₹17.29 crore fake currency in PNB: How did counterfeit notes reach a bank’s cash chest?

What happens when counterfeit currency is allegedly found not on the streets, but inside a bank’s currency chest? That is the question at the centre of a National Investigation Agency (NIA) probe in Uttar Pradesh’s Saharanpur, where authorities reported the recovery of fake Indian currency notes with a face value of ₹17.29 crore.

The investigation has now widened with two fresh arrests. According to the NIA, the suspected conspiracy involved the illegal printing and supply of counterfeit notes that allegedly passed through several individuals before reaching the Punjab National Bank (PNB) facility. Investigators are trying to establish how the operation worked and who else may have been involved.

Who are the two accused arrested by the NIA?

The NIA arrested Ajay Kumar in Ambala, Haryana, on October 16 and Harish Rounta in Manali, Himachal Pradesh, on October 22. In its latest announcement, the agency described the two as key conspirators allegedly involved in printing and supplying large quantities of counterfeit Indian currency.

The agency said both men were close associates of Adesh Choudhary and other accused already arrested in the case. Their alleged roles are being examined as investigators attempt to trace the network through which the notes reached the bank’s currency chest.

The arrests bring the reported total in the case to seven, following five earlier arrests.

How were ₹17.29 crore in fake notes found in PNB’s Saharanpur chest?

The case surfaced on August 29, 2026, when Sadar Bazar police in Saharanpur received information about counterfeit Indian currency notes with a face value of ₹17.29 crore in PNB’s currency chest at its Civil Lines branch.

A currency chest is a facility used by banks to store and manage cash for distribution and other banking operations. The discovery of counterfeit notes in such a facility raised questions about how the notes allegedly entered the system.

The initial inquiry also pointed to the alleged involvement of three PNB employees, who were subsequently suspended by the bank, according to the NIA. The agency has not established guilt through a court verdict, and the allegations remain under investigation.

Who else has been arrested in the counterfeit currency case?

The case was initially registered at Sadar Bazar police station on August 29 under Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023. The NIA took over and registered it as RC-02/2026/NIA/LKW on September 3.

The agency arrested Amit Kumar on September 7, followed by Adesh Choudhary on September 15. Mukesh Kumar was arrested on September 20, while Rajender and Nitu were arrested on September 22.

What is the NIA investigating next?

The central agency says its investigation is continuing to uncover the full conspiracy and identify the remaining accused and suspects. Key questions include how the counterfeit notes were allegedly produced, how they were transported and who facilitated their placement in the PNB currency chest.

The latest arrests mark another step in the investigation, but they do not close the case. Establishing the alleged roles of each accused and tracing the complete supply chain remain central to the probe.

(With inputs from ANI)