If your account is also in those 8 banks, which have been merged, then you have to know your new IFSC code. Along with this, from where you credit the money, it will have to be updated.
Recently many banks were merged with another bank. There has also been a change in the account information of the account holders of the banks which have been merged. In such a situation, it is necessary for the customers to know the new information related to their account, otherwise they may face difficulties in the future. Actually, the IFSC code of these banks has changed, which is most necessary for transferring money to the account. Due to the change in IFSC code, all account holders have been affected.
If your account is also in those 12 banks, which have been merged, then you will have to know your new IFSC code. Along with this, from where you credit the money, it will have to be updated. If you do not do this, it may be difficult to get the money credited to your account. Also, the account holders of these banks will also have to get their new check book from the bank, because the old check will also not be valid after a few days. In such a situation, know which are those banks, whose account holders are required to know their new IFSC…
For how long will this work have to be done?
Right now money is being transferred to the account from the old IFSC code too, but it will not happen after July 1, 2021. After July 1, the old codes will no longer be valid and account holders will have to update the new codes everywhere.
Which bank account holders will have problems?
Let us tell you that recently Dena Bank, Vijaya Bank, Oriental Bank of Commerce, United Bank of India (UBI), Syndicate Bank, Andhra Bank, Corporation Bank and Allahabad Bank have merged with other banks. In such a situation there is going to be a problem for the bank holders of these 8 banks. In this, the merger of Dena Bank and Vijaya Bank, Bank of Baroda, Oriental Bank of Commerce and United Bank of India has been merged with Punjab National Bank. Apart from this, Andhra Bank and Corporation Bank have been merged with Union Bank of India. On the other hand, Allahabad Bank has merged with Indian Bank. Syndicate Bank has also merged with Canara Bank.
How to know new IFSC Code?
You can find out the new IFSC Code in several ways. You can either find it by visiting the official website of the bank and then visit the branch to know your new IFSC code. Apart from this, many banks have arranged to know the IFSC code through SMS, through which you can also find out the new code.
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