State Bank of Travancore at Thiruvananthapuram. File photo: OnmanoramaThiruvananthapuram: If you had an account with the erstwhile State Bank of Travancore, take note. As many as 1,200 branches have been assigned new IFS (Indian Financial System) codes after they were merged into the State Bank of India.
The account holders can continue using the old codes until June 30 but it is better to switch to the new codes as early as possible, the SBI has advised. The SBI finished merging the data of the SBT last year.
Are you a confused SBT customer? Please read on
IFS codes are crucial in online banking. The unique alphanumerical code assigned to each branch is a must to link your account for receiving subsidies or scholarships or even receiving salary and pension in your account.
IFS code consists of four English letters and seven numbers. The first part of the former SBT IFS codes will be changed from ‘SBTR’ to ‘SBIN’. The third number will be changed to 7.
For instance, an account with the SBT Shanti Nagar branch in Thiruvananthapuram will have its IFS code changed from SBTR0000263 to SBIN0070263.
The MICR codes used in clearing cheques will also be changed.
The SBT branches which have merged into the SBI have been issued passbooks and cheque books printed with the new IFS code. The bank has not given clear instructions to account holders whether to change the codes of the accounts they have linked online for fund transfer.
