The bank has warned its customers 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 one month.
Bank Account Closed: Public sector Punjab National Bank (PNB) has warned customers 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. According to the bank, this step will be taken to protect such accounts from misuse. The Bank has decided to close such accounts to contain the underlying risk. According to the bank, the calculation of three years will be done till April 30.
Accounts 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.
Migrants will be able to use UPI
ICICI Bank, the largest private sector bank, is allowing overseas customers to use their international mobile numbers to make UPI payments in India. Overseas customers of the bank can make UPI payments by scanning any Indian QR code, UPI ID or using any Indian mobile number. You can make UPI payment by sending money to the number or Indian bank account.
The bank said that this has significantly increased their convenience in making everyday payments. With 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.
The bank has provided this service through its mobile banking app iMobile Pay. Earlier expatriates had to register an Indian mobile number with their banks to make UPI payments.
To bring forward this facility, ICICI Bank has leveraged the international infrastructure set by the National Payments Corporation of India (NPCI) for convenient use of UPI across the country. The bank provides this facility in 10 countries America, Britain, United Arab Emirates, Canada, Singapore, Australia, Hong Kong, Oman, Qatar and Saudi Arabia.
