SBI Changes Bank Names, IFSC Codes of 1,300 Branches; Here’s How You Can Find Out Yours
New Delhi, December 11: Soon after the merger of its five associates, the country’s largest lender State Bank of India (SBI) has changed names and Indian Financial System Code (IFSC) codes of nearly 1,300 of its branches. These branches are located in major cities such as Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata and Lucknow, among others. SBI that has close to 23,000 branches has put up the list of branches with old and new names and IFSC codes on its website.
SBI’s managing director (retail and digital banking), Praveen Gupta was quoted saying, “Some of our old associate branches are getting merged with SBI branches. When that merger happens, the IFSC codes get changed”. Customers have been informed about the change in IFSC codes, but internally also the bank has mapped them to the new codes. “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,” he said.
What is IFSC Code?
The IFSC is an 11-digit alpha-numeric code is used to uniquely identify all bank branches participating in any Reserve Bank of India regulated funds transfer system. The IFSC code is required to transfer money from one account to another using RTGS, NEFT or IMPS methods.
Here’s how you can find yours:
- The SBI has changed the unique identifying codes for nearly 1,300 of its branches.
- These include branches located in major cities such as Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata and Lucknow, among others. Customers have been informed about the change in IFSC codes, but internally also the bank has mapped them to the new codes.
- To find out if you bank’s IFSC code is changed you can check this list on SBI website
- A customer can find out your bank IFSC code and other details you can go to the SBI Branch Locator web page
Here’s the Full List of Changed Bank Names and IFSC Codes:
To recall, the SBI in April this year merged its five associate banks – State Bank of Bikaner and Jaipur, State Bank of Patiala, State Bank of Travancore, State Bank of Hyderabad, State Bank of Mysore – and also Bhartiya Mahila Bank into itself.