Do you also have an account with Punjab National Bank (PNB Bank)? Then this news is important to you, as PNB has issued an alert to account holders who have had no transactions in their accounts for the past three years. The bank has warned such customers that if necessary steps are not taken, their accounts will be closed after April 15, 2026.
Account with zero balance
According to an official notice from Punjab National Bank, this deactivation will apply only to accounts that have been inactive for the past three years and currently have a zero balance. The bank also shared information in this regard via a post on the social media platform Twitter (now X), urging people to activate such accounts. In addition to issuing a warning, PNB has advised account holders to reactivate their accounts by the April 15 deadline. To do this, you can visit your nearest PNB branch and complete your Know Your Customer (KYC) process.
The social media post clarified that if the account is not activated by this deadline, it will be closed without any alert on or after the next day, i.e., April 16. Account closure can be avoided by completing a simple KYC update or initiating transactions.
To reduce the risk associated with inactive accounts
Punjab National Bank clarified that this action is intended to reduce the risk associated with inactive accounts. Banks are closely monitoring inactive or current accounts without balances and transactions due to the risk of fraud. Periodic KYC updates are also part of banking regulations. The bank has stated that customers who are unable to accurately verify their bank account status should contact their bank branch immediately, especially those who have not used their account in a few years. It is worth noting that Punjab National Bank is one of the largest banks in the country, with a market capitalisation of Rs 1,22,457.31 lakh crore. PNB shares, listed on the stock exchange, rose nearly 2 per cent on Monday, closing at Rs 106.55.
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