In 2025, the Indian banking landscape has seen some significant changes that are expected to impact millions of customers. Leading banks like State Bank of India (SBI), Punjab National Bank (PNB), and Canara Bank have introduced new banking rules to streamline services, enhance security, and provide better customer experiences. These changes are crucial to know as they will affect everything from online banking transactions to account maintenance. Whether you’re an existing customer or considering switching to one of these banks, it’s important to stay updated on these rules to avoid unnecessary complications.
Table of Contents
New Banking Rules for SBI, PNB & Canara Customers
| Bank | New Rule | Impact | Official Source |
|---|---|---|---|
| SBI | Introduction of new SMS alerts for all transactions | Provides enhanced transaction tracking and alerts | SBI |
| PNB | Revised charges for non-maintenance of minimum balance | Customers may incur extra charges if balance is not maintained | PNB |
| Canara Bank | Mandatory KYC update every 5 years | Customers need to update KYC regularly to avoid service interruptions | Canara Bank |
| SBI & PNB | Enhanced two-factor authentication for online banking | Increased security for online transactions | SBI, PNB |
| Canara Bank | Introduction of paperless checkbook requests | Easier and faster way to order checkbooks online | Canara Bank |
Banking in India has undergone tremendous transformation with digital advancements and changing regulatory norms. Recently, three of the country’s largest banks—State Bank of India (SBI), Punjab National Bank (PNB), and Canara Bank—have rolled out several new rules aimed at improving both security and customer convenience. These rules touch on a variety of areas including transaction tracking, account management, KYC updates, and more. It’s important for customers of these banks to understand how these changes affect their day-to-day banking operations. In this article, we will explore the top five banking rule changes you need to know about to ensure smooth and hassle-free banking in 2025.
Top 5 New Banking Rules You Must Know
1. SBI’s Introduction of Enhanced SMS Alerts
State Bank of India (SBI) has introduced an improved SMS alert system to keep customers updated on all banking transactions. This includes notifications for deposits, withdrawals, and transfers, as well as updates on account balance changes. Previously, these alerts were limited, but the new system ensures that every transaction, including failed or pending ones, is notified to customers in real time.
Investment in Customer Security:
SBI has invested heavily in this update to improve customer trust and safety. This enhanced alert system helps customers keep track of their finances more effectively and prevents fraud by notifying them of any unauthorized activities on their accounts.
Impact:
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Improved transaction transparency.
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Real-time notifications for account activity.
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Enhanced fraud detection and prevention.
2. PNB’s Revised Charges for Non-Maintenance of Minimum Balance
Punjab National Bank (PNB) has revised its charges for customers who fail to maintain the minimum required balance in their accounts. This new rule applies to savings accounts, where the minimum balance requirement varies based on the type of account and the branch’s location.
Why the Change?
PNB is making this move to encourage responsible account management and ensure that customers are more vigilant about maintaining the required balance. Non-maintenance will attract a penalty charge, which varies based on the shortfall.
Impact:
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Extra charges for not maintaining the minimum balance.
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Encourages customers to be more proactive in managing their accounts.
3. Canara Bank’s Mandatory KYC Update Every 5 Years
Canara Bank customers are now required to update their Know Your Customer (KYC) information every five years. This rule applies to all types of accounts, including savings, current, and fixed deposits. Customers who fail to comply with this requirement will face restrictions on their banking services, such as being unable to perform transactions or withdraw funds.
Why the Change?
The move to update KYC data regularly is part of a broader effort to comply with anti-money laundering regulations and to ensure that banks have up-to-date information on their customers.
Impact:
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Periodic KYC updates ensure compliance with regulations.
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Avoids service interruptions for customers who comply.
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Requires customers to provide updated documents every 5 years.
4. Enhanced Two-Factor Authentication for Online Banking (SBI & PNB)
Both SBI and PNB have introduced an enhanced two-factor authentication (2FA) system for online banking transactions. This new rule adds an additional layer of security by requiring customers to authenticate their identity via an OTP (one-time password) sent to their registered mobile number, along with a second verification via their bank’s app or website.
Why the Change?
The move is in response to growing concerns over online banking fraud. By strengthening the 2FA process, both banks aim to make online banking transactions safer for customers and reduce the risk of unauthorized access.
Impact:
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Increased security for online transactions.
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Protection against hacking and fraudulent activities.
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Ensures that only authorized individuals can perform transactions.
5. Canara Bank’s Paperless Checkbook Requests
Canara Bank has made the process of ordering a checkbook more convenient by introducing a paperless system. Customers can now request a checkbook online through the bank’s official website or mobile app, without needing to visit the branch or fill out physical forms.
Why the Change?
This change is part of Canara Bank’s push to digitize its services and reduce paperwork, making the process faster and more customer-friendly.
Impact:
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Faster checkbook delivery.
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Paperless, digital request system.
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Greater convenience for customers who prefer not to visit the branch.
Conclusion
The recent changes in banking rules introduced by SBI, PNB, and Canara Bank are designed to enhance security, improve customer convenience, and encourage better financial practices. While some of these changes—like mandatory KYC updates and the new minimum balance charges—may require customers to adjust their habits, they ultimately aim to streamline banking and reduce risks. By staying informed and adapting to these new rules, customers can continue to enjoy smooth, hassle-free banking experiences in 2025.
FAQs
1. What happens if I fail to maintain the minimum balance in my PNB account?
Failure to maintain the minimum balance in your PNB savings account will result in penalty charges. The amount varies depending on your account type and branch location.
2. How often do I need to update my KYC with Canara Bank?
Canara Bank requires customers to update their KYC information every five years. Failure to do so will result in restricted banking services.
3. How does the enhanced SMS alert system benefit me as an SBI customer?
SBI’s new SMS alert system ensures that you are notified in real-time about all transactions, enhancing transparency and helping you track your finances more effectively.
4. Do I need to visit the bank to request a checkbook with Canara Bank?
No, Canara Bank has introduced a paperless system for checkbook requests. You can now request a checkbook online through the bank’s official website or mobile app.
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