Over 4 Kg of Gold Stolen from PNB Branch in Rajasthan; Fake Jewellery Planted to Avoid Detection

Jhunjhunu (Rajasthan):A sensational case of criminal breach of trust has come to light at a Punjab National Bank (PNB) branch in Nawalgarh town of Jhunjhunu district, where more than 4.2 kilograms of gold jewellery, valued at approximately ₹6.5 crore, was allegedly stolen from the bank’s strong room. In an attempt to conceal the crime, the accused reportedly replaced genuine gold ornaments with fake jewellery, but were eventually exposed during an internal audit.

According to the police and bank officials, the theft involved gold ornaments pledged by customers against gold loans, stored in the strong room’s gold safe. Out of 76 packets of gold jewellery, 73 packets were found containing fake ornaments, while three packets showed a shortage in weight. A total of 4,198 grams of gold was found missing during verification.

Former Branch Manager Among Three Booked

Following a complaint filed by the current Senior Branch Manager, Mukesh Sihag, the Nawalgarh police registered an FIR against former Senior Branch Manager Amit Kumar, Banking Correspondent Santosh Kumar, and Deputy Manager Anant Prakash under charges including cheating and other serious offences.

Police Station House Officer Ajay Singh confirmed that an investigation has been initiated and further assessment will determine if more gold has been misappropriated.

Fraud Uncovered During Handover of Safe Custody

The fraud surfaced on January 28, 2026, when the charge of joint custody of the gold safe was being transferred to Deputy Manager Seema Mahla. During the routine inspection, discrepancies were noticed in the gold packets, prompting the bank management to launch an internal inquiry.

The gold safe, which operates with a dual-key system, was previously under the joint custody of former Branch Manager Amit Kumar and Deputy Manager Anant Prakash. Investigators revealed that Anant Prakash had allegedly handed over his key to Amit Kumar, violating established banking protocols.

CCTV Footage Exposes the Modus Operandi

A review of CCTV footage proved crucial in exposing the alleged conspiracy. Footage from January 21, 2026, reportedly shows the former branch manager and the banking correspondent leaving the bank premises with boxes containing jewellery. Further footage from January 22 captured tampering with the gold packets inside the strong room.

These visuals strengthened suspicions of systematic manipulation and large-scale embezzlement of pledged gold.

Probe Underway

Bank officials stated that the internal audit is ongoing, and the exact extent of the loss will be determined after a detailed investigation. Police are also examining the financial trail and possible involvement of additional individuals.

The incident has raised serious concerns over internal controls, accountability, and security mechanisms in public sector banks, particularly in handling high-value pledged assets.