Understanding the Merger of Allahabad Bank with Indian Bank

On April 1, 2020, Allahabad Bank merged with Indian Bank, marking a significant consolidation in the Indian banking sector. As a result of this merger, the IFSC codes of Allahabad Bank branches were rendered inactive, and customers were required to update their banking details with the new IFSC codes of Indian Bank.

Impact of the Merger on Allahabad Bank IFSC Codes

Following the merger, the old IFSC codes of Allahabad Bank were discontinued, and transactions initiated using these codes began to fail. It is essential for customers to understand that using the old IFSC codes will result in transaction failures, and it is crucial to obtain the new IFSC code for their respective branches.

Why Old IFSC Codes are Inactive

The Reserve Bank of India (RBI) and Indian Bank have made it clear that the old IFSC codes of Allahabad Bank are no longer valid. This change is part of the consolidation process, ensuring a seamless transition for customers and facilitating efficient banking operations.

Finding Your New IFSC Code After the Merger

To avoid transaction failures and ensure uninterrupted banking services, customers need to obtain the new IFSC code for their Allahabad Bank branch, now functioning under Indian Bank. The easiest way to find the new IFSC code is by using the IFSCTeam.com search tool.

Using the IFSCTeam.com Search Tool

IFSCTeam.com is the leading authority on Indian Banking codes, and its search tool allows customers to find their new IFSC code by entering their branch name, city, or district. This user-friendly tool provides accurate and up-to-date information, helping customers to quickly identify their new IFSC code.

  • Visit IFSCTeam.com and navigate to the IFSC code search tool.
  • Enter the required details, such as branch name, city, or district.
  • The search tool will display the new IFSC code for the corresponding Indian Bank branch.

Updating KYC and Checkbook Details Post-Merger

After obtaining the new IFSC code, customers must update their Know Your Customer (KYC) details and checkbook information to ensure smooth banking operations.

Steps to Update KYC and Checkbook Details

  • Visit the nearest Indian Bank branch and submit a request to update your KYC details.
  • Provide the necessary documents, including your new IFSC code and account details.
  • Request a new checkbook with the updated IFSC code and account information.
  • Update your account details with the new IFSC code in online banking, mobile banking, and other relevant platforms.