IFSC Code changed from these state-run banks from today, if not done, the transaction will fail
new Delhi. This news is for the account holders of Oriental Bank of India, United Bank of India, Syndicate Bank, Andhra Bank, Corporation Bank and Allahabad Bank. In fact, the IFSC code of these banks has changed since today. In such a situation, the account holders of these banks will have to use the new code from today or else their transaction will fail. Let us tell you that in August 2019, Finance Minister Nirmala Sitharaman announced the merger of 10 government banks to form four banks. After which these banks merged from April 2020. Due to this, the IFSC codes and MICR codes of 6 banks merging into anchor banks from today will end and both the codes of anchor banks will be used.
Which banks were merged with which bank
PNB was merged with Bank of Commerce and UBI. Such votes will replace the IFSC code ICMR number of BOC and UBI with PNB. At the same time, Andhra Bank and Corporation Bank were merged with Union Bank of India. Indian Bank was merged with Allahabad Bank, whose IFSC code ICMR number will change from May 1. At the same time, Syndicate Bank was added to Canara. The change in IFSC code ICMR number will be from July 1. Before that Vijaya Bank and Dena Bank merged with Bank of Baroda. Those whose IFSC code ICMR number was changed in March.
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Banks gave information
Union Bank of India As per the existing IFSC codes of Andhra Bank and Corporation Bank will be changed from 1 April 2021. The IFSC code for Andhra Bank customers from April 1 will be UBINOB. The code for the customer of Corporation Bank will be from UBINO9.
PNB As per 31 March 2021, the account holders of the erstwhile Oriental Bank of Commerce and United Bank of India will have to use the new IFSC and MICR codes for NEFT and RTGS transfers.
Canara Bank Has informed on behalf of that after the merger of Syndicate Bank all the Syndicate IFSC codes starting from SYNB have been changed. All IFSC codes starting from SYNB will be disabled from 01.07.2021.
Bank of baroda Has informed on its website that Vijaya Bank and Dena Bank’s IFSC will be closed from 1 March 2021.