E-Paper
NIA probes how ₹17.29-cr fake notes entered PNB chest, tracks ₹111-cr trail
The probe gained significance after the NIA arrested Amit Kumar, manager of PNB’s Jagadhri currency chest, on Monday. He is one of three PNB officials under investigation after counterfeit notes worth ₹17.29 crore were detected inside the bank’s currency chest in Saharanpur’s Sofia Market.
Prefer HTon Google
The trail of a ₹111-crore currency consignment sent from Saharanpur is emerging as a key lead in the National Investigation Agency’s (NIA) probe into the ₹17.29-crore suspected counterfeit currency haul. Investigators are examining how the fake notes entered a Punjab National Bank (PNB) currency chest and whether they travelled further through the formal banking network, senior NIA officials informed on Tuesday.
The probe gained significance after the NIA arrested Amit Kumar, manager of PNB’s Jagadhri currency chest, on Monday. He is one of three PNB officials under investigation after counterfeit notes worth ₹17.29 crore were detected inside the bank’s currency chest in Saharanpur’s Sofia Market.
The case diary prepared by Saharanpur police, along with evidence gathered by the Special Investigation Team (SIT) and crime branch, is expected to form the starting point for the agency’s investigation.
Bank records, financial transactions and electronic devices seized during searches are also likely to be examined to establish the wider network behind the alleged racket.
Investigators are reconstructing the movement of the ₹111-crore currency consignment sent from Saharanpur to the Reserve Bank of India’s Jaipur office on July 6. The consignment reportedly contained 1,900 bundles of ₹500 notes and 800 bundles of ₹200 notes.
Investigators are examining its packing, handling and dispatch to determine where the suspected counterfeit notes entered the currency chain. The consignment was reportedly entrusted to a part-time housekeeper, adding another element to the chain-of-custody examination.
The NIA is also expected to determine whether fake notes from the currency chest had reached bank branches or ATMs before the irregularity was detected and, if so, how much entered circulation.
The agency is likely to examine bank accounts linked to the accused and their associates, focusing on deposits, withdrawals and transfers that could indicate the movement of funds connected with the alleged operation.
Transactions disproportionate to the account holders’ known financial profiles could provide leads to possible financiers or intermediaries. Investigators are expected to match the financial records with statements and documentary evidence collected by the SIT and crime branch.
Besides Amit Kumar, the officials under investigation are senior divisional manager Ravi Kumar Kanse and Sofia Market currency chest manager Sushil Kumar. PNB suspended all three after their alleged involvement surfaced during the initial inquiry.
Police had issued lookout notices against them amid apprehension that they could flee to Nepal. The SIT and crime branch later searched their residences and seized electronic devices and documents.
The NIA is expected to examine the devices for communications and contacts that could establish links beyond the bank and Saharanpur.
An NIA official said the agency’s immediate task is to establish the source of the counterfeit notes, their entry into the PNB currency chest and the extent to which they may have travelled through the banking network.
The NIA took over and re-registered the case on September 3 after an FIR was lodged at Saharanpur’s Sadar Bazar police station on August 29 under Section 178 of the Bharatiya Nyaya Sanhita (BNS).
