PNB Introduces 'Safety Ring' Feature to Combat Cyber Fraud
| Aspect | Details |
|---|---|
| Bank | Punjab National Bank (PNB) |
| Initiative | Introduction of 'Safety Ring' security feature |
| Purpose | To provide an additional layer of protection against unauthorized access |
| Target Users | Internet and mobile banking users |
| Key Feature | Allows customers to set a daily transaction limit for term deposits (TDs) |
| Transaction Control | Prevents TDs from being closed, withdrawn, or used for overdrafts beyond the set limit |
| Implementation | Applicable across all digital channels |
| Objective | Minimize potential financial losses and enhance digital transaction security |