From 1 April 2021, many major changes are going to happen for 7 bank customers. These 7 banks have been merged with other banks, after which there have been changes in many information related to customers.
Many information about this is being given continuously by the banks.
From the beginning of the financial year 2021-22, crores of bank customers are going to be affected. The old checkbooks of 7 banks will now remain mere pieces of paper. It is important for the customers of these banks to apply for a new checkbook on time. These 7 banks are Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Oriental Bank of Commerce, United Bank of India and Allahabad Bank. Passbook and checkbook of customers of these banks will become useless from 1 April 2021.
Actually, these 7 banks have been merged with other banks. Dena and Vijaya Bank merged with Bank of Baroda. Oriental Bank of Commerce and United Bank of India have been merged with Punjab National Bank. While the merger of Corporation and Andhra Bank has been merged with Union Bank of India and Allahabad Bank in Indian Bank.
This important information will change for customers
The bank’s account numbers, IFSC, MICR, branch address, checkbook and passbook have been changed to those banks which have been merged with another bank. For this, continuous information is also being given to customers from banks.
PNB and Bank of Baroda are constantly giving necessary information to their customers regarding the merger. These banks have told customers through several platforms that their checkbook, passbook, MICR code, IFSC code etc. will be changed from April 1, 2021. This alert has been issued to the customers of Oriental Bank Commerce, U nited Bank of India, Vijaya Bank and Dena Bank. Similarly, necessary information is being given to customers of other banks that are merging.
Relief to Syndicate Bank customers
For the existing customers of Syndicate Bank, Canara Bank has already said that there will be no change in their MICR code, IFSC code, checkbook, passbook etc. till June 30, 2021. After this information given by Canara Bank, the customers of Syndicate Bank no longer need to worry.
What do you do as a customer?
If you are a customer of these banks, then you will have to give correct information about your mobile number, address, nominee etc. to the bank. With this, you will continue to get the necessary information from the banks. After getting the new checkbook and passbook, also update these essential information in the record of your second transaction. These financial instruments include your mutual funds, trading accounts, life insurance policy, income tax account, FD / RD, PF account etc.
Also read: All these rules will change from April 1, will affect your spending and savings