Does IFSC code change after merger?

Dear Customer,
This is to inform that after merger of Syndicate Bank with Canara Bank, all eSyndicate IFSC codes starting with SYNB have been changed.
All the IFSC starting with SYNB will be disabled W.E.F 01.07.2021.

We request you to inform the remitters (senders) to use only your new IFSC code starting with "CNRB" while sending NEFT/RTGS/IMPS, from now itself.
Please visit our Website : Click Here for Canara Bank Website! or contact any Canara Bank branch.


Please enter your old IFSC below to get the corresponding new IFSC or contact your branch: Click here to Get new IFSC
Branch Name:

The IFSC codes for erstwhile Syndicate Bank customers will be changed from July 1 this year. The bank was merged with Canara Bank in April 2020 as part of a slew of bank mergers undertaken by the central government.

The move means that Syndicate Bank customers will have to use their new IFSC codes for online transactions through NEFT, RTGS or IMPS routes.

"This is to inform that after merger of Syndicate Bank with Canara Bank, all eSyndicate IFSC codes starting with SYNB have been changed. All the IFSC starting with SYNB will be disabled with effect from July 1, 2021," Canara Bank said on its website. "We request you to inform the remitters (senders) to use only your new IFSC code starting with "CNRB" while sending NEFT/RTGS/IMPS, from now itself."

Canara Bank has released a list of the new IFSC codes on its official website that Syndicate Bank customers will need to use from now, as per their corresponding old codes. They can also use the dedicated tool on Canara Bank's website to check their new IFSC codes.

Customers of Syndicate Bank will also have to get fresh cheque books with their new IFSC and MICR codes too. Moreover, the Swift code of erstwhile Syndicate Bank (SYNBINBBXXX) will also be discontinued from July 1, 2021. SWIFT codes are used for sending or receiving SWIFT messages for the purpose of Foreign Exchange transactions. Canara Bank has asked customers to use the swift code (CNRBINBBFD) for any of their Foreign Exchange transactions.

IFSC or Indian Financial System Code is an unique, eleven-character alpha-numeric code used to identify bank branches for NEFT, RTGS or IMPS transactions. The first four characters are letters representing the bank, the fifth character is a zero, and the last six characters are numbers representing the branch.

In 2019, Finance Minister Nirmala Sitharaman had announced mergers of 10 public sector banks to create four mega lenders of global capacity. These mergers came into effect on April 1, 2021. The merger of Syndicate Bank in Canara Bank was part of this consolidate drive. Canara Bank became the fourth-largest bank in the nation following the merger.

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Recently, social media was abuzz with reports that Bank of Maharashtra was going to merge 51 of its branches with other branches. The message was accompanied by a newspaper clipping of a notice published by the bank. As it turned out, the branches are not going to be merged as of now but have already been merged in financial year 2017-18.

The notice was issued to customers of these 51 branches to deposit their older cheque books at their new branches and collect new ones. The notice highlighted that customers should use IFSC codes of the new branches allotted to them. The bank will allow the use of the older IFSC and MICR codes till 31 December 2018, after which customers will have to use the new codes for transactions to be valid.

There could be multiple reasons for a branch to be merged with other branches. Bank of Maharashtra said it merged multiple branches in the same vicinity as they were showing operating losses or had low business potential. 

If your bank branch gets merged with another branch, here is what you need to know. 

IFSC code: Each bank branch has its unique IFSC code. This alpha-numeric code is used as an identifier for a transaction, along with an account number. While an individual’s account number does not change when bank branches are merged, IFSC codes of the merged branch ceases to exist after some time. In that case, the customers have to use the IFSC code of the new branch where the older branch has got merged. The bank typically communicates this to its customers.

Remember to change your bank mandates you may have submitted for all your credit or debit transactions such as receiving dividend payment in your account or paying up your loan EMIs.

Cheque book: A cheque leaf has details like bank account number, IFSC code, MICR code and branch name printed on it. Accordingly, when a branch is merged, you need to get an updated cheque book from the bank. 

Lockers: Banks try to contact customers to inform about the change, said public sector bankers. Customers are advised to remove their valuables from the lockers temporarily, and are offered locker services at the new branch again. 

For customers who are unable to empty out their lockers at the old branch due to non-availability, banks move the lockers in a police escort to the new branch. The same procedure is followed even when a branch is being moved to a new address. Customers need to then get in touch with the bank to find out the new address and other details. Customers are not charged in the process.

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How do I know my IFSC code is changed?

Where can I search for IFSC Code?.
You can search for the IFSC code on the cheque and passbook provided by the bank..
By visiting website of the respective bank..
Search for IFSC code at RBI's website..
Find IFSC code easily at MyLoanCare website. Select Bank, State, District and then branch..

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On account of the amalgamation of Allahabad Bank into Indian Bank the data bases of both the Banks are slated for merger on 13th and 14th February 2021. Hence, the Branch Codes, MICR Codes and Indian Financial Standards codes (IFSC) of erstwhile Allahabad Bank would be undergoing a change.

Is IFSC code is same for every bank account?

The IFSC Code is an 11-digit alpha-numeric code that facilitates the online transfer of funds between accounts. The code is unique for every branch of the bank.

Is IFSC code changed for SBI bank?

A total of 1,295 branches have been changed across the country as per the SBI list enlisting the old and new IFSC codes after rationalisation/merger with associate banks and BMB, as per the list on its website. ... SBI changes names, IFSC codes of 1,300 branches..