NEW DELHI, Dec 16: After RBI’s directive, state owned Punjab National Bank (PNB) has launched a nationwide campaign to reactivate inoperative accounts, including Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts.
This campaign, running until 24 December 2024, highlights the Bank’s continued efforts in raising awareness about the importance of maintaining active accounts, encouraging customers to reactivate their inoperative savings and current accounts, promoting regular transactions, and preventing accounts from becoming dormant, the Bank said in a statement.
This campaign also forms part of PNB’s strategic efforts to enhance customer engagement and experience, reinforce financial inclusion across the nation, and strengthen its Current Account and Savings Account (CASA) deposit base.
The Bank has rolled out multiple measures to facilitate account reactivation, with representatives actively reaching out to customers through various communication channels. To further enhance convenience and ensure a seamless process, the Bank has enabled account reactivation at non-home branches through biometric authentication.
Dormant or inoperative account refers to an account in which no customer induced transaction has been done for more than two years. To reactivate such accounts, customers are required to resubmit their updated KYC documents.
Earlier this month, the RBI had said the banks are advised to take necessary steps urgently to bring down the number of inoperative/ frozen accounts and make the process of activation of such accounts smoother and hassle free, including by enabling seamless updation of KYC through mobile/internet banking, non-home branches, Video Customer Identification Process, etc.
While the accounts of beneficiaries of various Central/ State government schemes like DBT/EBT etc., are required to be segregated to facilitate uninterrupted credit of such DBT/EBT amounts in their accounts, instances have been observed where the accounts of such beneficiaries have been frozen due to other factors such as pending updation/ periodic updation of KYC.
Since these accounts mostly pertain to the people from the underprivileged sections of the society, the banks may facilitate the process of activation of accounts by taking an empathetic view in such cases. The banks may also organise special campaigns for facilitating activation of inoperative/ frozen accounts.
Besides, the banks may also facilitate Aadhaar updation for customers through the branches providing Aadhaar related services. Instructions have been issued separately to SLBCs to proactively monitor the situation in their respective jurisdictions with a view to minimise customer inconvenience.
(UNI)
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