A significant banking fraud has emerged in Uttar Pradesh involving Punjab National Bank officials who allegedly extracted Rs 7.4 crore in legitimate currency from secure vaults and substituted it with counterfeit notes. The scheme unraveled when a cash discrepancy of Rs 4.36 lakh designated for Reserve Bank of India deposit prompted investigators to conduct a thorough audit. Three bank personnel have been identified as primary suspects in this large-scale currency manipulation case, raising serious concerns about internal security protocols and oversight mechanisms within Indian banking institutions.

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