The compensation policy of PUNJAB NATIONAL Bank is designed to cover areas relating to unauthorized debits of account, payment of interest to customers for delay in collection of cheques / instruments, payment of cheques after acknowledging stop payment instructions, remittances within India, foreign exchange services, lending etc. The policy is based on principles of transparency and fairness in treatment of the customers.

The objective of this Policy is to establish a system, whereby the customer is compensated for the financial loss due to deficiency in service or an act of omission or commission directly attributable to the Bank.

The customer, as far as possible, will be compensated without having to ask for it. The Policy covers only compensation for financial losses which customer might incur due to deficiency in the services offered by the bank which can be measured directly and as such the commitments under the Policy are without prejudice to any right the bank will have in defending its position before any forum duly constituted to adjudicate banker-customer disputes.

The website of the bank lists various deficiencies of the bank, for which compensation can be claimed

Courtesy: Website of PNB

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