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IFSC codes of erstwhile Syndicate bank branches to change from July 1

Customers have to use the new CANARA IFSC for receiving funds through NEFT/RTGS/IMPS ....

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Customers irked by service issues in merged public sector banks

Customers irked by service issues in merged public sector banks
April 02, 2021
Fear break in receipts, payments as they have not been able to update IFSC Codes or issue new MICR cheques
Customers of public sector banks that got merged with larger peers fear either missing out on dividend payments or facing cheque-bounce charges on post-dated instruments as they have not been able to intimate companies and lenders about the changed IFSC Code of their branches or issue new MICR cheques before the March 31, 2021 deadline.
They want this deadline extended as updating the new Indian Financial System Code in all the mandates given by them and notifying the remitters (of dividend on shares and interest on bonds) and replacing old post-dated MICR cheques given to lenders with new ones will take time. ....

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