Punjab National Bank (PNB): If you hold an account with Punjab National Bank, this information is pertinent to you. PNB has issued a notification for its customers, stating that account holders must complete their KYC update by March 31.
Bank may take action on accounts that have not undergone the update
Should they fail to do so, they will need to visit the nearest branch by April 10 to fulfill this requirement. If the update is not completed, the bank may take action on accounts that have not undergone the KYC update. Punjab National Bank has communicated this KYC update requirement to customers via social media. In their announcement, PNB emphasized that “as per RBI guidelines, KYC updates are mandatory for all customers. Neglecting to update KYC by the specified deadline may lead to restrictions on account operations, affecting all types of transactions.” Previously, the deadline for KYC updates was set for March 26, 2025, extending until December 31, 2024.
KYC (Know Your Customer) is crucial within the banking sector, as it aids in verifying the identity and address of customers. This process is essential for maintaining accurate customer information, which helps mitigate financial fraud.
Punjab National Bank has issued a warning regarding
Additionally, Punjab National Bank has issued a warning regarding potential scams, advising customers not to click on or download any links or files from unknown sources. Customers are encouraged to report any suspicious calls or messages immediately. It is also noted that KYC updates are necessary for customers whose accounts are due for renewal on March 31, 2025.
Updating KYC is a straightforward process, and PNB has provided multiple options for customers to complete it. Customers can visit any nearby branch to submit the required personal documents or update their KYC online through PNB One or internet banking. Furthermore, the bank allows customers to send KYC documents via post to its main branch.