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Customers of Newly Merged State Banks – Change your Cheque Books.

SBI has requested all the customers of the newly merged State Banks and Bharat Mahila Bank to apply for new SBI cheque books as after 30th September, the IFSC Codes of these Banks will be nullified and new SBI IFSC Codes will be issued.

To apply for a new cheque book, visit the bank branch or you can also apply through Internet banking, Mobile banking or ATM.

According to sources

this will create a banking behemoth with Rs 37 lakh crore in asset base, 22,500 branches, 58,000 ATMs and 50 crore customers, the transition from the individual associate banks to SBI might not be pain-free for customers

The other five associate banks which are

  • State Bank of Hyderabad
  • State Bank of Travancore
  • State Bank of Bikaner & Jaipur
  • State Bank of Mysore
  • State Bank of Patiala

will face difficulties accessing online banking on their banks.

Therefore, customers belong to these banks will have to use SBIs online banking services.

However, the old username and password will remain same till the customer subscribes to SBIs online banking.

Also, as these banks will be merged with the SBI bank, RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer) charges will be same as SBIs charges.

While IFSC will remain same for now, they will be changed after 30th Sep, 2017

Along with Bhartiya Mahila Bank, all the other five associates will also be issued with new cheque books and passbooks.

The process of the coalition will be indeed inconvenient to all the customers as 1, 500 to 1, 600 branches will be closed once the amalgamation is done.

As mandated by the Government it is necessary to link Aadhaar with the Bank Account. Visit here to know the linking procedure of SBI and Other Banks.

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