PNB: Punjab National Bank is the third largest public sector bank in the country in terms of market cap. If you are a customer of Punjab National Bank, i.e. if you have a bank account in PNB, then this news is very important for you. Yes, PNB has issued a notice to its customers in this matter. If you are a PNB customer and you ignore this notice then you can create problems for yourself. Actually, PNB has asked its customers to update KYC details before January 23, 2025.
What is the periodic updation policy of PNB KYC?
PNB has said that to use all banking services without any restrictions, it is very important to update KYC before January 23. As per the PNB KYC Periodic Updation Policy, “The Bank adopts a risk-based approach for periodic updation of KYC. At least once every two years for high risk customers from the date of account opening/last KYC updation.” , once every 8 years for moderate risk customers and once every 10 years for low risk customers Periodic updation will be done.”
For which customers is it necessary to update KYC?
Punjab National Bank has said that this KYC updation is applicable for those customers whose KYC updation of their accounts was to be done by November 30, 2024 but they had not updated it. The bank has said that if a customer does not update the KYC details before January 23, then the activities on his bank account may be restricted. This simply means that if the activities of a customer’s account are restricted, then many important tasks related to his bank may get stuck.
If restrictions are imposed, important work may come to a standstill
If you are a PNB customer and you had not updated the KYC of your bank account till November 30, 2024, then it is very important for you to update the KYC this time. If you do not update KYC before January 23, then many types of restrictions may be imposed on your bank account, due to which you will not be able to do any important and important work.
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