Indian-Allahabad Bank Merger; Know Post-Merger Details

Indian Bank has announced that it has successfully completed the process of technical migration of the former Allahabad Bank software with the Indian Bank CBS/ITMS software in a regulatory filing.

Indian Bank took Twitter to make the announcement. "We request you to kindly make a note of the important changes effective from 15th February 2021. Help us to serve you better", it said.

In March last year, Union Finance Minister Nirmala Sitharaman had announced the merger of several public sector banks in Union Budget 2020.

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Customers should note that there are several changes made with respect to banking facilities.

Changes are related to the IFSC code, mobile banking app, cheque book, and passbook of Allahabad Bank account holders which came into effect from Monday (February 15).

Here are the new rules both the bank customers should know:

IFSC codes

Allahabad customers should use only Indian Bank's IFSC codes starting with 'IDIB..' from February 15 onwards for remittances (RTGS, NEFT, IMPS).

To know more, one can contact the bank via an SMS can be sent to 92668 01962 from the registered mobile number in the format IFSC (Eg. IFSC ALLA0210999).

Net banking services

Customers who want to avail themselves of internet banking services have to log on to https://indianbank.net.in with their existing log-in credentials.

Mobile Banking

For mobile banking services, customers should install the IndOASIS app on their phones. The app is out there on Google play store and IOS.

Cheque book

Customers are allowed to use their existing chequebooks until they are over or for another six months, whichever is earlier. However, new Indian Bank passbooks will be issued after 15 February. Customers must obtain a new bank passbook from their home branch.

Customers should note that the bank has taken full care to ensure that there are no problems for customers in obtaining the services from the bank. Account-holders will be provided with complete information on the new rules via the http://indianbank.net.in website.

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