Passbook, Chequebook of these banks to become invalid

The merger of public sector lenders into four larger and stronger banks was announced by the government in August 2019. Under which the Oriental Bank of Commerce (OBC) and United Bank of India was merged with Punjab National Bank (PNB), followed by Syndicate Bank merger with Canara Bank, Andhra Bank, and Corporation Bank merger with Union Bank of India, and Allahabad Bank merger with Indian Bank.

If your account is in these 8 government banks, then before April 1, 2021, you must visit your branches once. The account holders of these eight banks are required to update their account details such as mobile number, address, name of the nominee, etc. so that there is no further trouble and you will get the necessary information through SMS or email.  The account holders of these banks should also find out the IFSC and MICR codes.

The customer should get a new cheque book and passbook issued from the bank with which their former banks had merged. After getting the new cheque book and passbook, account holders should update their banking details on the various financial instruments, such as mutual funds, trading accounts, life insurance policy, income tax account, FD / RD, PF account, and many other places where it is necessary to update the bank account.

In the case of Syndicate Bank, Canara Bank has already stated that the existing cheque-books of the Syndicate Bank account holders will be valid till June 30, 2021.

 

List of banks:

u  Dena Bank

u  Vijaya Bank

u  Corporation Bank

u  Andhra Bank

u  Oriental Bank of Commerce

u  United Bank of India

u  Allahabad Bank

u  Syndicate Bank

 

Note: When you open a savings account or current account in a bank, the bank gives you a cheque book. With the help of this cheque book, customers can transact money. So, the account holders should get the new passbook and cheque book from the bank before the last date.