Market Updates
The Mega Merger: Finding Your New IFSC Identity.
By IFSCTeam Editorial
Updated May 2024
The landscape of Indian banking has changed dramatically with several mega-mergers. While these mergers strengthen the financial sector, they often lead to changes in your branch's **IFSC Code**.
Why do IFSC Codes Change?
When a bank (like United Bank of India) merges into a larger entity (like Punjab National Bank), the IT systems are unified. To avoid overlap and ensure smooth routing, the RBI assigns new IFSC codes under the parent bank's prefix.
Key Mergers to Remember
- SBI Merger: State Bank of Bikaner and Jaipur, Hyderabad, Mysore, Patiala, and Travancore merged into SBI.
- PNB Merger: Oriental Bank of Commerce (OBC) and United Bank of India merged into PNB.
- BoB Merger: Vijaya Bank and Dena Bank merged into Bank of Baroda.
- Canara Merger: Syndicate Bank merged into Canara Bank.
How to find your new code?
Most banks issue new cheque books and notify customers via SMS. However, the easiest way is to use our **IFSC Search Tool**. Simply search for your old branch name, and we provide the most updated, verified code in our database.