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Crime
₹17 crore counterfeit notes seized from Punjab National Bank chest, SIT formed
✍️ Hindustan Times
🗓 02 Sep 2026, 11:41 AM
👁 2
A Special Investigation Team has been set up after ₹17 crore worth of counterfeit currency was discovered in a Punjab National Bank chest, prompting the suspension of three bank officials.
Punjab National Bank officials uncovered counterfeit currency valued at approximately ₹17 crore hidden inside a bank chest during a routine check. The seized notes are believed to be part of a larger illegal printing operation.
Following the discovery, the bank placed three of its employees on suspension pending a preliminary inquiry that flagged their possible involvement in the incident. The suspensions were announced as part of the bank's internal security protocol.
The Ministry of Finance has now constituted a Special Investigation Team (SIT) to probe the source, distribution network and any collusion behind the fake notes. The SIT will coordinate with law‑enforcement agencies to trace the origin of the currency and identify any criminal syndicates.
Authorities have warned that any persons found complicit in the counterfeit scheme will face stringent legal action under the Indian Penal Code and the Counterfeit Currency Act.
Following the discovery, the bank placed three of its employees on suspension pending a preliminary inquiry that flagged their possible involvement in the incident. The suspensions were announced as part of the bank's internal security protocol.
The Ministry of Finance has now constituted a Special Investigation Team (SIT) to probe the source, distribution network and any collusion behind the fake notes. The SIT will coordinate with law‑enforcement agencies to trace the origin of the currency and identify any criminal syndicates.
Authorities have warned that any persons found complicit in the counterfeit scheme will face stringent legal action under the Indian Penal Code and the Counterfeit Currency Act.