The IFSC codes for erstwhile Syndicate Bank customers will be changed from July 1 this year. The bank was merged with Canara Bank in April 2020 as part of a slew of bank mergers undertaken by the central government.
The move means that Syndicate Bank customers will have to use their new IFSC codes for online transactions through NEFT, RTGS or IMPS routes.
“This is to inform that after merger of Syndicate Bank with Canara Bank, all eSyndicate IFSC codes starting with SYNB have been changed. All the IFSC starting with SYNB will be disabled with effect from July 1, 2021,” Canara Bank said on its website. “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 has released a list of the new IFSC codes on its official website that Syndicate Bank customers will need to use from now, as per their corresponding old codes. They can also use the dedicated tool on Canara Bank’s website to check their new IFSC codes.
Customers of Syndicate Bank will also have to get fresh cheque books with their new IFSC and MICR codes too. Moreover, the Swift code of erstwhile Syndicate Bank (SYNBINBBXXX) will also be discontinued from July 1, 2021. SWIFT codes are used for sending or receiving SWIFT messages for the purpose of Foreign Exchange transactions. Canara Bank has asked customers to use the swift code (CNRBINBBFD) for any of their Foreign Exchange transactions.
IFSC or Indian Financial System Code is an unique, eleven-character alpha-numeric code used to identify bank branches for NEFT, RTGS or IMPS transactions. The first four characters are letters representing the bank, the fifth character is a zero, and the last six characters are numbers representing the branch.
In 2019, Finance Minister Nirmala Sitharaman had announced mergers of 10 public sector banks to create four mega lenders of global capacity. These mergers came into effect on April 1, 2021. The merger of Syndicate Bank in Canara Bank was part of this consolidate drive. Canara Bank became the fourth-largest bank in the nation following the merger.
ATM charges, Salary, pension, EMI payment rules to change from August 1
Tomorrow is August 1 and there will be certain changes in the banking transactions from next month. These modifications include that your salary will be credited on Sundays and gazetted holidays. The apex bank, Reserve Bank of India (RBI) has recently announced that the National Automated Clearing House (NACH) will remain functional all days of the week from August 1, 2021.
Operated by the National Payments Corporation of India, NACH helps in facilitating credit transfers such as payment of dividends, interest, salary and pension. It also facilitates the collection of payments pertaining to electricity, gas, telephone, instalments towards loans, investments in mutual funds and insurance premium.
Currently, this facility of crediting salary is operational on working days of banks and therefore, the auto-debits are not allowed on bank holidays, gazetted holidays and even Sundays. “In order to further enhance customer convenience, and to leverage the 24×7 availability of real-time gross settlement (RTGS), NACH which is currently available on bank working days, is proposed to be made available on all days of the week effective from August 1, 2021,” RBI governor Shaktikanta Das had said.
This is aimed at reducing the duration of salary processing which includes salary credits, bill payments, insurance premiums and loan EMIs. Earlier, it was delayed due to bank holidays and this auto-transfer facility has helped the transfer of government subsidies during the present COVID-19 in a timely and transparent manner, RBI said.
Recently, RBI Governor Shaktikanta Das had announced several key financial, economic measures amid the pandemic. Among other measures, he had announced 24×7 availability of RTGS and NACH from August 1, 2021.
Got 1 rupee Indian coin? Here’s how it will make you a crorepati
A 1 rupee Indian coin lying idle in your collection box could pave the way for you to earn crores of rupees just from the comfort of your home, provided you ensure that currency in your possession matches certain criteria. You could earn nearly Rs 10 crore by selling it online. For selling notes and currency of collection you can visit websites that deal with them with a very high premium.
Actually, the coin of Rs 1 that we have mentioned above was auctioned for Rs 10 crore. But this coin is not an ordinary coin. The coin that has been auctioned at such a high premium was printed during British rule and was printed in 1885. Incase you are in possession of such a coin, you too could get Rs 10 crore for it on the online auction.
There are several websites that deal in auctioning of such rare coins. To auction these old coins, you can also visit OLX. You will need to create your login ID and auction your coin. Additionally, you can also auction coins by creating your ID on indiamart.com. You will have to share the photo of your coin for the auction.
Several people are into buying antique goods while several coin collectors are also out there who would go to any length to acquire rare coins.
Big news for Aadhaar card holders! Now get mobile number updated at your door step
In what could come as a major relief for Aadhaar card holders, updating their mobile numbers on the 12 digit Unique Identification card is now available at their doorsteps.
Individuals can now update mobile numbers on their Aadhaar cards at their doorstep with the help of a postman. India Post Payments Bank and Unique Identification Authority of India under an arrangement will allow postmen to update mobile numbers of Aadhaar cardholders. The service will be available through a network of 650 India Post Payments Bank, 1.46 lakh postmen and Gramin Dak Sevaks (GDS).
At present, IPPB is only providing mobile update service and will very soon also enable child enrolment service through its network.
Now a resident Aadhaar holder can get his mobile number updated in Aadhaar by the postman at his door step.
— PIB_INDIA Ministry of Communications (@pib_comm) July 20, 2021
Meanwhile, Aadhaar issuing body Unique Identification Authority of India (UIDAI) had a couple of months ago listed out 4 important charges for Aadhaar Services in its fresh tweet.
“New Aadhaar Enrolment and MBU (at 5&15 yrs) are free. Charges for updating Aadhaar are fixed: ₹50 for demographic update & ₹100 for biometric update (with/without demographic update). Call 1947 or write to us at [email protected] if you are asked to pay extra,” UIDAI has tweeted.
Aadhaar Enrolment charges: Free
Mandatory Biometric Update with or without Demographic update: Free
Demographic update (Name, Address, Date of Birth, Gender, Mobile Number, E-mail): Rs 50
Biometric update with or without Demographic update: Rs 100
Other than the above you can also order for Aadhaar PVC Card. It can be ordered online through uidai.gov.in or resident.uidai.gov.in using Aadhaar number, Virtual ID or Enrolment ID. Users can do so by paying a nominal charge of Rs 50. Aadhaar PVC Card is delivered to the resident’s address by speed post.
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