Come April 1, the account numbers of the customers of eight banks, which were merged with other big lenders in the last two years, will change, while their cheque books and passbooks will become invalid. These banks are Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Syndicate Bank, Oriental Bank of Commerce, United Bank of India and Allahabad Bank.
Along with the cheque books, the IFSC and MICR code, besides branch address of such banks — whose mergers with other big lenders came into effect from April 1, 2019, and April 1, 2020 — will change.
What are customers required to do?
If you are a customer of any of these banks, then update details such as your mobile number, address, name of nominee, etc. You have to get new cheque book and passbook of the banks with which your old bank has been merged. Keep your old passbook and cheque book handy.
After getting the new cheque book, and passbook, you will have to update your banking details recorded in various financial instruments — mutual funds, trading accounts, life insurance policy, income tax account, Fixed Deposit/Recurring Deposit, Provident Fund account — and other necessary places as well to update the bank account.
If you have an account with Syndicate Bank, you can use your existing cheque book till June 30.
The merger process
Dena Bank and Vijaya Bank were merged with Bank of Baroda on April 1, 2019, while the amalgamation of the Oriental Bank of Commerce (OBC) and United Bank of India with Punjab National Bank came into effect from April 1, 2020.
Besides, Syndicate Bank has been merged with Canara Bank, Andhra Bank and Corporation Bank merged with Union Bank of India, while Allahabad Bank has been merged with Indian Bank.
The Punjab National Bank and Bank of Baroda have already stated that the existing cheque books of OBC, United Bank of India, Vijaya Bank, and Dena Bank will be valid only till March 31, 2021.
Customers will be issued new cheque books, and passbooks, which will be valid from April 1.
(Edited by : Jomy)
First Published: Mar 13, 2021 5:15 PM IST
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