If you have an account in Public sector Punjab National Bank (PNB) then this news is definitely for you.
In a recent update, the PNB has warned customers saying that if there has been no transaction in their accounts for three years and there is no balance in them, then those accounts will be closed after a month.
PNB Closing Bank Accounts
Further, the public lender said that they are taking this step to protect such accounts from misuse.
It appears that the Bank is willing to take this decision of closing such accounts in order to contain the underlying risk.
They will be doing the calculation for three years till April 30, according to the bank.
It is noteworthy here that the accounts which are linked to Demat accounts, Active Standing Instruction Lockers, Student accounts with customers below 25 years of age, accounts of minors, accounts opened for purposes like SSY/PMJJBY/PMSBY/APY, DBT and those not registered with the Court, Income Tax Department or any An account frozen by the order of any other statutory authority will not be closed.
UPI Payments Made Easy
In another development, the largest private sector bank, ICICI Bank has allowed the overseas customers to use their international mobile numbers to make UPI payments in India.
With the use of this facility, the overseas customers of the bank can now make UPI payments by simply scanning any Indian QR code, UPI ID or using any Indian mobile number.
This can simply be done by making UPI payment by sending money to the number or Indian bank account.
This initiative holds a great significance as it has significantly increased their convenience in making everyday payments, said the bank.
By using this facility, the Bank’s overseas customers can make payments for their bills, merchant and e-commerce transactions with their international mobile number registered with their NRE/NRO bank account with ICICI Bank in India.
For enabling this service, the bank has provided this facility with the mobile banking app iMobile Pay.
Prior to this, the expatriates had to register an Indian mobile number with their banks to make such kind of UPI payments.
ICICI Bank appears to have leveraged the international infrastructure set by the National Payments Corporation of India (NPCI) to bring in this facility which will definitely make it convenient for the use of UPI across the country.
At present, this facility is provided in 10 countries including America, Britain, United Arab Emirates, Canada, Singapore, Australia, Hong Kong, Oman, Qatar and Saudi Arabia.
