New Delhi, Sep 8 — The National Investigation Agency (NIA) has arrested Amit Kumar, a bank employee and key accused who was absconding in connection with a major counterfeit currency conspiracy at the Punjab National Bank (PNB) currency chest in Uttar Pradesh's Saharanpur.
Amit Kumar is a named accused in the First Information Report (FIR) and was taken into custody in the case.
His arrest marks a significant development in the ongoing probe into the large-scale recovery of fake Indian currency notes, the premier investigation agency said.
The case originated on August 29, 2026, when police at Sadar Bazar police station in Saharanpur district received credible information about the presence of counterfeit notes inside the PNB currency chest.
Subsequent checks led to the recovery of fake currency with a total face value of Rs 17.29 crore.
Preliminary inquiry also revealed the involvement of three bank employees, all of whom were suspended by the bank authorities, the NIA said in a press statement.
An FIR was registered on the same day at Sadar Bazar police station under Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023, against the three accused persons.
"Given the seriousness of the offence and the quantum of counterfeit currency involved, the NIA re-registered the case on September 3, 2026, and took over the investigation," the central agency said.
NIA officials said that Amit Kumar had been absconding after the registration of the case. His arrest is expected to help investigators piece together the larger conspiracy behind the circulation and storage of high-value fake notes within a bank's currency chest — a sensitive facility meant for the secure handling of genuine currency.
The central agency has said that the investigation remains active.
Efforts are continuing to identify and arrest other co-accused persons and to fully unravel the network involved in the counterfeit currency operation.
Further details about the modus operandi and the roles of the accused are expected to emerge as the probe progresses.