New Rules Punjab National Bank has announced to change the cash withdrawal rules from ATM from 1 December.These new rule will be quite secure According to the bank.
New Rule From December 1, 2020,
Punjab National Bank is going to setup one time password (OTP) based cash withdrawal facility. Cash withdrawal of more than Rs 10,000 at one time will now be OTP based.
This means that PNB customers will need OTP to withdraw an amount of more than 10000 rupees in this time period. This rule will be applicable from 8 pm to 8 am from 1 December. So the customer should take his mobile with him.
New Rule is Also Applicable To These Banks
United Bank of India and Oriental Bank of Commerce (OBC) have been merged in Punjab National Bank, 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.