Weeks after the Reserve Bank advised banks to immediately take necessary steps to reduce the number of inoperative accounts, the Punjab National Bank (PNB) has launched a nationwide campaign to reactivate dormant accounts, including Pradhan Mantri Jan accounts. Dhan Yojana (PMJDY).

A dormant or inoperative account refers to an account in which no customer-induced transactions have been made for more than two years. To reactivate these accounts, customers must resubmit their updated KYC documents.

PNB, the country’s leading public sector bank, will run this campaign till December 24, 2024. The effort highlights “its ongoing efforts to raise awareness on the importance of maintaining active accounts, encourage customers to reactivate their accounts savings and inoperative currents, promote regular transactions”. , and prevent accounts from becoming inactive,” the lender said in a statement.

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THE RBI Earlier this month, it asked banks to take necessary steps to reduce the number of inoperative/frozen accounts and make the process of activating such accounts smoother and hassle-free, including enabling seamless updating KYC through mobile/internet banking and out-of-home branches. , customer video identification process, etc.

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PNB’s strategic efforts to improve customer engagement and experience

This campaign is also part of PNB’s strategic efforts to improve customer engagement and experience, enhance financial inclusion across the country and strengthen its current and savings account deposit base. savings (CASA).

The bank has deployed several measures to facilitate account reactivation, with representatives actively contacting customers through various communication channels.

To further enhance convenience and ensure a seamless process, the bank has enabled account reactivation at out-of-home branches using biometric authentication. For more details, customers can visit the nearest branch or log on to the official website

Existing PNB Inoperative Account Activation Process

“The customer must visit the base branch of the bank where the account is maintained with a request letter for activation of an inoperative account and submit new KYC documents. The customer must deposit a minimum of Rs 100/- in his account at the time of activation of inoperative accounts. The individual customer can apply to any branch of the bank with a letter requesting activation of an inoperative account. The customer has to submit the Aadhaar number at the branch and the same has to be validated by UIDAI using biometric e-KYC. While updating the KYC details of the customer, he must deposit a minimum of Rs 100/- in his account at the time of activation of inoperative accounts. The branch will convert the account to operational category and authorize transactions in the account after verification,” according to the PNB website.

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Documents required for activation of inoperative accounts

“Valid OVD (passport, driving license, proof of possession of Aadhaar number, voter identity card issued by the Election Commission of Indiaemployment card issued by NREGA duly signed by a state government officer and letter issued by the National Population Register containing details of name and address) Tax Proof (PAN/Form-60) Request letter for activation of inoperative accounts Any other documents as per the bank’s KYC policy,” the bank said.