Punjab National Bank to close inoperative accounts from June 1

Category : Business and economics Published on: May 13 2024

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Punjab National Bank (PNB) has announced that it will close dormant bank accounts of all its customers on 1 June 2024, with an aim to reduce expenses.
The last date to complete KYC (Know Your Customer) for inoperative bank accounts is 31st May 2024, so that customers can activate their account and prevent fraud.
Punjab National Bank (PNB) has announced that the accounts of those customers whose accounts have not had any transactions for the last three years and the account balance is zero.
The main objective of closing inoperative accounts by the bank is to reduce expenses and if customers do not complete their KYC by 31st May 2024, their account will be permanently closed on 1st June 2024.