The Punjab National Bank (PNB) becomes the first public sector bank to make locker visiting facility free for its customers. The lender had earlier allowed 12 free visits to the lockers per customer in a year. The new rule, which eliminates an additional fee charged by the bank during locker visits, has been introduced from August 1, 2016.

• It is a customer-friendly move. With this, PNB has become the first public sector bank to make locker visiting facility free for its customers. PNB used to charge Rs. 50 per locker visit once a customer crossed the limit of 12 visits specified under the bank’s rules regarding locker operations.

• As per PNB locker operational guidelines, a high risk lessee is required to operate the locker at least once in an year while medium risk lessee at least once in three years.

• Non-operation of locker within the stipulated period may lead to breaking open of locker, irrespective of the fact that rent is paid by locker hirer regularly.

Punjab National Bank

Punjab National Bank is an Indian multinational banking and financial services company. It is a state-owned corporation based in New Delhi, India. Founded in 1894, the bank has over 6,968 branches. This is the oldest bank existing till in its preformence.

• Headquarters: New Delhi
• CEO: Usha Ananthasubramanian (Aug 14, 2015–)
• Founder: Lala Lajpat Rai
• Founded: May 19, 1894, Lahore, Pakistan