PNB Waives Minimum Balance Rule for Savings Accounts from July 1, 2025
From July 1, 2025, Punjab National Bank (PNB) has removed minimum average balance penalties on savings accounts, aiming to boost financial inclusion and ease banking for women, farmers, and low-income customers
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Punjab National Bank (PNB) has officially abolished the minimum average balance (MAB) requirement on all savings bank accounts, effective July 1, 2025. This follows a similar step by Canara Bank, making PNB the second major PSU bank to introduce such a customer-first policy.
PNB’s MD & CEO, Ashok Chandra, underlined that the move is designed to “ease financial pressure on customers and encourage greater participation in the formal banking ecosystem,” especially benefiting women, farmers, and low-income households.
Experts and customer advocates suggest that this initiative will significantly advance financial inclusion in India, helping reduce banking barriers for marginalized communities .
With both Canara Bank and PNB dropping MAB penalties, the industry may see more PSU banks adopting similar measures, potentially setting a trend for wider banking reforms.PNB minimum balance waiver, PNB no MAB penalty, PNB savings account update, July 2025 PNB news, PNB MAB removal benefits, financial inclusion India, women farmers low-income banking
