Have an account with these banks? Your cheque books, IFSC codes will soon be invalid

First Published 22, Sep 2017, 3:18 PM IST
Have an account with these banks Your cheque books IFSC codes will soon be invalid
Highlights
  • Account holders in State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, State Bank of Hyderabad and Bharatiya Mahila Bank will have to apply for fresh cheque books.
  • Taking resort of the social media platform Twitter, the bank informed customers that they can avail of new cheque books through the Internet and mobile banking.
  • As far as maintaining minimum balance in accounts goes, SBI said that the charges of non-maintenance of monthly average balance does not apply to all its bank accounts.

In a recent notification by the SBI, it has been said that customers of its subsidiary banks need to apply for new cheque books and IFSC codes ASAP. Account holders in State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, State Bank of Hyderabad and Bharatiya Mahila Bank will have to apply for fresh books as soon as possible since the cheque books they have been issued will become invalid after September 30.

Taking resort of the social media platform Twitter, the bank informed customers that they can avail of new cheque books through the Internet and mobile banking, ATMs or by visiting the home branch. As far as maintaining minimum balance in accounts goes, SBI said that the charges of non-maintenance of monthly average balance does not apply to all its bank accounts. For instance, corporate salary accounts, those opened under the Pradhan Mantri Jan Dhan Yojna and small and basic bank deposit accounts are exempted from the minimum balance norm.

Earlier on April 1, SBI's associated banks State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore and State Bank of Travancore, besides Bharatiya Mahila Bank merged with the SBI. 
 

loader