Introduction to Vijaya Bank IFSC Code After Merger

Vijaya Bank, one of the prominent public sector banks in India, merged with Bank of Baroda (BoB) on April 1, 2019, along with Dena Bank. This merger led to the creation of the third-largest bank in India, with a combined business of over ₹18 lakh crore. As a result of this merger, the IFSC codes of Vijaya Bank have undergone significant changes. In this article, we will guide you through the process of finding your new IFSC code and updating your KYC details.

Understanding IFSC Codes

The Indian Financial System Code (IFSC) is a unique 11-character code assigned to each bank branch in India. It is used to facilitate electronic fund transfers, such as NEFT and RTGS. The IFSC code consists of three parts: the first four characters represent the bank code, the fifth character is a zero, and the last six characters represent the branch code.

Impact of Merger on IFSC Codes

After the merger, the old IFSC codes of Vijaya Bank are now inactive and will lead to transaction failures. It is essential to use the new IFSC codes to ensure seamless transactions. The new IFSC codes can be found using the IFSCTeam.com search tool. Simply enter the bank name, branch name, or location to find the new IFSC code.

Consequences of Using Old IFSC Codes

Using old IFSC codes can result in transaction failures, delayed payments, and additional charges. It is crucial to update your IFSC codes to avoid any inconvenience. Moreover, the Reserve Bank of India (RBI) has mandated the use of new IFSC codes for all electronic fund transfers.

How to Find New IFSC Codes

To find your new IFSC code, follow these steps:

  • Visit the IFSCTeam.com website
  • Enter the bank name, branch name, or location in the search bar
  • Click on the search button to find the new IFSC code
  • Verify the IFSC code with the bank's official website or customer care

Updating KYC and Checkbook Details

After the merger, it is essential to update your Know Your Customer (KYC) details and checkbook information to reflect the new IFSC code. Here's how:

  • Visit the bank's official website or mobile banking app
  • Login to your account using your credentials
  • Update your KYC details, including your address and contact information
  • Request a new checkbook with the updated IFSC code
  • Verify your account details and IFSC code with the bank's customer care