CBI REGISTERS A CASE AGAINST BRANCH MANAGER OF PUNJAB NATIONAL BANK & OTHERS FOR ALLEGED VIOLATION OF RBI GUIDELINES

Press Release
New Delhi, 08.04.2017

      The Central Bureau of Investigation has registered a case against Branch Manager & Assistant Manager, both of Sadhopur Ki Jhal Branch, Punjab National Bank, Dadri, Gautam Budh Nagar (Uttar Pradesh); a Proprietor of Ghaziabad based private firm and other unknown persons U/s 120-B, 420, 468, 471 of IPC and Section 13(2) r/w 13(1)(d) of Prevention of Corruption Act, 1988.

       It was alleged that the Branch Manager (Scale-II) and Assistant Manager (Scale-I), both working in Punjab National Bank, Sadhopur Ki Jhal Branch, Dadri, Gautam Budh Nagar (Uttar Pradesh) entered into criminal conspiracy and in pursuance thereof, a current account was opened in favour of one Proprietor of Ghaziabad based private firm on the basis of forged & bogus documents. It was further alleged that post demonetization, in contravention of the guidelines dated 8.11.2016 issued by the Reserve Bank of India, the public servants in collusion with other unknown persons facilitated the deposit of a sum of around Rs.2,13,40,000/- (invalid specified bank notes – withdrawn bank notes in the denominations of Rs.500/- and Rs.1000/-) in the Current Account opened in the name of said Proprietor on different dates between 11.11.2016 to 29.11.2016. It was also alleged that the public servants deliberately omitted to collect the identity proof of the depositors (as mandated by Reserve Bank of India) and thereby facilitated these depositors to conceal their identity & dishonestly allowed the deposit of invalid specified bank notes to the tune of Rs.2,13,40,000/- (approx) in contravention of the guidelines issued by RBI and thus cheated the Government of India by depositing the invalid Specified Bank Notes.

           Further investigation is continuing.


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