All IFSC codes, cheques of this financial institution will change into invalid from subsequent month

Canara Bank knowledgeable its prospects that the IFSC codes and cheque books of Syndicate Bank will change into invalid from subsequent month. The prospects of Syndicate Bank have been instructed to replace their Bank Branch’s IFSC code by 30 June.

Cheque books of Syndicate Bank will change into invalid

The current e-Syndicate Bank Cheque guide with previous MICR and IFSC can be legitimate as much as June 30, 2021, solely.

“Dear customer, replace e-syndicate cheque book and cheques issued to the third party as validity for presentation expires on 30.06.2021,” Canara Bank stated.

New IFSC codes

The new IFSC code will now begin with CNRB as a substitute of SYNB. One additionally wants so as to add 10000 to their current IFSC code quantity. The new IFSC codes could be obtained by visiting the next hyperlink – canarabank.com/IFSC.html – or by visiting any Canara Bank department.

Apart from this, the client care of Canara Bank can be contacted on 18004250018.

“All the IFSC starting with SYNB will be disabled W.E.F 01.07.2021,” Canara Bank stated.

“We request you to inform the remitters (senders) to use only your new IFSC code starting with “CNRB” while sending NEFT/RTGS/IMPS, from now itself,” the lender talked about on its web site.

Swift code to be discontinued

Canara Bank additionally introduced the discontinuation of the present swift code being utilized by the erstwhile Syndicate Bank prospects for international alternate transactions.

“Swift code of erstwhile Syndicate Bank (SYNBINBBXXX) which is used for sending or receiving SWIFT messages for foreign exchange transactions shall be discontinued effect from July 1, 2021. All our customers are advised to use the swift code (CNRBINBBFD) for any of their Foreign Exchange needs,” it stated.

As a part of a large amalgamation plan, Finance Minister Nirmala Sitharaman had introduced the merger of 10 public sector banks into 4 mega state-owned ones in 2019. In April final yr, Syndicate Bank was merged into Canara Bank. While the merger got here into impact in April 2020, the IFSC and MICR codes are updating from the beginning of Financial Year 2022, i.e. from April 1, 2021.

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