IMPORTANT update from RBI on Amalgamation of Public Sector Banks

Dear Customer,    

Thank you for banking with us!

We want to update you on the discontinuation of the IFSC Code of these 4 PSU Bank's w.e.f July 1 2021. It's on account of the amalgamation of these banks as per RBI Circular¹.

Here's what you need to do:

1. You require IFSC Code for online money transfer.  
2. Please check if you have any beneficiaries from these above-referred banks in your HDFC Bank Net/Mobile Banking App.
3.  You will be required to delete# these Payees and add* their account and IFSC code details afresh for a successful online money transfer. Note: Please contact your beneficiaries for new IFSC Codes.
4. You will also be required to delete any existing Standing Instruction or Schedule Payments and add it afresh.

Please feel free to contact your Relationship Manager / Sales Manager / Service Manager for any queries or details.

We assure you of our best services at all times.


Warm Regards,
HDFC Bank

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#Steps to delete beneficiary:
Login to MobileBanking App > Menu > PAY > Money Transfer > View all Payees
Login to NetBanking > Funds Transfer > Enquire > View/Delete List of Beneficiaries  

*Steps to add beneficiary:
Login to MobileBanking App > Menu > PAY > Money Transfer > Add New Payee
Login to NetBanking > Funds Transfer > Request > Add a Beneficiary  

1. RBI circular dated March 30, 2020 on 'Amalgamation of Public Sector Banks - Assignment of SLBC/ UTLBC Convenorship and Lead Bank responsibilities' vide RBI/2019-20/197 FIDD.CO.LBS.BC.No.22/02.01.001/2019-20.  

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*Based on Retail Loan book size (excluding mortgages). Source: Annual Reports FY 19-20 and No.1 on marketcapitalisation based on BSE data as on 31st Dec, 2020.