Associate Banks of State Bank of India need to update their cheque books, which will have the new IFSC, by 31st March 2018. Customers of SBI associate banks and Bharatiya Mahila Bank need to make an application of the new cheque book before the deadline.
SBI tweeted earlier that old cheque books will no longer be valid after 31st March 2018. To avoid any inconvenience, customers are advised to apply for new cheque books. Customers can either visit a bank branch, an ATM or use the SBI mobile app to procure a new cheque book.
Accountholders of the following banks need to replace their chequebooks: State Bank of Mysore, State Bank of Patiala, State Bank of Hyderabad, State Bank of Raipur, State Bank of Travancore, State Bank of Bikaner and Jaipur and Bharatiya Mahila Bank.
After the merger of all associate State Banks with the State Bank of India, the IFSC of these banks needed to be changed. The IFSC (Indian Financial System Code) is an 11-digit alphanumeric code that is unique to each bank branch and is used to identify the correct branch during any fund transfer regulated by the RBI such as IMPS or NEFT.
State Bank of India changed the branch name, branch code and IFSC of many of the banks across major cities. These cities include New Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Patna, Kolkata, Bhopal, Ahmedabad, Chandigarh, Amravati, Lucknow, Jaipur, and Thiruvananthapuram.