The government’s leading bank, Punjab National Bank (PNB), has asked its customers to update their KYC (Know Your Customer) information before 31st August 2023, in accordance with the RBI guidelines. According to a press release issued by PNB on 2nd August 2023, customers whose accounts still require KYC updates have been sent two notices by the bank to their registered addresses, and they have also been informed via SMS on their registered mobile numbers. Additionally, information regarding this update has been provided in newspapers as well.
What is stated in the information
According to the information provided in the newspaper, as per RBI’s guidelines, it is mandatory for all customers to update their KYC. The guidelines state that if your account requires KYC updating by 31st March 2023, you are urged to update your KYC either through PNB One, Internet Banking Services (IBS), registered mail, or by visiting any branch before 31st August 2023. Failure to do so may result in restrictions on accessing your account.
What is PNB One
PNB One is a means through which PNB provides updated information as part of the KYC practice to its customers. It requires customers to provide identification proof, address proof, a recent photograph, PAN (Permanent Account Number), income proof, mobile number (if available), or any other required KYC information. If there are no changes in your existing information, you can send a self-declaration to the Aadhaar center stating that there have been no changes in your details. However, if there have been changes in your address, you need to submit the updated KYC documents as per the bank’s requirements through email, postal mail, a letter, or by visiting the bank personally.
How to check your KYC status
To check your KYC status, log in to PNB’s website using your credentials. Then, go to the “Personal Settings” section and select “KYC Status Check.” If your KYC is complete, it will be displayed there. Customers who wish to complete e-KYC can do so through the IBS/PNB One module by submitting a declaration letter along with their current address, annual income, and turnover.
