The IFSC codes of Oriental Bank of Commerce, United Bank of India, Syndicate Bank, Andhra Bank, Corporation Bank and Allahabad Bank will be effective from April 1 to April 1. Account holders of these banks now have to use the new IFC code.
In August 2019, Finance Minister Nirmala Sitharaman decided to merge 10 public banks. Now the IFSC code and MICR code of these banks will be changed.
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Merger of banks
Oriental Bank of Commerce and United Bank of India merged with Punjab National Bank. Syndicate Bank merged with Canara Bank, Andhra Bank and Corporation Bank Union Bank of India.
| Anchor Bank | The combined bank | When the IFSC code is changed |
| Punjab National Bank | Oriental Bank, United Bank of India | 1 April 2021 |
| Union Bank of India | Andhra Bank, Corporation Bank | 1 April 2021 |
| The Indian Bank | Allahabad Bank | 1 May 2021 |
| Bank of Canara | Syndicate Bank | 1 July 2021 |
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