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Cheque books of these six banks will become invalid, change them before 30th September

Cheque books of these six banks will become invalid, change them before 30th September
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Mumbai: If you are holding cheque books of the banks which have been merged with SBI, you need to change them and get new ones as they will become invalid after 30th September.

According to the news published in NDTV, SBI, the country’s largest lender has asked the account holders of its subsidiary banks which were merged recently to get new cheque books and the Indian Financial System (IFS) codes.

SBI tweeted, “We request customers of SBI’s erstwhile Associate banks and Bharatiya Mahila Bank to apply for new SBI Cheque books as soon as possible.”

It may be mentioned that recently, State Bank of Hyderabad, State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore and Bhartiya Mahila Bank got merged with SBI.
Requests for obtaining new cheque books can be made through the internet, mobile banking, ATM or by visiting the concerned banks.

Clarifying the minimum account policy, last week, SBI said that it is not applicable to all the account holders. Accounts opened under Pradhan Mantri Jan Dhan Yojana, corporate salary accounts, small and basic savings bank deposit accounts are exempted from minimum balance policy.

It further said that those who don’t want to pay monthly average balance non-maintenance charges can change their saving accounts into basic savings bank deposit accounts.

It is to be noted that the penalty for not maintaining a minimum balance in savings accounts may go up to Rs. 100 (along with 18% GST).