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<ul><li>The Punjab National Bank (PNB) has introduced a new One Time Password (OTP) system for account holders looking to withdraw cash from ATMs.</li><li>However, the OTP verification is only required for withdrawals of over ₹10,000.</li><li>Withdrawals of over ₹10,000 will also only be permitted between 8:00 am to 8:00 pm. </li></ul>After India’s largest public sector bank, the State Bank of India (SBI), brought in new rules for how customers could withdraw from ATMs, the Punjab National Bank (PNB) is following suit. The new rules come into effect today, but you only have to worry about the change if you plan to withdraw more than ₹10,000 at a time. Changes to PNB’s ATM rules Starting December 1, PNB account holders will now need a One Time Password (OTP) to withdraw cash of ₹10,000 or above from ATMs. Withdrawals of amounts greater than ₹10,000 will also only be available between 8:00 am to 08:00 pm. This means that if any customer has changed their registered mobile number, they will need to update their details with the bank in order to withdraw money. How to use PNB’s new OTP-based system? <ul><li>If you’re looking to withdraw more than ₹ 10,000 from an ATM, make sure you’re carrying your mobile phone with you. </li><li>Once you check-in at a PNB ATM, insert your debit/ATM card.</li><li>Enter the required details on the screen. </li><li>An OTP will be sent to your mobile phone to verify your identity. </li><li>Enter the OTP on the ATM machine.</li><li>If the OTP is approved, the cash will be released. </li></ul>SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-is-still-fighting-its-ban-as-indigenous-clone-fau-g-makes-its-debut/articleshow/79503526.cms">PUBG Mobile India is still fighting its ban as indigenous clone FAU-G makes its debut</a> <a href="https://www.businessinsider.in/business/startups/news/kunal-shah-cred-raises-80-million-valuation-doubles-to-800-million-for-the-just-two-year-old-startup/articleshow/79502864.cms">Kunal Shah’s CRED raises $80 million — valuation doubles to $800 million for the just two-year old startup</a> <a href="https://www.businessinsider.in/science/space/news/new-technology-to-create-fuel-and-oxygen-on-mars-could-help-humans-explore-the-deep-sea-here-on-earth/articleshow/79504876.cms">New technology to create fuel and oxygen on Mars could help humans explore the deep sea here on Earth</a>

