PNB account holders alert! Do this before August 12 to avoid account closure

PNB Account Holders Alert: If you have an account with Punjab National Bank (PNB), then you need to update your KYC (Know Your Customer) as soon as possible. Approximately 325,000 PNB account holders have not yet updated their KYC details. These account holders have until August 12 to complete their KYC updates. Failure to do so may result in the suspension of their account operations. Here’s how to update your KYC.

What's Happening?

Following the Reserve Bank of India's (RBI) guidelines, all banks are required to have their account holders update their KYC details. PNB has identified around 325,000 account holders who have not updated their accounts as of March 31. The bank has set a deadline of August 12 for these customers to update their KYC information. If they do not comply by the deadline, they may face issues with their accounts.

PNB has clarified that these guidelines apply only to those who haven't updated their KYC by March 31. If they update their details in time, their accounts will continue to operate smoothly. Otherwise, their accounts will become inactive, preventing them from withdrawing money, taking loans, or using the account for other purposes. However, they will still be able to deposit money into the account.

How to Update KYC

To update KYC, customers can visit their nearest PNB branch in person. They will need to bring necessary documents such as identity proof, address proof, a recent photograph, PAN card, and proof of income. Alternatively, customers can update their KYC by sending an application through PNB One, Internet Banking Services (IBS), or via registered email/post.