Punjab National Bank (PNB) has issued an important alert for customers, warning that certain bank accounts may be closed after April 15 if required steps are not taken. The move targets accounts that have remained inactive for a long period, particularly those with no transactions and zero balance. The bank has urged customers to update their Know Your Customer (KYC) details or reactivate their accounts before the deadline. Failure to comply could result in account closure without further notice, as part of efforts to strengthen security and reduce misuse of dormant accounts.
Accounts At Risk
PNB has clarified that the action applies mainly to accounts that have seen no customer-initiated transactions for several years and currently hold zero balance. Such accounts are classified as inactive or inoperative under banking rules.
Customers who have not used their accounts for a long time may already have received alerts from the bank. If no action is taken by April 15, these accounts could be closed from April 16 onwards, possibly without any further warning.
The bank has stressed that not all accounts will be affected-only those meeting the inactivity and compliance criteria fall under this measure.
Why Bank Is Closing Accounts
The decision is aimed at improving banking security and reducing risks linked to dormant accounts. Inactive accounts are more vulnerable to fraud, misuse and unauthorised access.
PNB said the move also aligns with regulatory requirements, including maintaining updated KYC records and ensuring that account holders’ details are verified. This helps banks keep their systems clean and secure.
What Customers Should Do
To avoid closure, customers must update their KYC details before the deadline. This can be done by visiting a bank branch or using available digital channels, depending on the bank’s facilities.
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