Important news for Punjab National Bank customers, get this work done by May 31, otherwise accounts will be closed

Accounts that have been inactive for three years or longer and have no balance will be closed as of June 1, according to a recent announcement from Punjab National Bank (PNB). Customers who do not finish the KYC (Know Your Customer) process by May 31, 2024, will have their accounts closed, according to the public sector bank, if they have not had any activity or balance for the previous three years. There won't be any more communication with the account holders after this date.

However according to the bank, certain accounts are exempt from this rule, meaning that certain unique account kinds won't be closed. Demat accounts, lockers, or accounts connected to active standing orders are examples of these.

Customers below 25 years of age, minor accounts, accounts opened for specific schemes like PMJJBY, PMSBY, SSY, APY, DBT, and accounts frozen by court orders, Income Tax Department orders, or other statutory authorities are also exempted. Has been.

PNB is taking this step to avoid security risks and ensure that inactive accounts are not misused. To reactivate the account, customers need to submit the required KYC documents at their nearest bank branch.