PNB Gold Loan Scam: What Happens if Pledged Gold is Lost? Bank Assures Compensation

• A multi-crore gold loan scam was unearthed at the Nansa Gate PNB branch in Jhunjhunu district, Rajasthan, involving misappropriation of gold worth approximately 6.5 crore rupees.
• Hundreds of customers found their pledged jewelry missing and illegal loans taken out in their names without their knowledge.
• PNB Regional AGM Sudhir Kumar Sahu assured that honest account holders will not suffer financial loss; full value will be paid if gold is not recovered, or recovered gold will be returned after verification.
• A special counter has been set up at the branch to address customer doubts, and a deep investigation is underway into the fraudulent loans and potential staff involvement.
• New gold loan issuance at Nansa Gate branch is suspended, but services continue at the Navalgarh branch; customers are advised to deal directly with bank officials.