Syndicate Bank logo illustration
Canara Bank educated its clients that the IFSC codes of Syndicate Bank will be impaired on July 1, 2021. The clients of Syndicate Bank have been advised to refresh their Bank Branch's IFSC code by June 30.
"This is to inform that after the merger of Syndicate Bank with Canara Bank, all syndicate IFSC codes starting with SYNB have been changed. All the IFSC starting with SYNB will be disabled W.E.F 01.07.2021," Canara Bank said.
"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," the lender mentioned on its website.
As a feature of an enormous combination plan, Finance Minister Nirmala Sitharaman had declared the consolidation of 10 public area banks into four super state-possessed ones out of 2019.
While the consolidation happened in April 2020, the IFSC and MICR codes are refreshing from the beginning of Financial Year 2022, for example, from April 1, 2021.
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