PNB Alert: If you hold an account with Punjab National Bank (PNB), this information is crucial for you. The bank has recently released a notice indicating that accounts with no transactions over the past three years and a zero balance may be closed starting April 16, 2026. Such accounts will be deemed ‘inoperative’ and will be shut down without any additional notice. To prevent this, customers need to update their KYC (Know Your Customer) by April 15, 2026, or conduct at least one transaction on their account. Not doing so could lead to the permanent closure of your account.
Why was this decision made?
This action by the bank aligns with regulatory requirements. It is intended to eliminate long-dormant accounts and maintain a secure and clean banking system. This also aids in reducing fraud.
Why is updating KYC essential?
Keeping your KYC updated ensures your account remains active and allows you to take full advantage of banking services. Neglecting to update your KYC may lead to your account being closed, making reactivation challenging later on.
How can you update your KYC?
Visit a bank branch
You can go to your nearest PNB branch and provide the necessary documents, such as your Aadhaar card and PAN card. The bank staff will promptly update your information.
Online- You can also update your KYC using the PNB ONE app or through internet banking. Simply log in to the app, navigate to the ‘KYC Update’ section, and verify your identity via OTP.
By post or email- If visiting the branch is not an option, you can send your documents to your home branch via registered post or email.
Therefore, if you have a PNB account that hasn’t been used for a while, make sure to either perform a small transaction or update your KYC right away. This will help secure your account and avoid any issues. Remember, the deadline is April 15, 2026, so make sure to take care of this before that date.