The cases of bank fraud have increased rapidly in the Corona period. Despite the stringent regulations of the Reserve Bank of India (RBI), banks continue to be fraudulent. The fraudsters find some way to rob the common people. Keeping in view the increasing fraud, banks periodically issue alerts. For Punjab National Bank (PNB) customers, this news can prove to be extremely important. Punjab National Bank has changed the manner of withdrawing cash from ATMs from this month. Let us know what has changed for the customers.

In view of the increasing cases of fraud, PNB has implemented a one-time password (OTP) system to make it more secure to withdraw money from ATMs in the interest of its customers. Under this, to withdraw cash from an ATM, you have to tell the OTP on the mobile number registered with the bank. This rule will be applicable to transactions of more than 10 thousand rupees. The bank had given information about this by tweeting.

According to PNB’s tweet, the cash withdrawal of more than Rs 10,000 at a time from PNB 2.0 ATMs between 8 pm and 8 am from December 1, 2020, will now be based on the OTP system. That is, PNB customers will need OTP to withdraw more than Rs 10,000 during this period. So customers should not forget to take their mobile with them.

It may be known that the United Bank of India and Oriental Bank of Commerce have been merged with Punjab National Bank. The entity that came into existence after this is named PNB 2.0. The bank’s tweet and message clearly stated that OTP-based cash withdrawal will be applicable only at PNB 2.0 ATM. That is, OTP based cash withdrawal facility will not be applicable for withdrawing money from PNB debit / ATM card from other bank ATMs.

Earlier, the country’s largest government bank State Bank of India (SBI) has also implemented this rule for its customers.