As per the latest update, IFSC Codes of the amalgamated bank i.e. Syndicate Bank is going to be changed with effect from 1st July 2021. Nirmala Sitharaman, the Finance Minister of India, announced the consolidation of Syndicate Bank with Canara Bank in April 2019 which came into effect in 2020.
The Reserve Bank of India had earlier permitted Syndicate Bank to allow its customers to use their chequebooks till 30th June as well.
How to Get your Canara Bank IFSC Code
Follow the steps mentioned below to know your Canara Bank IFSC Code:
Step 1: Visit Canara Bank official website
Step 2: Go to the home page and click on ‘What’s New’ option
Step 3: Click on the ‘Kind Attention eSyndicate Customers: Know Your New IFSC ‘ option
Step 4: You will be redirected to a new page. Enter your old IFSC Code to get the corresponding new IFSC Code
Note: You can also visit the nearest bank branch or call on the customer care number at 18004250018.
What is an IFSC Code?
Indian Financial System Code (IFSC) refers to an 11-digit alphanumeric code that uniquely identifies all banks and their respective branches required for transferring online funds. RBI assigns the IFSC Code to each bank branch as online transfer of money cannot be initiated without IFSC Code in case of transferring money through NEFT, RTGS, and IMPS.