All of you are aware that India's largest public sector bank, State Bank of India has now merged five of its associate banks to its crown on 1st April 2017. State Bank of Travancore (SBT) is one among them. The customers who has idea about IFS (Indian Financial System) code knows that its very vital for online banking and other services. Almost 1200 SBT bank branches have assigned new IFSC code. So now arises queries and confusion for the erstwhile SBT account holders. The main doubt which arises in the mind of every SBT customers who are doing online transaction is the validity of their IFSC code once SBT is merged to SBI. Many of them have question in their mind like,
- How to find the news IFSC code for SBT account merged to SBI?
- Till which date I can use my old SBT IFSC code for online transaction?
If this is your question, then don't worry gentlemen as this article will be providing you the exact procedure to find your new IFSC code.
Procedure to get new IFSC code for SBI from erstwhile SBT account holders
As you are all aware, your SBT IFSC code has 2 parts. First part consists of 4 letter alphabets and second part consist of numbers. Say for example SBTR0000821. The changing procedure can be done in just 2 steps.
- Step 1 - Change the 3rd and 4th alphabet of your SBT IFSC code. That is, your IFSC code will start with 'SBTR' then change that to SBIN.
- Step 2 - Change the 3rd number of your IFSC code second part to 7.
Say for example, your previous SBT IFSC code for your Eranhipalam bank branch was SBTR0000760, now the new IFSC code for SBI Eranhipalam bank branch will be SBIN0070760.
Validity of your SBT IFSC Code for online transaction
For online transactions, SBI has not yet mentioned the effect of IFSC code change. However, IFSC code change will be applicable to offline bank accounts from 1st July 2017. You can contact respective branches for queries regarding IFSC code affecting online transaction. MICR code are also likely to be changed.
