After the merging of their associates, SBI changes IFSC code and names of around 1,300 of its branches. From 1st April 2018, SBI merged their five associate bank- Bharatiya Mahila Bank, State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore and State Bank of Bikaner and Jaipur with itself. The IFSC code is very important and is required to transfer money from one account to another using IMPS RTGS or NEFT methods.
SBI, the India's largest lender who has changed IFSC code of their branches located in the major cities such as Bengaluru, Chennai, Mumbai, New Delhi, Hyderabad, Lucknow and Kolkata, among others.
The bank's Retail and Digital Banking Managing Director, Praveen Gupta said, "Some of our old associate branches are getting merged with SBI branches. When that merger happens, the IFSC codes get changed."
He said, “customers have been informed about the change in IFSC codes, but internally also the bank has mapped them to the new codes.”
He also said, “"Even if some payment comes based on the old IFSC codes, it will get mapped with the new codes. It will not cause any problem to any customer.”
 |
| State Bank of India: Source |
The bank's Retail and Digital Banking Managing Director, Praveen Gupta said, "Some of our old associate branches are getting merged with SBI branches. When that merger happens, the IFSC codes get changed."
He said, “customers have been informed about the change in IFSC codes, but internally also the bank has mapped them to the new codes.”
He also said, “"Even if some payment comes based on the old IFSC codes, it will get mapped with the new codes. It will not cause any problem to any customer.”
Comments
Post a Comment