SBI to scrap cheque books of associate banks by 31 December
27 Dec 2017
State Bank of India (SBI) will stop accepting cheques of account holders of its associate banks, including State Bank of Patiala, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, and State Bank of Hyderabad as well as Bharatiya Mahila Bank beginning the New Year.
Customers of all these banks will have to obtain fresh cheque books from their respective banks with changed IFSC code.
The cheque books issued by these banks prior to their merger with SBI were supposed to have been invalid post merger - after 30 September as provided earlier. However, SBI later extended the due date for availing new cheque books of the former associates till 31 December 2017.
To apply for the new cheque books, customers can visit the nearest SBI bank branch or use the ATM or bank's mobile app.
However, the website address for availing net banking services post-merger will be: https://www.onlinesbi.com.
An account holder of an associate bank need not register afresh. They can log in using username and login password for the website.
Post merger, SBI has changed names and IFSC codes of nearly 1,300 of its branches located in major cities such as Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata and Lucknow, among others.
Indian Financial System Code, or IFSC, is an 11-digit alpha-numeric code used to uniquely identify all bank branches participating in any RBI regulated funds transfer system.
The IFSC code is required to transfer money from one account to another using RTGS, NEFT or IMPS methods.