After SBI, PNB brings in new rules to withdraw cash from ATMs

<ul><li>The Punjab National Bank (PNB) has introduced new rules for customers looking to withdraw more than ₹ 10,000 from ATMs starting December 1.</li><li>The Reserve Bank of India’s (RBI) direction to make RTGS facilities available around the clock will be available starting today. </li><li>The Jhelum Express and Punjab Mail are also set to restart their operations on December 1. This after all railway services were suspended in view of the coronavirus pandemic. </li></ul>Customers of Punjab National Bank (PNB) will now have to carry their mobile phone if they wish to withdraw more than ₹10,000, the price of <keyword id="75088" type="ORGANIZATION" weightage="20" keywordseo="LPG-cylinders">LPG cylinders</keyword> may change, and insurance holders can slash their premiums starting December 1. Here all the changes kicking in today that have the potential to impact your day-to-day lives: 1.PNB changes ATM withdrawal rules for an amount greater than ₹10,000 PNB account holders will now be <a href="https://www.businessinsider.in/personal-finance/news/after-sbi-pnb-brings-in-new-rules-to-withdraw-cash-from-atms/articleshow/79507884.cms">required </a>to put in a One Time Password (OTP) when withdrawing amounts greater than ₹10,000. Withdrawal of large sums will also be limited to between 8:00 am to 8:00 pm. 2. Around the clock RTGS Real-Time Gross Settlement (RTGS) is normally restricted to between 7:00 am to 6:00 pm. However, back in October, the Reserve Bank of India (RBI) announced that the <a href="https://www.businessinsider.in/finance/banks/news/rtgs-will-be-available-24/7-starting-december-this-year/articleshow/78569073.cms">service will be available 24/7 starting this month.</a> This means the RTGS service will be online around the clock, all seven days of the week, except for on the second and fourth Saturdays of the month. 3. Two new trains set up make their comeback to the tracks The Jhelum Express and Punjab Mail are set to restart their operations on December 1 after all railway services were suspended in view of the coronavirus pandemic. Both these trains will run on a daily basis. Jhelum Express runs from Pune in Maharashtra to the country’s national capital, New Delhi before reaching its final destination in Jammu Tawi. The Punjab Mail is a superfast express train from Mumbai Central Station to Firozpur Cant. 4. Insurance holders can change premiums Insurance policy holders will be able to reduce the premiums on their life insurance policy by up to 50% if they have completed five years on the same policy. However, reduced premiums will also mean reduced cover. 5. LPG cylinder prices The change in LPG cylinder prices is a monthly exercise. The prices get updated every month based on the fluctuations of crude prices and the rupee-dollar exchange rate. However, so far, there has been no change in the LPG price by Indian Oil. Current prices of non-subsidised LPG cylinder: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price of LPG cylinder </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 594 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 594 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 620.50 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 610 </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-is-still-fighting-its-ban-as-indigenous-clone-fau-g-makes-its-debut/articleshow/79503526.cms">PUBG Mobile India is still fighting its ban as indigenous clone FAU-G makes its debut</a> <a href="https://www.businessinsider.in/science/space/news/new-technology-to-create-fuel-and-oxygen-on-mars-could-help-humans-explore-the-deep-sea-here-on-earth/articleshow/79504876.cms">New technology to create fuel and oxygen on Mars could help humans explore the deep sea here on Earth</a> <a href="https://www.businessinsider.in/stock-market/news/tech-mahindras-share-price-hits-a-new-high-as-the-company-targets-the-100-billion-cloud-opportunity-and-guns-for-5g/articleshow/79506939.cms">Tech Mahindra's share price hits a new high as the company targets the $100 billion cloud opportunity and guns for 5G</a>

PNB ATM withdrawals, LPG cylinders, and insurance policies — five major changes set to kick in on December 1

<ul><li><keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> is shutting down non-EMV ATMs starting today, February 1.</li><li>EMV ATMs are those which hang on your card during a transaction, unlike others which allow customers to swipe and transact.</li><li>EMV chip enabled transactions are said to be more secure than regular magnetic cards since it’s nearly impossible to clone.</li></ul>In an endeavour to make financial transactions more secure while also playing catch up, Punjab National Bank (<keyword id="47268" type="ORGANIZATION" weightage="20" keywordseo="PNB">PNB</keyword>) is shutting down its non-EMV ATMs starting today. This applies for financial and non-financial transactions such as checking your balance or even changing your PIN. <div type="twitter" handle="pnbindia" handlename="Punjab National Bank" image="http://pbs.twimg.com/profile_images/1281473044225986560/y9wgTHfm_normal.jpg" favoritecount="238" retweetcount="48" status="To protect our esteemed customers from fraudulent ATM activities, PNB will be restricting transactions(financial &amp;… https://t.co/zRq9IsyriY" createdat="1610631000000" id="1349710359570092038"></div> Old school ATMs only required individuals to swipe and the machine would read the magnetic strip. With chip-enabled ATM cards, the machine holds the card while a transaction is conducted. With non-EMV PNB ATMs being shut down, it means that those machines which do not hang onto your while you make a transaction will no longer be functional starting February 1. The number of such ATMs being shut down is not known. Latest in a slew of updates for PNB In December, PNB announced that it would no longer allow customers to withdraw more than ₹10,000 from ATMs round the clock. Larger transactions would only be possible between 8:00 am to 8:00 pm. Furthermore, any transaction of more than ₹10,000 would require an one-time-password (OTP) that will be sent to the customer’s registered mobile phone number. What is EMV? EMV, an acronym for the three companies which created the security standard — Europay, Mastercard and Visa — is a technical quality level for smart payments cards. EMV cards are also called smart cards, chip cards, or integrated circuit cards. EMV chip card transitions are considered to be more secure than regular magnetic card transactions. It negates the possibility of criminal hackers cloning a customer’s card because while the magnetic strip can be copied, bad actors are yet to find a way to duplicate a chip. EMV cards generate new data every time a fresh transaction is made, which makes it nearly impossible for fraudsters to copy the original data from your card. EMV cards also generate a unique encrypted code called a token or a cryptogram for every transaction. In India, EMV cards were introduced in May 2015 by the Reserve Bank of India (RBI). The apex banking institution asked all banks to gradually phase out magnetic cards and move to EMV chip cards with a deadline of 31 December 2018. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/the-aung-sang-suu-kyi-facing-a-coup-today-is-not-the-nobel-prize-winning-peace-icon-she-once-was/articleshow/80623338.cms">The Aung Sang Suu Kyi facing a coup today is not the Nobel prize winning peace icon she once was</a> <a href="https://www.businessinsider.in/finance/banks/news/bank-holidays-in-february-2021/slidelist/80622248.cms">Bank holidays in February 2021</a>

