New Delhi: This is very important news for Bank Customers. With effect from April 1, 2021, customers of these eight banks will get old checkbooks, passbooks, and Indian Financial Service Code (IFSC) invalid, meaning that from April 1, your old checkbook will be of no use. Payments will be stopped by the banks’ checks. In such a situation, if your bank account is also in these public banks, then change the checkbook in time. These eight banks are those which have recently been merged with other banks. The banking system will reject old checks from April 1, 2021, due to changes in account holders’ account numbers, IFSC and MICR codes due to the merger of banks. All the checkbooks of these banks will become invalid. Therefore, customers of all these banks have been advised to immediately visit their branch and apply for a new checkbook.
These banks have merged
The central government has merged several banks. Due to the increasing NPA burden of banks, the central government decided to merge the banks. Now after the merger, checkbooks, passbooks, IFSC codes, etc. of these banks are about to be changed. Now the customers of these banks will have to take a new checkbook from April 1, 2021, in any case. However, there has been some relief in the case of Syndicate and Canara Bank customers. The existing checkbooks of Syndicate Bank will be valid till 30 June 2021. After that the new checkbook will have to be taken, the banks whose old checkbooks will be invalidated from April 1. Among them are Dena Bank, Vijaya Bank, Oriental Bank of Commerce, United Bank of India, Syndicate Bank, Andhra Bank, Corporation Bank, and Allahabad Bank. After the merger of these banks, their old checkbooks will no longer run after March 31.
List of merged banks
- Dena Bank and Vijaya Bank were merged with Bank of Baroda. It has become effective from 1st April 2019.
- Oriental Bank of Commerce and United Bank of India (UBI) merged into Punjab National Bank (PNB).
- Syndicate Bank has been merged with Canara Bank.
- Andhra Bank and Corporation Bank have been merged with Union Bank of India.
- Allahabad Bank (Allahabad Bank) has been merged with Indian Bank. Please tell that all these have come into effect from 1 April 2020.
Why does the checkbook need
Explain that at the time of opening a Saving Account or Current Account in the bank, the bank gives the checkbook to the customers. With the help of this checkbook, customers can transact money. There is a lot of information on the checkbook or its leaf. IFSC is a magnetic ink character recognition (MICR) code. Today most of the work is done with the help of these codes. In the old checkbook you have, the old bank only has the IFSC and MICR codes. Which will change now. Please tell that if you apply for a checkbook now, you will get a new checkbook after 10 days.
