A significant discrepancy in the currency chest made in the Punjab National Bank’s Pandu Nagar branch in Kanpur led to the suspension of four PNB employees.
Have you ever heard of rotten currency notes? But it has actually happened in Punjab National Bank, where Rs 42 lakhs were found wet due to water seeping into many boxes.
The notes were kept in an iron currency chest when they got drenched in water. However, three months ago during an audit, the matter of rotten currency came to light but the bank kept mum regarding this issue.
The main currency of the Punjab National Bank branch is in Pandunagar. According to the reports, the prescribed norms for keeping cash were not followed. About three months ago, water entered the box kept on the floor, and the notes kept at the bottom got rotten due to moisture.
Recently, when RBI inspected this chest, the notes were found to be rotten. Apart from this, moisture was found in some of the boxes that were opened. Since then the investigation was going on to know the actual number of rotten notes.
Although the bank initially estimated the amount to be between two and four lakhs, the final tally was 42 lakhs. There was a commotion when this was revealed, and the report was sent to the headquarters.
The chest was examined by the bank’s zonal audit and vigilance team. Bank reports claim that the employees were under pressure to pay Rs 42 lakh to resolve the issue. On refusal late Wednesday evening, senior manager of currency chest Devi Shankar, manager Asharam, chest officer Rakesh Kumar and senior manager Bhaskar Kumar Bhargava were suspended.