₹2,00,000 in SBI PNB BOB: Bank Rules, KYC, Penalties and What’s Changing – Check Latest Updates: If you have ₹2 lakh or more deposited in your savings account with State Bank of India (SBI), Punjab National Bank (PNB), or Bank of Baroda (BOB), you must pay attention to the new banking rules and compliance requirements. In recent months, banks have tightened KYC verification, transaction monitoring, and penalty policies to comply with updated RBI regulations. These changes affect how customers deposit, withdraw, or transfer money especially when the balance or transaction amount crosses ₹2 lakh.
This article explains in detail the new rules, KYC norms, penalties for non-compliance, and the latest interest and service charge updates in SBI, PNB, and BOB.
Why ₹2 Lakh Has Become an Important Limit: ₹2,00,000 in SBI PNB BOB
The ₹2 lakh limit is significant because it is used by the Income Tax Department and the Reserve Bank of India (RBI) to monitor high-value cash transactions. Any transaction whether cash deposit, withdrawal, or transfer beyond ₹2 lakh requires stricter scrutiny to prevent money laundering and tax evasion.
Banks now automatically flag accounts that cross this limit without proper KYC documentation or PAN-Aadhaar linkage. The RBI has also instructed all banks to report suspicious or unverified transactions above ₹2 lakh to the Financial Intelligence Unit (FIU).
Updated KYC and PAN-Aadhaar Linking Rules: ₹2,00,000 in SBI PNB BOB
The Know Your Customer (KYC) process is mandatory for all bank account holders. As per the latest guidelines:
- Customers must update their PAN and Aadhaar details before carrying out transactions above ₹2 lakh.
- If your KYC is incomplete or outdated, the bank may restrict account operations until you complete re-verification.
- For joint accounts, each account holder must submit updated KYC documents.
- Banks will now send SMS or email alerts for KYC re-verification before freezing an account.
Documents Required for KYC: ₹2,00,000 in SBI PNB BOB
- Aadhaar Card or Voter ID
- PAN Card (mandatory for ₹2 lakh+ transactions)
- Passport-sized photograph
- Proof of address (utility bill, rent agreement, or passport)
Cash Deposit and Withdrawal Rules (SBI PNB BOB)
(a) SBI Rules: ₹2,00,000 in SBI PNB BOB
- Cash deposits above ₹2 lakh in a day require PAN details.
- If PAN is not linked, the bank may reject the deposit.
- SBI charges a nominal service fee for non-home branch transactions beyond the free limit.
- Cash withdrawal of ₹2 lakh or more may also require prior intimation.
(b) PNB Rules: ₹2,00,000 in SBI PNB BOB
- PAN and Aadhaar are compulsory for deposits or withdrawals of ₹2 lakh or higher.
- Customers with business or current accounts must also disclose the source of funds.
- PNB has integrated enhanced monitoring systems for all large transactions.
(c) Bank of Baroda (BOB) Rules: ₹2,00,000 in SBI PNB BOB
- Cash deposits over ₹2 lakh per day are subject to PAN verification.
- If done at a non-home branch, additional service charges apply.
- For account holders without updated KYC, such transactions may be declined automatically.
Digital Transfers and Online Limits: ₹2,00,000 in SBI PNB BOB
Not just cash even online transfers are under scrutiny. If you transfer more than ₹2 lakh through NEFT, RTGS, or UPI, banks will verify your account status and KYC records.
- NEFT: No upper limit officially, but verification applies beyond ₹2 lakh.
- RTGS: Minimum ₹2 lakh, usually used for high-value transfers.
- UPI: Some banks allow up to ₹2 lakh per transaction, subject to user KYC completion.
If your PAN or Aadhaar is not linked, the bank can temporarily block outgoing transfers until verification is complete.
Income Tax Reporting & PAN Rule: ₹2,00,000 in SBI PNB BOB
As per Income Tax Rule 114B, quoting PAN is mandatory for:
- Cash deposits over ₹2 lakh in a single day.
