New Delhi:
If you have an account with Punjab National Bank (PNB), it’s crucial to update your KYC (Know Your Customer) details by August 12.
Approximately 3.25 lakh PNB account holders have not yet completed their KYC updates.
Failure to do so by the deadline could result in the suspension of account operations.
Importance of KYC Update
Following the guidelines of the Reserve Bank of India (RBI), all banks are required to ensure their account holders update their KYC details. PNB has identified around 3.25 lakh account holders who missed the March 31 deadline for KYC updates.
These individuals now have until August 12 to complete the process to avoid potential issues.
Consequences of Not Updating KYC
If account holders fail to update their KYC by August 12, their accounts may become inactive. This would mean:
Inability to Withdraw Money: Account holders will not be able to withdraw funds.
Loan Restrictions: Account holders will not be able to take out loans.
Deposits Only: While deposits can still be made, other functionalities will be restricted.
How to Update Your KYC
1) Visit a Branch:
Go to the nearest PNB branch. Bring necessary documents such as identity proof, address proof, latest photograph, PAN card, and proof of income.
2) Online and Other Methods:
Use PNB One, Internet Banking Services (IBS), or send the required documents via registered email or post.
Required Documents
Ensure you have the following documents ready:
- Identity Proof
- Address Proof
- Latest Photograph
- PAN Card
- Proof of Income
Updating your KYC ensures uninterrupted access to your account and avoids any inconvenience.
