Punjab National Bank (PNB) has issued an alert for its customers. The bank has said that the existing IFSC / MICR codes will be valid only till 31 March 2021. Customers will have to use the new IFSC / MICR code after 31 March. This information has been given by PNB via tweet. Explain that from 1 April 2020, the merger of Oriental Bank of Commerce and United Bank of India (United Bank of India, UBI) into PNB has come into effect.
After this merger, all branches of United Bank of India and Oriental Bank of Commerce are now functioning as branches of PNB. After the merger, PNB is now making changes to the IFSC and MICR codes. PNB has told customers that from 1 April 2021, they will have to use the new IFSC / MICR code to do Internet banking like NEFT, RTGS. Older code will not work.
New chequebook will also have to be taken
Punjab National Bank has also said in the tweet that the current checkbook of OBC, United Bank of India will also be valid only till 31 March 2021. From April 1, customers will have to use the new checkbook. Therefore, customers should take the new checkbook from the bank branches before 31 March. Also, replace the check for further date issued in your eOBC / eUNI account. However, checks already issued will be valid till 31 March 2021.
How to find IFSC and MICR codes
The IFSC code is 11 digits long. The initial four letters in the IFSC code indicate the bank’s name. The IFSC code is used during electronic payment. The IFSC Code can be found online. Apart from this, it is also present on bank passbook and chequebook. MICR code is 9 digits and remains on the chequebook.