NEW RULE OF PNB
If you are a customer of Punjab National Bank (PNB) then this news is for you. Actually, PNB has announced to change the cash withdrawal rules from December 1. According to the bank, the new rule will be quite secure.
WHAT IS NEW RULE
From December 1, PNB is going to implement one time password (OTP) based cash withdrawal facility. According to the information given by PNB, cash withdrawal of more than Rs 10,000 at one time will now be OTP based.
APPLY FROM 8 PM
This rule will be applicable from 8 pm to 8 am from 1 December. This means that PNB customers will need OTP to withdraw an amount of more than 10000 rupees in this time period. So customers take their mobile with them.
ALSO APPLICABLE TO THESE BANKS
Let us tell you that United Bank of India and Oriental Bank of Commerce (OBC) have been merged in PNB, which is effective from 1 April 2020. This is to say that the OTP based facility of PNB will also be applicable to the customers and ATMs of these banks.
SBI IS ALSO PROVIDING FACILITIES
Earlier, State Bank of India (SBI) also started the facility of OTP based cash withdrawal from ATMs. From last September, SBI has implemented OTP based ATM withdrawal facility for cash withdrawal of 10000 rupees or more. Earlier this facility was for a limited time.