NEW DELHI, Oct. 29 -- Punjab National Bank (PNB) has settled three claims totalling Rs.43 lakh after customers reported alleged unauthorized transactions involving savings accounts and fixed deposits at its Aichhar branch in Greater Noida, even as complaints over more than Rs.12 crore in suspected fraudulent transfers are being investigated.

In a statement on Thursday, the bank said it was examining the matter on priority and that all genuine claims would be honoured. The Rs.43 lakh in settlements relates to three claims as of Wednesday and does not represent the total amount allegedly involved in the case.

PNB said it was cooperating with the authorities and taking steps to verify facts, assess the extent of the reported discrepancies,...