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Public sector banks have witnessed a massive transformation in the recent years. There is a strong industry trend that is encouraging the weaker banks to merge with the stalwarts. If you’re an existing customer of any bank that will merge with a stronger counterpart, you need to get your documents changed since those will soon stand invalid. As of now, the customers of erstwhile Allahabad Bank, Oriental Bank of Commerce (OBC) and United Bank of India (UBI) must revisit their bank documents as a big amalgamation is in the pipeline from October 1, 2021.
Allahabad Bank has been merged into Indian Bank while Oriental Bank of Commerce and United Bank of India have been amalgamated into Punjab National Bank (PNB). The principal requirement of customers will now be for a new chequebook as the existing ones won’t be in use anymore. In this context, Indian Bank advised the incoming Allahabad Bank customers to apply for fresh chequebooks via net banking, mobile banking or a visit to the nearest bank branch.
Erstwhile Allahabad Bank customers can continue to enjoy a seamless banking experience with Indian Bank by ordering new cheque books as the old ones will no longer be acceptable w.e.f 1st October, 2021.#IndianBank pic.twitter.com/LUPHSrV84d
— Indian Bank (@MyIndianBank) September 14, 2021
Similarly, PNB also advised Oriental Bank of Commerce and United Bank of India customers to get a new cheque book immediately.
“Old cheque book of eOBC and eUNI are going to be discontinued from 01-10-2021. Please replace your old cheque book of eOBC and eUNI with PNB cheque book with updated PNB IFSC and MICR. Get your new cheque book your branch or apply through ATM/IBS/PNB one,” the bank tweeted.
Take note & apply for your new cheque book through👇
➡️ ATM
➡️ Internet Banking
➡️ PNB One
➡️ Branch pic.twitter.com/OEmRM1x6j0— Punjab National Bank (@pnbindia) September 8, 2021
PNB reminded it’s customers to use the new PNB cheque books with updated IFSC and MICR hereon to avoid any transactional inconvenience. Besides, the bank also sent multiple SMS to the customers to collect the new cheque book as soon as possible from the branch itself. One can even contact PNB’s toll-free number 1800-180-2222 for any assistance or query regarding the new cheque book or related issues.
While Allahabad Bank merged with Indian Bank on April 1, 2020, Oriental Bank of Commerce (OBC) and United Bank of India were amalgamated into Punjab National Bank (PNB) on April 1, 2019. Starting October 1, only new cheque books will be brought in use for any banking purposes vis-a-vis the respective banks.
Notably, four other banks were also merged into other banks under the Centre’s mega bank amalgamation plan. Syndicate Bank was combined with Canara Bank while Andhra Bank and Corporation Bank witnessed a merger with Union Bank of India.