Punjab National Bank found counterfeit notes worth about Rs 74 million in a currency chest in Saharanpur, Uttar Pradesh, India. The discovery emerged after a Rs 436,000 cash shortfall was detected while reconciling money sent to the Reserve Bank of India on August 10 and 11. An audit team identified the fake notes during a regular verification process.

PNB chief manager Nisha Singh said the accounting discrepancy prompted an inquiry that uncovered broader irregularities involving notes held in the currency chest. A senior PNB official informed police. The bank said the counterfeit notes had not entered the market and had not been sent to any other bank branch.

Media reports said police filed an FIR against four bank officials and one other person, while a special investigation team has been formed. PNB suspended four officials and took disciplinary action against another employee. Separately, cleaner Vishal Kumar was accused in connection with the cash shortage. Police are examining transaction records and CCTV footage, treating the shortage and counterfeit-note case as two separate matters.