New Delhi, Jul 1 (PTI) In a bid to strengthen financial inclusion and customer empowerment, Punjab National Bank (PNB) has waived penal charges for non-maintenance of minimum average balance (MAB) in all savings accounts.

This customer-first initiative, effective from July 1, 2025, is particularly aimed at supporting priority segments, such as women, farmers and low-income households, ensuring easier and more inclusive access to banking services without the stress of balance maintenance penalties, PNB said in a statement.

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PNB MD & CEO Ashok Chandra said: 'This decision reflects our unwavering commitment to inclusive banking. We believe that waiving these charges will ease financial pressure on customers and encourage greater participation in the formal banking ecosystem".

With this step, PNB reaffirms its role as a socially responsible and customer-centric institution, dedicated to making banking more accessible and equitable for all, it added.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)