THIS Bank's cheque book, MICR code will stop working from October 1, have an account here?

New Delhi: Although customers of the erstwhile Allahabad Bank were allowed to continue to use their existing cheque book for six months or till it gets exhausted (whichever is earlier) since February this year, they must know the new rule which will come into effect from October 1,2021.

Enjoy smooth banking transactions without any glitch. The MICR code and cheque books of the erstwhile Allahabad Bank will be discontinued from 01.10.2021. Get new cheque books from your nearest branch or apply through internet banking/mobile banking.#IndianBank pic.twitter.com/xF1Rctppx2 — Indian Bank (@MyIndianBank) July 31, 2021

Allahabad Bank, one of the oldest public sector banks in the country, was merged with the Indian Bank on February 15. Post-merger, immediately thereafter, the Indian Bank carried out a software migration. In addition, changes were made in IFSC code, mobile banking app, cheque book and passbook of Allahabad Bank account holders which came into effect from February 15. 

In addition to the cheque book, ATMs will also be active for 6 months as before. Allahabad Bank customers can call customer care number 1800-425-0000 for more information. The bank has taken full care to avoid any inconvenience to the customers. Customers will be able to use http://indianbank.net.in for internet banking. The website will provide full knowledge of the new rules to the account holders and also know-how and where they can update the old bank-related papers.

It may be noted that Union Finance Minister Nirmala Sitharaman had announced the merger of several public sector banks in Union Budget 2020 in March last year. Ahead of the merger, the Indian Bank had announced a share swap ratio of 115 equity shares of Rs 10 each for every 1,000 shares of Rs 10 each of Allahabad Bank. As per the merger, Allahabad Bank was amalgamated into Indian Bank, along with nine other PSBs merged into four.