PNB Rs 35 Crore Fraud: Take These 5 Steps If Money Disappears From Your Bank Account

PNB Fraud: While there is no single way to prevent every banking fraud, customers can take steps to reduce the risk., says BankBazaar CEO.

29 Oct 2026, 09:03 · NDTV

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PNB fraud in Greater Noida caused Rs 35 crore loss to customers' accounts without their knowledge
Customers should immediately contact their bank to block cards or net banking after suspicious transactions
File a formal complaint with the bank and keep the reference number to support liability claims

How long do RBI Ombudsman fraud investigations usually take?

The alleged fraud involving Punjab National Bank (PNB) customers in Greater Noida, in which account holders lost around Rs 35 crore, has raised questions about how customers can protect their savings and what they can do when money disappears from their accounts without their knowledge.

For many families, a bank account holds years of savings. Discovering unauthorised withdrawals can be devastating, particularly when customers say they did not approve the transactions or sign the documents involved.

While there is no single way to prevent every banking fraud, customers can take steps to reduce the risk. Acting quickly after spotting an unauthorised transaction is equally important.

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Adhil Shetty, CEO of BankBazaar, told NDTV that customers must know how to respond when they discover a suspicious transaction. He outlines five steps they should follow to report the fraud and pursue a resolution.

1. Contact your bank immediately

The first step is to alert the bank as soon as you notice a transaction you do not recognise. Contact its official helpline, visit a branch or use its official banking app. Ask the bank to block the affected card, UPI facility or net banking access, wherever necessary, to prevent further unauthorised transactions.

If the fraud involves access to your account or changes to your banking credentials, ask the bank to secure the account as well. Do not wait to establish exactly how the fraud occurred before reporting it. The priority is to limit further losses.

2. File a formal complaint and keep the reference number

Informing the bank over the phone is not enough. File a formal complaint and retain the complaint reference number, transaction details and any written acknowledgement. The time taken to report an unauthorised transaction can affect the customer's liability.

Under Reserve Bank of India (RBI) rules, customers may have zero liability in specified circumstances, including certain third-party breaches reported within three working days of receiving communication from the bank about the transaction. However, zero liability is not automatic in every case. If the loss resulted from the customer's own negligence, such as sharing payment credentials, the customer may have to bear the loss until the fraud is reported. The applicable rules depend on the circumstances of the transaction. "While instances of money going missing are uncommon, knowing how to react to banking fraud is vital," Shetty says.

3. Report the fraud on the cybercrime helpline

If you suspect cyber or digital payment fraud, call the National Cyber Crime Helpline at 1930 immediately. You can also file a complaint through the government's National Cyber Crime Reporting Portal⁠. Keep your bank account details, transaction ID, date of the transaction, amount lost and relevant screenshots handy. These details can help authorities trace the transaction and alert the relevant financial institutions.

If you receive an acknowledgement after reporting the incident through the helpline, follow the instructions to complete the online complaint within the stipulated time. Reporting the incident promptly may help authorities and financial institutions act to prevent the money from moving further, although recovery is not guaranteed.

4. Preserve every piece of evidence

Keep copies of bank statements, SMS and email alerts, screenshots of unauthorised transactions, complaint acknowledgements and all communication with the bank. If you visited a branch, note the date and details of the discussion. If the bank replies in writing, preserve that response as well.

These records can help establish when the fraud occurred, when you reported it and what action the bank took. They will also be useful if you need to escalate the complaint to the RBI or the police. Shetty advises customers to document the entire process rather than rely only on verbal communication.

5. Escalate the complaint if the bank does not resolve it

If the bank does not respond within 30 days, or you are dissatisfied with its response, you can approach the RBI Ombudsman under the applicable grievance redress mechanism. Complaints can be filed through the RBI's Complaint Management System⁠Attachment.png. Customers must first approach their bank and meet the scheme's eligibility and time-limit requirements.

The RBI Ombudsman mechanism deals with eligible complaints involving deficiencies in services provided by regulated entities. It is not an automatic refund mechanism, and the outcome will depend on the facts of the case. Keep the original bank complaint, reference number, bank's response, transaction records and supporting documents ready when escalating the matter.

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