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PNB customers will not be able to withdraw money!

Vivid News 24: Important information for Punjab National Bank clients (PNB). Account holders who have not updated their KYC (Know Your Customer) information yet could run into several issues starting next month.

It has been discovered that clients whose KYC is still pending as of December 12 may experience difficulties using their accounts to conduct transactions. Customers must update their KYC by December 12, 2022, by RBI regulations, the bank stated.

Bank informs customers

According to PNB’s press release, SMS and notices have been sent to customers whose KYC updates are pending, on their registered mobile numbers and addresses. A notification to this effect was also shared by the bank on its social media accounts on November 20 and 21.

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Mandatory PNB tweeted, “All customers must update KYC as per RBI guidelines. If a customer’s account does not have a KYC update after the September 30 deadline, it has already been communicated to the customer. KYC update for such accounts. Customers should contact the main branch for this. If KYC is not updated, account operation may be suspended.”

RBI Advice

Mainly to protect customers from online fraud, the Reserve Bank of India (RBI) has advised all banks in the country to update KYC regularly. Earlier banks asked customers to update their KYC once in 10 years. But now several banks insist on KYC updates once in 3 years.

How to update KYC?

Customers need to provide address proof, photo, PAN, Aadhaar number, and mobile number for updating KYC. This KYC can also be updated through e-mail. Also, this process can be done by visiting the bank branch. However, according to the bank, no customer will be personally sent to the bank for a KYC update through any mail, SMS, or phone call.

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Vivid News-24 Desk
Vivid News-24 Desk
Vivid News-24 News India's new growing news website. Which provides some specific categories of news, top world news, entertainment, sports, new technology, politics etc.
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