Punjab National Bank is shutting down ATMs that don’t scan card chips starting today

Is it a car? Is it a taxi? Or is it an ATM? It’s just another <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> Cab fitted with ATM. 
 After petrol pumps, cash can now be withdrawn by swiping debit cards at select Ola cabs as India's largest ride-hailing service partners with lenders like <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword> (SBI) and <keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> to ease cash crunch, according to a news report by an agency. 
 
With banks and ATMs not being able to cope with the rush for access to lower denomination or new currency after old Rs 500 and 1,000 notes were banned, cash dispensing through swipe of debit cards at POS machines was introduced at around 3,700 petrol pumps. 
 The same is being replicated by Ola on a test basis in its cabs in <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword> and Hyderabad where taxis with a bank officer and POS machine are parked at different locations and dispense cash of Rs 2,000 per card. 
 Ola Chief Operating Officer <keyword id="2904207" type="UNKNOWN" weightage="20" keywordseo="Pranay-Jivrajka">Pranay Jivrajka</keyword> told that the initial response has been tremendous and the company was exploring with banks to expand this service to other cities with cash being dispensed on the go rather than current experiment of cars being parked at a particular busy point. 
 In Kolkata, Ola has partnered with Punjab National Bank (<keyword id="47268" type="ORGANIZATION" weightage="20" keywordseo="PNB">PNB</keyword>), while for Hyderabad, it has collaborated with SBI and <keyword id="6358006" type="CITY" weightage="20" keywordseo="Andhra-Bank">Andhra Bank</keyword>. "The week-long activity, that is already servicing thousands of citizens, will continue till end of the month. It (cabs) will visit areas like Chandni Chowk Metro Station, Esplanade Metro, Barabazaar, Salt Lake, Exide and <keyword id="2668672" type="UNKNOWN" weightage="20" keywordseo="Rashbehari">Rashbehari</keyword> (in Kolkata)," he said. 
 Cars carrying POS machine are servicing citizens in popular areas in Hyderabad like <keyword id="184466" type="COMPANY" weightage="20" keywordseo="KBR">KBR</keyword> Park, JNTU, Inorbit Mall over the weekend, he added. 
 
"We are also looking at flagging off the programme in other key cities, including Delhi. The banks are providing on-ground executives to enable people withdraw cash seamlessly," he said. 
 
Following the government's move to scrap old Rs 500 and Rs 1,000 notes earlier this month, there have been serpentine queues at banks and ATMs as people lined up to withdraw valid currency. 
 
There have been demands for setting up more mobile ATMs across the country and also refilling them more often as there seems to be a crunch of liquid cash given the long queues. 
 
