Cheque Book, Passbook of these banks to Become Invalid from April 1. Here’s why

Cheque Book, Passbook of these banks to Become Invalid from April 1. Here’s why

The merger of Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Oriental Bank of Commerce, United Bank and Allahabad Bank came into effect on April 1, 2019, and April 1, 2020.

However, now the customers or account holders of the above-mentioned banks need to note that cheque-books and passbooks of these banks will become invalid from April 1, 2021. Talking about the mergers, Dena and Vijaya Bank were merged with Bank of Baroda with effect from April 1, 2019.

While, Oriental Bank of Commerce (OBC) and United Bank of India were 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.

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Alerting their customers, PNB and Bank of Baroda had already informed that the existing cheque books of OBC, United Bank of India, Vijaya Bank, and Dena Bank will get discontinued from April 1, as they are valid only till March 31, 2021.

Similarly, the account holders of other merged banks will also be able to use their existing cheque books and passbook only till March 31.

Customers of these banks should also know that their account number, IFSC, MICR code, branch address, cheque book, passbook will change. However, the existing cheque book and passbook of Syndicate Bank and Canara Bank will be valid till June 30, 2021.

To get all the important information and updates via SMS or email, customers of any of these banks will have to update the details like mobile number, address, nominee, etc.

Also, after getting the new cheque book and passbook, the bank account holders will have to update their new banking details in various financial instruments including mutual funds, trading accounts, life insurance policy, income tax account, FD / RD, PF account, and several other places where it is necessary to update the bank account details to avoid any kind of difficulties.

Source:-yahoo

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