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UBI update on change in IFSC code for merged banks
March 06, 2021
 
 
Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile (e)-Andhra Bank and e-Corporation Bank branches will change with effect from April 1, 2021.
Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes, UBI said in a statement.
The Indian Financial System Code (IFSC) is used to identify a participating bank branch in the National Electronic Funds Transfer (NEFT) Structured Financial Messaging Solution (SFMS) message. Magnetic Ink Character Recognition (MICR) Code is used for cheque processing.
The old IFSC codes of branches of these erstwhile banks will not be valid from April 1, 2021. Andhra Bank and Corporation Bank were amalgamated with UBI with effect from April 1, 2020. The IT integration of both the banks has been completed without changing the Account number of customers. ....

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