PNB New Update: PNB has said that transactions have not been done from current and savings accounts for two years. They will be considered inactive. Such account holders will have to get KYC done again to activate the account on or before 26.03.2025.
PNB Account Holders Alert: If you also have an account in the country’s largest government bank Punjab National Bank (PNB), then there is an important news for you. The bank said that there are many such accounts in which there has been no transaction for the last 3 years. All such accounts will be closed by the bank after March 26. If you want your bank account to remain active, then for this you have to get your KYC updated by March 26, 2025.
Such accounts will be closed
Punjab National Bank (PNB) said in a release that there are many such accounts in the bank in which there has been no customer transaction for the last 3 years and there is no balance in these accounts. To prevent misuse of these accounts and other inherent risks, the bank has decided to close such accounts.
These customers will have to get KYC done
Therefore, the account holders of such accounts, in which there has been no customer induced transaction for more than 3 years till 31.12.2024 and in which there is no balance or zero balance, are given notice to get their accounts activated by submitting new KYC documents in the respective branches. If this is not done, such accounts will be closed after one month without any prior notice.
Make sure to do this by March 26
PNB has requested all its account holders to reactivate such accounts by submitting KYC documents in their bank account on or before 26.03.2025, so that they can avail seamless banking services with the bank. If these accounts are not activated, they can be closed after 26.03.2025 without any prior notice.
How will KYC be updated
To get KYC updated, bank customers can get their KYC done in person by visiting the nearest branch. In such a case, they will need important documents giving information about identity proof, address proof, latest photo, PAN card, income source etc., take them along. Apart from this, if you want, you can also do this by sending PNB One, Internet Banking Services (IBS), registered email/post.
What are Dormant/Inoperative Accounts?
When no transaction is done from an account for 12 consecutive months, it is considered an inactive account. But when no transaction is done from the account for 24 consecutive months i.e. two years, it is put in the category of Dormant Account. You can neither withdraw money from a dormant account nor deposit it in it. To get it activated, you have to go to the bank.
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