These banks have changed their IFSC codes, update details to transact online
If you’re having trouble transacting online or banking online, this news is for you. Recently, due to the merger of several public sector banks, banks will have to obtain new IFSC (Indian Financial System Codes) in accordance with post-merger regulations. If your bank is one of those listed in the mergers, the old IFSC codes will no longer be valid for online transactions via NEFT, RTGS or IMPS routes.
Syndicate Bank, Allahabad Bank, Dena Bank, United Bank of India, Vijaya Bank, Oriental Bank of Commerce, Andhra Bank and Corporation Bank are the banks whose merger has been announced. Account holders of these will have to update their IFSC codes with the bank or the online web portal to continue with online and net banking transactions.
How to change the IFSC of your bank branch: To change the IFSC code and get a new one, you must go to the bank’s official website and register for the new IFSC code by filling in your details such as name, number bank account, etc. In case someone has any further questions, they can always call the bank on their toll free number. The same rules apply to telephone banking. Failure to make these changes would result in the non-conduct of monetary transactions.
Finance Minister Nirmala Sitharaman announced the merger of ten public banks into four in August 2019.