If your bank is getting merged there are many things you need to be aware of to save smooth functioning from April 1.
First change:
Account number, IFSC, MICR code, branch address, cheque-book, passbooks will also undergo a change to represent the new entity.
Passbook and chequebooks:
Punjab National Bank and Bank of Baroda have already stated that the existing cheque-books of OBC, United Bank of India, Vijaya Bank, and Dena Bank will be valid only till March 31, 2021.
In case have an account with Syndicate Bank, you can use your existing cheque book till June 30.
So basically you have to get new cheque book and passbook of the banks with which your old bank has been merged. But do keep your old passbook and cheque book for record purposes.
Also remember to update your mutual funds, trading accounts, life insurance policy, income tax account, Fixed Deposit/Recurring Deposit, Provident Fund accounts with the details of the new merged account as well.
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