Cheque books, IFSC codes of 6 subsidiary banks invalid from Sept 30: SBI
The State Bank of India on Thursday notified its customers that cheque books and India Financial System (IFS) code of six of its subsidiary banks would be invalid from September 30 and asked them to submit new applications. These banks are — Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, State Bank of Hyderabad and Bhartiya Mahila Bank. Earlier in April, these banks had merged with SBI, which put SBI among the top 50 banks in the world, reported Money Control. The bank is also examining customer feedback over the charges for nonmaintenance of monthly balance in their accounts, reported Business Today.
Earlier in April, SBI had retrieved charges for non-maintenance of monthly average balance (MAB) after five years. "We have received feedback from our customers on the issue and we are reviewing those. The bank will take into account those and make an informed decision," Rajnish Kumar, the banks managing director (national banking group), told PTI.
Article source- BUSINESS STANDARD