Punjab National Bank (PNB) has announced a mandatory Know Your Customer (KYC) update requirement for specific account holders, with a deadline of April 10, 2025. The requirement follows Reserve Bank of India (RBI) guidelines designed to maintain account security and regulatory compliance, in accordance with the RBI’s comprehensive security measures announced for 2024.
The KYC update requirement specifically targets account holders whose accounts are due for renewal by March 31, 2025. The timeline matches similar initiatives across India’s banking sector, including the nationwide push for Aadhaar-based e-KYC verification set to conclude by March 2025.
PNB has implemented multiple channels for customers to complete their KYC updates. Account holders can visit any PNB branch to submit required documentation in person. Customers may also use the PNB ONE mobile application or Internet Banking Services (IBS) for online updates. The bank accepts KYC documentation submitted via registered email or postal mail to customers’ Aadhaar branches, making use of India’s robust digital identity infrastructure.
The KYC process serves as a fundamental verification mechanism that enables banks to confirm customer identities and prevent fraudulent activities, including money laundering and financial scams. The verification requirement is particularly significant given the recent surge in mobile banking malware attacks and the increasing sophistication of financial fraud attempts globally.
Customers who fail to complete the KYC update by the specified deadline may face account restrictions, including temporary suspension of transaction capabilities. To verify their current KYC status, customers can access their personal settings through PNB’s online banking platform or the PNB ONE mobile application, which integrates with India’s Aadhaar-based eKYC system.
The bank has issued security advisories cautioning customers against responding to unknown links or downloading files from unverified sources for KYC updates. The warning comes amid India’s enhanced efforts to combat digital fraud, including the recent launch of a national cyber scammer database. PNB recommends that customers use only official channels, including bank branches and the official PNB website, for KYC-related activities.
Sources: Times Bull, Business League, Informal Newz
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