The National Investigation Agency (NIA) has arrested a Punjab National Bank (PNB) official as part of its investigation into a significant counterfeit currency case in Uttar Pradesh. Investigators are currently examining whether ₹17.29 crore in fake notes discovered in a bank currency chest are linked to a broader network operating within the formal banking system. Senior NIA officials provided this update on Tuesday, highlighting the seriousness of the situation.
Key Arrest in Counterfeit Currency Case
The National Investigation Agency (NIA) has arrested Amit Kumar, the manager of the Jagadhri currency chest, on Monday. He is a primary suspect in a case involving counterfeit Indian currency discovered at a Punjab National Bank (PNB) facility in Saharanpur’s Sofia Market area.
Kumar was one of three PNB officials under investigation after the counterfeit notes were found. In anticipation of their potential flight to Nepal, police had issued lookout notices for the suspects.
NIA takes over investigation
The three PNB officials identified in the investigation are senior divisional manager Ravi Kumar Kanse, Sofia Market currency chest manager Sushil Kumar and Jagadhri currency chest manager Amit Kumar. The bank suspended all three after their alleged involvement surfaced during the initial inquiry. The NIA has now re-registered the case after taking over the investigation on September 3. The original FIR was registered at Sadar Bazar police station on August 29 under Section 178 of the Bharatiya Nyaya Sanhita.
The NIA said the case relates to a conspiracy involving counterfeit currency at the PNB currency chest and that its investigation is continuing to uncover the “complete conspiracy” and identify and arrest other accused.
The investigation has also been looking at the possibility that counterfeit notes may have been distributed from the currency chest to bank branches and ATMs before the irregularity was detected.
