New Bank Regulations : Minimum Balance in Your Account Must be Doubled! Otherwise, Double Charges will be Levied; Check Details

PNB customers should be aware of some important news. If you are a customer of Punjab National Bank (PNB), you will suffer a significant setback. Indeed, PNB has raised the fees for services related to general banking operations. These new fees will go into effect on January 15, 2022. This information has been provided by PNB.

There should be now 10,000 rupees in the current account

According to the PNB website, the charge for non-maintenance of quarterly balance in the metro area is The current account balance has been increased from Rs 5,000 to Rs 10,000. The penalty for failing to maintain a minimum balance in urban areas has been raised from Rs 200 to Rs 400 per quarter. At the same time, the charge for urban and metro areas has been raised from Rs 300 to Rs 600. Let us inform you that this fee will be assessed on a quarterly basis. Its rules apply to current accounts.

Charges for new lockers

Not only that, but the locker fees for both sectors have been raised. The fee for all types of lockers has been raised under the new rule, with the exception of the XL size. At the same time, the charge in urban and metro areas has been increased by Rs 500. Previously, the number of free locker visits per year was set at 15. In addition, a fee of Rs 100 per visit was imposed. However, as of January 15, 2022, the number of free visits in a year has been reduced to 12. Following that, a charge of Rs 100 per visit will be levied.

Changed the rules for the current account as well

According to PNB’s most recent tariff, the fee for opening a current account has been raised from Rs 600 to Rs 800. Accounts that are closed after 12 months will not be charged. According to the PNB website, the return charges on NACH debit have been increased from Rs 100 per transaction to Rs 250 per transaction with effect from February 1, 2022.

PNB’s CEO has been replaced

The government’s Appointments Committee of the Cabinet (ACC) has approved the appointment of Atul Kumar Goel as MD and CEO of Punjab National Bank (PNB). Let us inform you that Atul Kumar Goel is the current MD and CEO of UCO Bank. According to the committee, Goyal’s charge will take effect on February 1 of the following year. PNB’s CEO, Atul Kumar Goel, will remain in office until December 31, 2024.

Significantly, Punjab National Bank is the country’s second largest public sector bank. PNB has appointed Atul Kumar Goyal as an Officer on Special Duty (OSD) until January 31, 2022. Goyal will succeed Mallikarjuna Rao, who is currently both MD and CEO of PNB.