IFSC Code: Many changes are going to happen in the banking sector of the country from July 1. This includes the increase in charges for some services of SBI and Axis Bank. Along with this, the IFSC Code of a bank merging with Canara Bank is also going to change.
Public sector Syndicate Bank has now merged with Canara Bank. In such a situation, from July 1, the old IFSC Code of Syndicate Bank will not be of any use. Instead, customers of Syndicate Bank will have to use the new IFSC Code of Canara Bank.
Where to get the new IFSC Code…?
Bank customers need more IFSC codes for NEFT, IMPS, RTGS, and other types of digital transactions. In such a situation, now the new IFSC Code has been fixed for the branches of Syndicate Bank, you can visit the Canara Bank website, Can be obtained from any Canara Bank branch, your old Syndicate Bank branch, or https://canarabank.com/ifsc.html.
The country’s largest bank SBI is going to set a new limit on cash withdrawal from July 1. Now SBI customers will be able to withdraw cash from the bank branch only 4 times from July 1. For cash withdrawal more than this, customers will be charged Rs 15. GST will be charged separately on this.
The above mentioned rules of cash withdrawal of SBI will also be applicable for transactions done from ATMs. In such a situation, for withdrawing cash from ATM more than 4 times, the customer will have to pay a charge of Rs 15 and GST separately.
Also, Read This: PF Account: If Your Account is in Merged Banks, Then There will be Problem in Withdrawing PF money
Not only this, SBI has also changed the rules related to check books for its Basic Savings Bank Deposit (BSBD) accounts. From July 1, such account holders will get only 10 checks free of cost in a financial year. After this, customers will have to pay Rs 40 for the next 10 checks and Rs 75 for 25 checks. In this also, GST will be charged separately. If the customer takes a 10 leaf check book in an emergency, then he will have to pay Rs 50 plus GST. For senior citizens, the old rules will remain valid.
Where the rules related to checkbook are changing in SBI. At the same time, customers of Andhra Bank and Corporation Bank will be given a new checkbook. These two banks have merged with Bank of India. That’s why their old checkbooks have become invalid. Customers have been asked to issue a new check book.
If you are a private sector Axis Bank customer and you want SMS alerts on your phone, then your pocket is going to be a little loose from July 1. If you are a private sector Axis Bank customer and you want SMS alerts on your phone, then your pocket is going to be a little loose from July 1.
