Bank Rules Changed, Customers Must Not Ignore

Canara Bank and Bank of Baroda account holders must know the changes

New Delhi: Bank rules have been changed. Bank customers must take note of the new rules being implemented from June 1. While all bank customers need not to worry, Canara Bank and Bank of Baroda account holders must know the changes. Canara Bank’s change is pertaining to IFSC code and Bank of Baroda has made Positive pay confirmation mandatory to check fraud cheque payments.

Canara Bank has stated that “Existing IFSC of erstwhile Syndicate Bank” has been discontinued from July 1, 2021. The Canara bank authority has asked it customers to update their Bank Branch’s IFSC code by 30 June. New IFSC will start from CNRB, Canara Bank has stated.

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“We request you to inform the remitters (senders) to use only your new IFSC code starting with “CNRB” while sending NEFT/RTGS/IMPS, from now itself,” Canara Bank authority said.

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