The Punjab National Bank has issued a notice for account holders stating that the bank will close accounts in which there are no customer induced transactions or operations for more than three years as of 30th September 2026 and in which there is no or zero balance.
The bank has asked all such account holders to reactivate their inoperative accounts by submitting KYC documents in the respective branches on or before 10 November 2026.
PNB to close inoperative accounts
Issuing the public notice on October 26, 2026 on X for account holders of inoperative accounts with Punjab National Bank, the public sector bank said that in certain accounts there has been no customer induced operation for the last three years and there is no balance in these accounts. To ensure that these accounts are not misused and to prevent inherent risks, the bank has decided to close such accounts.
PNB has notified account holders whose accounts have no customer induced transactions or operation for more than three years as of 30th September 2026 and in which there is no or zero balance. The bank said that it will close such accounts to prevent their misuse and reduce potential risks.
How can account holders retain their accounts?
The bank has asked account holders holding inoperative accounts to get such accounts reactivated by submitting KYC documents in the respective branches on or before 10 November 2026. Customers who wish to retain their accounts with the bank and avail uninterrupted banking services with the bank will have to reactivate the account by submitting KYC documents by the given deadline.
What will happen if KYC is not updated?
In an earlier post, the bank stated that KYC updation is mandatory for all customers as per RBI guidelines. If an account holder’s account has become due for KYC updation as of 30 September 2026, they have to get their KYC updated by 31 October 2026. The bank warned that non-updation of KYC within the required deadline may lead to restriction of operations in their account.
KYC is a mandatory verification process used by banks to confirm a customer’s identity, legitimacy and address. It is primarily designed to prevent illegal activities like money laundering, fraud and terror financing.
How can customers update KYC?
Punjab National Bank has said that account holders can update their KYC details through PNB ONE, IBS, registered e-mail, post, WhatsApp, SMS, corporate website or by visiting a branch in person. The bank has also warned customers not to click on links or download files received from any unverified sources to update their KYC.
