The 2021-22 fiscal year is set to begin on April 1st. So along with various financial transactions, bank transactions are also going to change.
These changes will affect the users of the respective bank. It is learned that the central government has merged some of the banks into the state-owned banks as per RBI directives.
The merged banks include Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Oriental Bank of Commerce, United Bank, and Allahabad Bank. The passbooks and chequebooks of those banks will not be valid from April 1.
The respective banks informed that the passbook, chequebook, MICR code, IFSC code, etc. will not be valid from April 1, 2021, as the banking credentials of the old banks will be valid only till March 31, 2021.
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