This is very important news for you if you are a syndicate bank customer. Syndicate Bank’s IFSC code will change from next month. The change is being made as Syndicate Bank merges with Canara Bank. Customers now need to use the new IFSC code for NEFT, RTGS.
Responding to the change, Canara Bank said on its official website: ‘Since Syndicate Bank merged with Canara Bank, all IFSC codes starting with SYNB are being changed. All IFSC codes starting from SYNB will be deactivated by July 1. “Recent surrenders should use CNRB instead of the new IFSC code,” he said. Canara Bank has released a full list of new IFSC codes on its website. Syndicate Bank customers will also be given new checkbooks from July 1 to replace the old checkbooks.
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You can get the new IFSC code by visiting canarabank.com/IFSC.html or the Canarabank website. The bank has asked customers to update the new IFC code, otherwise the benefits of facilities such as NEFT / RTGS / IMPS will not be available from July 1.
Why IFSC code is changing
In August 2019, Finance Minister Nirmala Sitharaman had decided to merge 10 public banks. Now the IFSC code and MICR code of these banks will be changed.