- Purchase of fixed deposits above ₹50,000.
- Opening a new bank account.
- Transactions under property purchase or high-value mutual funds.
Banks automatically report these transactions under the Annual Information Statement (AIS) to the Income Tax Department. Repeated large transactions without declared income can invite scrutiny.
Penalties and Account Freezing: ₹2,00,000 in SBI PNB BOB
If you fail to follow the new banking norms, the following penalties may apply:
- Account Freezing: The bank can temporarily freeze your account for deposits, withdrawals, or fund transfers until you complete KYC.
- Service Charges: Transactions over the prescribed limit without valid PAN can attract penalty or service charges as per the bank’s policy.
- IT Department Notice: Unexplained deposits or withdrawals above ₹2 lakh may be flagged to the Income Tax Department.
- Interest Loss: Inactive or frozen accounts do not earn interest until compliance is restored.
Updated Interest Rates and Minimum Balance Rules
SBI: ₹2,00,000 in SBI PNB BOB
- Savings Account Interest: 2.70% p.a.
- Minimum Balance: ₹1,000 to ₹3,000 (depends on city)
- Non-maintenance penalty: ₹10 – ₹15 + GST
PNB: ₹2,00,000 in SBI PNB BOB
- Savings Account Interest: 2.70% – 3.00% p.a.
- Minimum Balance: ₹1,000 (rural), ₹2,000 (urban)
- Penalty: ₹10 – ₹20 + GST
BOB: ₹2,00,000 in SBI PNB BOB
- Savings Account Interest: 2.75% – 3.35% p.a.
- Minimum Balance: ₹500 (rural) to ₹2,000 (metro)
- Penalty for shortfall: ₹10 – ₹30 depending on region
How to Check KYC and PAN Status Online: ₹2,00,000 in SBI PNB BOB
All three banks SBI, PNB, and BOB allow customers to check their KYC or PAN linkage status online:
- Visit the official bank website or mobile app.
- Go to the “Profile” or “My Details” section.
- Look for the KYC Status or PAN Link Status option.
- Update missing details instantly using Aadhaar OTP authentication.
Expert Advice: Stay Compliant and Informed: ₹2,00,000 in SBI PNB BOB
Banking rules are becoming more digitized and transparent. The ₹2 lakh transaction threshold is part of the government’s broader effort to track large money movements and promote financial discipline. To avoid penalties:
- Keep your PAN, Aadhaar, and mobile number updated.
- Monitor your account balance and transaction history regularly.
- Avoid splitting large transactions into smaller parts to bypass rules — this can raise suspicion.
- Respond promptly to KYC re-verification messages from your bank.
Key Takeaways: ₹2,00,000 in SBI PNB BOB
| Category | Rule / Requirement | Bank Action |
|---|---|---|
| ₹2 Lakh+ Deposit | PAN mandatory | May reject transaction if missing |
| Incomplete KYC | Aadhaar & PAN update required | Account can be frozen |
| Cash Withdrawal ₹2 Lakh+ | Prior verification | Source of funds needed |
| Digital Transfer ₹2 Lakh+ | KYC check required | Temporary block possible |
| Non-Compliance | Penalty or IT notice | Based on RBI & FIU monitoring |
State Bank of India – KYC Update Page: Click Here
Bank of Baroda – Customer Service & KYC: Click Here
Punjab National Bank – Customer Information Update: Click Here
Conclusion: ₹2,00,000 in SBI PNB BOB
If your savings or deposits in SBI, PNB, or Bank of Baroda exceed ₹2 lakh, it’s crucial to stay compliant with the new rules. Ensure your PAN and Aadhaar are properly linked, KYC is updated, and all transactions are legitimate and traceable.
These updates not only protect the financial system from misuse but also safeguard customers from penalties and unwanted notices. Staying informed and proactive with your banking compliance is the best way to maintain smooth transactions in 2025 and beyond.
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