Mumbai, December 10: In a new move, the State Bank of India (SBI) has changed names and IFSC codes of nearly 1,300 of its branches post-merger of its five associates. The bank has close to 23,000 branches.
“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.