₹17.29 Crore Fake Currency in PNB Chest: The ₹111 Crore RBI Jaipur Trail Now Under Scanner
Saharanpur counterfeit currency scandal widens as investigators examine ₹111 crore consignment sent to RBI Jaipur
The counterfeit currency case at Punjab National Bank’s (PNB) currency chest in Saharanpur has taken a serious turn, with the reported value of fake notes rising from the initial ₹7.40 crore to ₹17.29 crore.
Now, investigators are also examining a ₹111 crore currency consignment sent from the PNB chest to RBI Jaipur through an SBI currency chest on July 6.
₹111 Crore Trail Under Scanner
The ₹111 crore consignment has not been declared counterfeit. However, its movement is being examined because it originated from the same currency chest at the centre of the investigation.
Investigators are reportedly checking the counting, bundling, packing, sealing and dispatch records and comparing them with the receiving records.
The consignment reportedly contained 1,900 bundles of ₹500 notes and 800 bundles of ₹200 notes.
Three PNB Officials Suspended
PNB has reportedly suspended three officials — Ravi Kumar Kanse, Sushil Sharma and Amit Kumar — as investigators examine possible procedural lapses.
A part-time housekeeping worker, Vishal Kumar, has also reportedly been removed from duty over his alleged involvement in currency-counting or bundling work.
This has raised a pointed question: who authorised non-core personnel to handle such sensitive cash operations?
The Big Questions
The investigation now goes beyond the discovery of fake notes.
Authorities are examining:
- How did ₹17.29 crore in suspected counterfeit currency reach the currency chest?
- Who counted and verified the cash?
- Were prescribed currency-authentication procedures followed?
- Who had access to the currency?
- Did the ₹111 crore dispatch records match the receiving records?
- Was the incident a procedural failure or something more?
Why the Case Matters
A currency chest is a critical link in India’s cash-distribution system. The reported presence of counterfeit currency worth crores inside such a facility therefore raises serious questions about verification, supervision and internal controls.
The SIT, NIA, RBI and PNB are examining the records, CCTV footage, cash movements and roles of the personnel involved.
For investigators, the key task is now to trace the origin of the suspected fake notes and reconstruct their movement through the banking system.
The ₹111 crore consignment may provide an important audit trail.
The bigger question remains: If counterfeit notes entered a currency chest, how far could they have travelled before being detected?
