SBI Changed 1300 Branch Names & IFSC Codes: State Bank of India (SBI) has recently changed the names of 1300 branches and their IFSC codes after the merger/ rationalization with associate banks. The SBI branch names and IFSC codes of various branches in the cities Hyderabad, New Delhi, Bengaluru, Mumbai, Chennai, Kolkata and Lucknow and other cities. SBI clients can check the new SBI branch names along with IFSC codes from the SBI official website, sbi.co.in. Also here I have enclosed the SBI List of branches with SBI OLD and NEW IFSC codes after Rationalization/Merger PDF at below. Just click the link to check SBI New branch names along with IFSC codes.
SBI Changed 1300 Branch Names & IFSC Codes After Rationalization
State Bank of India is one of the largest banks in India that has been widely spread across the nation. The SBI is having 23,000 branches across India. Apart from Indian branches. SBI is also having branches across the Globe in many countries.
The SBI merged five of its associate banks – State Bank of Hyderabad, State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Travancore, and State Bank of Mysore – and Bharatiya Mahila Bank from April 1 this year. While, as a result of rationalization the SBI has changed the branch names as well as IFSC codes.
The Indian Financial System Code (IFSC) is the 11-digit alpha-numeric code used to uniquely identify all bank branches contributing to any Reserve Bank of India regulated funds transfer system. IFSC Code especially useful to carry out various bank operations such as NEFT, RTGS, or IMPS methods. Hence the SBI Bank Account holders can check the SBI New Branch Names and IFSC Codes PDF enclosed here.
“Some of our old associate branches are getting merged with SBI branches. When that merger happens, the IFSC codes get changed,” the bank’s managing director (retail and digital banking), Praveen Gupta, said. He said customers have been informed about the change in IFSC codes, but internally also the bank has mapped them to the new codes. “Even if some payment comes based on the old IFSC codes, it will get mapped with the new codes. It will not cause any problem to any customer,” he said.