key part of the investigation.
Police are examining whether the ₹7.40 crore in counterfeit notes reached the currency chest in a single consignment or entered the system gradually through multiple deposits. Investigators have sought records from the bank showing when and how much cash was deposited by individual branches.
The records will be matched with details of the notes recovered during the audit. Police are attempting to identify the stage at which the counterfeit currency entered the banking chain and whether it came from one branch or multiple locations.
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Cash Handling Process Under Investigation
The investigation will also focus on the bank’s internal cash-handling procedures. Police are expected to examine records relating to counting, packaging, depositing and dispatching cash from the currency chest to headquarters.
Investigators will identify which employees were responsible for handling the cash at different stages and compare their duties with the relevant records. The movement of large cash consignments from individual branches to the currency chest will also be examined.
Police are preparing to collect CCTV footage from the concerned bank branches and currency chest. Recordings from dates on which large amounts of cash were deposited will be scrutinised to establish who brought the money to the currency chest.
The CCTV footage will be compared with bank cash records and deposit registers to determine which employees or other persons were involved in transporting the cash. Investigators expect the digital footage and documentary trail to help establish the movement of the suspected counterfeit currency.
₹4.36 Lakh Cash Shortage in Separate Case
The second case concerns a shortage of ₹4.36 lakh in cash sent from the currency chest to the bank’s headquarters. The discrepancy was detected during verification of the amount dispatched from the chest.
Following the discovery, the bank’s nodal officer filed a separate complaint against housekeeper Vishal Kumar at Sadar Bazar police station. Police will examine records related to cash storage, counting and dispatch to determine how the shortage occurred.
Investigators will also establish which employees were responsible for the cash at each stage and whether the shortage occurred during counting, storage or while the cash was being prepared for dispatch.
Two Cases Raise Serious Questions
The discovery of counterfeit currency worth crores of rupees in a single currency chest, along with a separate cash shortage involving lakhs of rupees, has raised serious concerns about the cash management and verification processes associated with the facility. However, the exact role of the individuals named in the FIRs will become clear only after the investigation.
Police are examining bank documents, cash records, deposit details and CCTV footage to reconstruct the complete sequence of events.
The city police said separate cases have been registered over the counterfeit notes and the cash shortage. Four people have been named in the two FIRs, and investigators are examining both matters independently while tracing the source of the suspected fake currency and the circumstances surrounding the missing cash.
