Find if IFSC code of your SBI branch has changed
Bhubaneswar/Mumbai: The IFSC codes of nearly 1300 branches of State Bank of India has been changes following the merger of its five associates – State Bank of Bikaner and Jaipur, State Bank of Patiala, State Bank of Travancore, State Bank of Hyderabad and State Bank of Mysore – into itself.
SBI’s managing director (retail and digital banking) Praveen Gupta had informed the change in the IFSC codes is a part of the merger and the customers have been informed about the change.
He further said that the existing customers will not face any problem due to the change as the old codes have been merged with the new one. Payment transferred on the old codes will automatically get diverted to the customer’s account.
The bank has put up the list of branches with old and new names and IFSC codes on its website.
IFSC or Indian Financial System Code is an 11-digit alpha-numeric code used to uniquely identify all bank branches participating in any RBI regulated funds transfer system. It is mandatory for transfer of money from one account to another using RTGS, NEFT or IMPS.
SBI had merged its five associate banks and Bhartiya Mahila Bank into it in April this year.