BackCheque book and passbook of these banks to become invalid from next month
The account holders of these banks will have to get a new cheque book and passbook as the previous ones will become invalid from 1 April 2021
PremiumFrom next month, the account numbers of the customers of eight banks, which were merged with other big lenders, will change. These banks are Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Syndicate Bank, Oriental Bank of Commerce, United Bank of India and Allahabad Bank. The account holders of these banks will have to get a new cheque book and passbook as the previous ones will become invalid from 1 April 2021.
Alerting their customers, Punjab National Bank (PNB) had already informed that the existing cheque books of Oriental Bank of Commerce (OBC) and United Bank of India will get discontinued from April 1, as they are valid only till March 31, 2021.
These account holders also need to know the new IFSC and MICR code.
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What are the account holders of these banks required to do?
If you are a customer of any of these banks, then you are required to update your details such as your mobile number, address, name of the nominee, etc. You have to get a new chequebook and passbook of the banks with which your old bank has been merged.
After getting the new chequebook, and passbook, you will have to update your banking details recorded in various financial instruments.
Merger of banks
Dena Bank and Vijaya Bank were merged with Bank of Baroda on 1 April 2019, while the amalgamation of the Oriental Bank of Commerce (OBC) and United Bank of India with Punjab National Bank came into effect last year (1 April 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.
In the biggest consolidation exercise in the banking space, the government in August 2019 had announced the merger of 10 public sector lenders into four bigger and stronger banks. With this, the number of public sector banks in India will come down to 12 from 27 in 2017.
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