New Delhi: Public sector lender Punjab National Bank (PNB) has issued notice for closure of dormant/inoperative accounts. The Bank said, it has noticed that in many accounts there is no operation by the customer from last 3 years and there is no balance in these accounts.
To ensure that these accounts are not misused, the bank has decided to close such accounts to prevent the inherent risk, said PNB.
The bank had issued several notices to inform the inoperative account holders who have not operated the account for more than three years as on 30 April 2024 and having zero balance or no balance in their account, that these accounts will be closed on or after 1 June 2024 without any further notices, unless the account holder activates the same by submitting the KYC documents in the respective branch.
Further, PNB said that to avoid inconvenience to customers, the Bank has decided to extend the timeline upto 30th June 2024. The bank has reminded all such account holders to reactivate their account on or before 30 June 2024 so that they can avail uninterrupted banking services with PNB. These accounts will be closed on or after 01 July 2024 without any further notice, unless the account is activated by submitting the KYC documents in their respective branches latest by 30 June 2024.
However, accounts linked to DEMAT, Lockers having active standing instruction, student accounts with customer aged below 25 years, account of minors, accounts opened for specific purpose like PMJJBY/PMSBY/SSY/APY,DBT and other statutory authorities shall not be closed under this process.
Customers can also their KYC at any branch of PNB by submitting a self-declaration. For KYC via mobile, customer has to use IBS/PNB ONE module and submit a self-declaration which must include their current address, yearly income, and annual turnover (if applicable).