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PNB settles claims worth 43 lakh rupees regarding alleged fraud at Greater Noida branch
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PNB settles claims worth 43 lakh rupees regarding alleged fraud at Greater Noida branch

Punjab National Bank (PNB) assured customers on Thursday that all legitimate claims would be settled and has already resolved three claims totaling 43 lakh rupees. These claims are related to alleged financial irregularities concerning customers' savings (SB) and deposit accounts at the Greater Noida branch.

In a statement released the day after the incident was reported, the bank noted that it took the complaints seriously and is addressing the matter as a priority. The statement emphasized: 'Three claims amounting to 43 lakh rupees were settled yesterday. The bank assures its customers that all legitimate demands will be met.'

PNB stated that it is providing full support to the relevant authorities and taking necessary steps to verify the facts, assess the scale of the claimed discrepancies, and resolve the issues of affected customers. The bank also declared adherence to a zero-tolerance policy towards fraud, financial misconduct, and illegal actions, adding that those found guilty will be held accountable according to existing rules and procedures.

Furthermore, the bank confirmed its commitment to protecting customer interests and maintaining operational integrity. It is continuously strengthening internal controls and monitoring mechanisms to enhance protective measures and prevent recurrence of such incidents.

On Wednesday, account holders of Punjab National Bank in Greater Noida reported that approximately 35 crore rupees had disappeared from their savings accounts and deposits. Several customers claimed they did not authorize the fund transfers nor receive transaction notifications.

The police reported that the management suspended several bank employees, including the branch manager, and registered a case at the Beta-2 police station, which has jurisdiction over the said branch. An investigation into the matter has since commenced.

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PNB warns: actions must be taken by November 10, or the account may be closed
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PNB warns: actions must be taken by November 10, or the account may be closed

Clients whose accounts are held at Punjab National Bank (PNB) should pay attention to this notification. The bank plans to close certain inactive accounts after November 10, 2026. Such accounts include those for which no transactions have been conducted for a long time and which have a zero balance. The bank has issued a warning to such clients.

Punjab National Bank is one of the major public sector banks in the country. If your account meets the specified conditions, you must complete the necessary procedures before the deadline to avoid closure. According to Punjab National Bank, this step is being taken to prevent misuse of accounts and associated risks. However, the bank does not intend to close all inactive accounts.

The actions may affect accounts that meet two criteria simultaneously: first, no operations or transactions since September 30, 2023; and second, a zero balance on the account. If your account meets both these conditions, it may be closed after November 10, 2026. Clients falling into this category are advised to contact their bank branch before the deadline.

According to PNB guidelines, an account can be considered dormant if the client has not made any transactions for a continuous period of 24 months, i.e., two years. This includes both financial and non-financial activities. Non-financial activities may include submitting a request for any bank product or service, as well as updating KYC-related information. However, the fact that an account has become dormant is different from the bank's decision to close it. This warning from PNB specifies two conditions for account closure: a zero balance and lack of activity after a certain date.

If you have a bank account with PNB, you should first check the balance and the date of the last transaction. If the account has a zero balance and there has been no activity since September 30, 2023, you need to contact the relevant bank branch. The bank advised affected clients to provide KYC-related documents by November 10, 2026. If you have any doubts about the status of your account, you can get information by visiting the nearest PNB branch.

If your account is at risk of closure, you can go through the activation procedure by submitting the required documents to the bank branch. These documents include: proof of identity and address, such as a passport, driver's license, or voter ID; tax-related documents, such as a PAN card or Form 16, if required by the bank; and a request letter to reactivate the account. The bank may require additional documents according to its KYC policy. After submitting the documents, the bank will verify them and can make the account active after the process is complete.

If you have questions about the account closure or activation process, you can contact PNB customer support at the following toll-free numbers: 1800-1800 and 1800-2021. Clients are advised not to wait until the deadline of November 10, but to check the status of their accounts in a timely manner and undergo the necessary procedures at the branch if needed.

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