Ola, which has its mobile wallet service, claimed it has seen 1500 per cent growth in recharge of 'Ola Money'. 
"The number of trips paid in cash has certainly gone down. More people are now paying using digital platforms like Ola Money and credit/debit cards," he said.

You can now swipe
card and collect cash on Ola Cabs

New Delhi, May 10 () At a time when the spread of COVID-19 has made social distancing a buzzword, banks have increased their reliance on social media to engage with their customers -- may it be for disseminating information or for dispelling their boredom. The government imposed a 21-day countrywide lockdown beginning March 25 to check the spread of coronavirus, and extended it twice, prompting business entities including banks to get innovative on social media. Among the noteworthy initiatives by banks during the lockdown, HDFC Bank came out with a scheme to help its customers find their hidden artistic talent. "Tired of staying home and having nothing to do? HDFC Bank Fingage presents The Art Project, to give you a #BreakFromBoredom! Unlock your creativity during the lockdown &amp; stand a chance to win exciting prizes!," tweeted the bank, trying to engage its customers during the lockdown. Punjab National Bank (PNB) has come up with a contest on the Mother's Day with a catchy slogan, "For her, you will always remain a child." Since the lockdown has made online banking more vulnerable to fraudsters, several banks are regularly warning their customers against possible frauds. "Beware of fraudsters who pose as bank officials and scam people by gaining remote access to their mobile phone screens through an app. Inform us when you identify a scamster through e-mail: epg.cms@sbi.co.in &amp; report.phishing@sbi.co.in," tweeted SBI. Similar warnings were issued by a few other lenders. "Fraudsters find new ways to target innocent people. And this time, they are targeting through banking and other payments apps to steal your hard-earned money. Be careful and keep following the #PNBKaFunda to learn the ways to avoid them," PNB tweeted. Another public sector major Canara Bank warned its customers in a tweet, "Don't get hooked by #Phishing! Always check before you click on any links. Be cautious about opening any attachments or downloading files received via email/sms , if source is unknown." A few banks have also come up with 'lockdown offers' for their customers. HDFC Bank offered discount on purchase of jewellery on Akshaya Tritya with a promise that part of the money would go to PM Cares Fund. "This Akshaya Tritya, buy jewellery from the safety of your home, with HDFC Bank Credit Cards! With every purchase above Rs.10,000, we will contribute Rs. 100 to the PM Cares Fund and you earn 5X Reward Points," HDFC Bank tweeted. Union Bank of India has offered discount on purchase of medicine. "In this difficult time, it's easy to save some cash on your pharmacy bill. Just use #UnionBankofIndia cards at your nearest Apollo Pharmacy Store to get up to 15% off," UBI said in a tweet. SBI gave a similar offer to its customers: "Get a health check from the comfort of your home with Apollo 24/7. Earn great discounts on key lab tests via YONO SBI app." Some banks are telling customers how they are tweaking services to suit the times. Union Bank of India informed its customers that for the time being there would be no charge on withdrawal of funds from ATMs of other banks. "To ease the lockdown burden, Debit card ATM withdrawals from any other bank ATMs will be free of charge till 30th June 2020," the bank said in a tweet. Banks are also making sure people in rural areas do not crowd the branches for direct benefit transfers. The country's largest lender SBI informed that the second installment of Rs 500 had been deposited in the accounts of female Pradhan Mantri Jan Dhan Yojana account holders under Pradhan Mantri Garib Kalyan Yojana. It also provided a schedule for withdrawal of funds by them so that social distancing norms are not breached. NKD CS RVK

You Searched For "pnb atm withdrawals" and got 5 results

After SBI, PNB brings in new rules to withdraw cash from ATMs

BI India Bureau

PNB ATM withdrawals, LPG cylinders, and insurance policies — five major changes set to kick in on December 1

BI India Bureau

Punjab National Bank is shutting down ATMs that don’t scan card chips starting today

Prabhjote Gill

You can now swipe card and collect cash on Ola Cabs

BI India Bureau

Banks find new ways to amuse and inform during lockdown

PTI

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