Srinagar, Dec 01: Punjab National Bank (PNB) introduced a new facility for cash withdrawal from today December 1, 2020. In order to withdraw cash of 10,000 and above the PNB account holders will need an OTP now. Also to withdraw cash at any PNB ATM, you will need an OTP.
After State Bank of India (SBI) now Punjab National Bank (PNB) has changed rules for withdrawing cash from ATMs. Also, the customers can now easily withdraw money above 10,000 between 8 am to 8 pm.
Several changes that will directly impact the lives of the common man will kick in from today December 1, 2020. Reserve Bank of India (RBI) Governor Shaktikanta Das, in the October Monetary Policy announcements, had announced that the RTGS facility will be implemented round-the-clock on all days of the year.
On its official Twitter handle, PNB has also shared a video, explaining how to use PNB’s OTP based cash withdrawal service at ATMs with easy steps.
Watch Video| Here’s how to use PNB’s OTP based cash withdrawal service at ATMs with these steps! pic.twitter.com/aw9yLeDrYb
— Punjab National Bank (@pnbindia) November 29, 2020
The step has been taken by the bank to make a cash withdrawal from ATMs more safe and secure. It is therefore advisable to carry your mobile phones with you while visiting a PNB ATM center as the OTP will be sent on the registered mobile number by the bank.
The bank says that the OTP system will help prevent fraud involving ATMs and also prevent card cloning fraud.