Have you ever opened a bank account and then forgotten about it for months or even years? Maybe you thought, “I’ll update it later.” But here’s the catch—Punjab National Bank (PNB) has rolled out a new rule that directly affects customers who ignore their KYC or keep their accounts inactive.
If you don’t take this seriously, your account could be frozen—or worse—shut down. Let’s break down what’s happening and how you can avoid the hassle.
What’s the New Rule All About?
PNB has made it mandatory to update your KYC (Know Your Customer) details on time. If an account stays inactive for 2–3 years and the KYC isn’t updated, the bank will mark it as risky.
Before closing such accounts, PNB will send a notice. But if you don’t act by then, you may lose access to your money until the KYC is completed.
Why KYC Matters More Than Ever
Fraud cases have been on the rise. Dormant accounts are often targeted by scammers who try to misuse them. To protect customers, PNB (with RBI’s backing) is tightening rules.
Think of KYC as your bank’s way of asking: “Are you really you?” Until you verify your identity, your account isn’t considered fully secure.
Deadlines You Can’t Ignore
- PNB has already issued deadlines for KYC compliance:
- Inactive accounts: Must complete e-KYC by 30 August 2025.
- All customers: Last date for regular e-KYC is 31 December 2025.
- Miss these dates, and your account may get frozen.
How to Complete e-KYC Online
Don’t want to stand in line at the branch? Here’s how you can get it done quickly online:
- Log in to your PNB Net Banking or Mobile Banking App.
- Go to the Profile section and select e-KYC.
- Upload the required documents (Aadhaar, PAN, or any valid ID proof).
- Verify your details and click Submit.
- In just a few minutes, your e-KYC will be updated without stepping out of your home.
What Happens If You Skip KYC?
- If you don’t complete your e-KYC on time:
- Your account will be frozen—no withdrawals, no deposits.
- Money in the account will stay blocked until you finish KYC.
- Later, you’ll have to go through lengthy paperwork to unfreeze it.
- Simply put—why wait for trouble when you can fix it now?