NIA arrests PNB manager in Rs 17.29 crore fake currency case

The National Investigation Agency (NIA) has arrested Amit Kumar, a former Punjab National Bank (PNB) manager, in connection with a major counterfeit currency conspiracy. Kumar, who was serving as a joint custodian of a currency chest in Saharanpur, Uttar Pradesh, had been absconding since the case was initiated.

The investigation follows the recovery of counterfeit Indian currency notes with a face value of Rs 17.29 crore from the PNB currency chest on August 29, 2026. The incident led to the suspension of three bank employees. The NIA re-registered the case on September 3, 2026, to probe a larger organized conspiracy involving the procurement and movement of the fake notes.

Authorities are currently working to unravel the network, identify the source of the counterfeit money, and determine the involvement of other individuals. The NIA is also reviewing banking transactions, CCTV footage, and suspicious accounts to trace the flow of funds.