New Delhi: Punjab National Bank (PNB), the second-largest bank in India, has extended the deadline for customers to update their Know Your Customer (KYC) details. Originally set for March 31, 2025, customers who have not yet completed their KYC process now have an additional grace period until April 10, 2025. This extension applies specifically to those whose KYC was due by March 31, 2025, allowing them to update their details and avoid any inconvenience.
Importance of KYC Update for Smooth Transactions
The bank, following guidelines issued by the Reserve Bank of India (RBI), urges its customers to complete the KYC process before the new deadline. PNB emphasizes that ensuring KYC compliance is crucial for smooth transactions, helping customers avoid disruptions in their banking activities. Customers can submit their updated documents at their local branch, including identity proof, address proof, recent photograph, PAN or Form 16, income proof, and a valid mobile number.
Convenient Ways to Update KYC
PNB provides customers with multiple convenient options to update their KYC details. They can do so through Internet Banking Service (IBS) or by visiting their parental branch, where their account is maintained. For those unable to visit the branch physically, KYC updates can also be submitted via email or post to the branch.
Consequences of Failing to Update KYC
PNB has issued a warning for customers who fail to update their KYC within the extended timeline. Accounts that remain non-compliant will become inoperative, meaning customers will not be able to perform any transactions. It is critical for account holders to take action before the deadline to ensure their accounts remain active and functional.
PNB's extended grace period provides an opportunity for customers to update their details without facing any operational difficulties. The bank continues to stress the importance of timely KYC updates for seamless banking.
