Punjab National Bank has issued a notification to customers holding inoperative accounts, urging them to complete their Know Your Customer (KYC) formalities by April 15, 2026. Accounts that remain non-compliant beyond this deadline may face closure from April 16, 2026 onward.
What Qualifies as an Inoperative Account?
As per banking norms, a savings or current account is classified as inoperative if it has not recorded any customer-initiated transaction for a continuous period of over two years. Such accounts are flagged due to inactivity and require revalidation to remain functional.
KYC Completion Channels
Customers have multiple options to complete their KYC process:
- Visiting their home branch
- Approaching any non-home branch
- Using Video Customer Identification Process (V-CIP), where applicable
Successful completion of KYC will enable the bank to restore the account to active status.
Process to Reactivate an Inoperative Account
To reinstate account operations, customers must either conduct a valid transaction or update their KYC details through approved channels. Both financial and non-financial activities initiated by the account holder are considered valid for reactivation.
Reactivation via Home Branch
Customers visiting their registered branch must:
- Submit a formal request letter
- Provide updated KYC documents
Upon verification, the bank will reactivate the account and restore full functionality.
Reactivation via Non-Home Branch
Alternatively, customers can visit any PNB branch and:
- Submit a request along with Aadhaar details
- Complete biometric-based KYC authentication (if applicable)
Once verified, the account status will be updated to operative.
Summary
Punjab National Bank has set a firm deadline of April 15, 2026, for customers with inoperative accounts to complete their KYC requirements. Failure to comply may lead to account closure starting April 16, 2026. Customers can reactivate their accounts through branch visits or digital KYC options, ensuring continued access to banking services.
Disclaimer:
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