Cheque books Of These Banks Will Become Invalid From March 31, Says SBI

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State Bank Of India has announced a bad news for their account holders.

The country’s largest lender has reminded its customers that the chequebooks of six of its associate banks including Bharatiya Mahila Bank which merged with SBI last year will become invalid from March 31.

Account holders of the banks including Bharatiya Mahila Bank (BMB), State Bank of Patiala, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore and State Bank of Hyderabad will now have to get their chequebooks replaced by March 31 or their chequebooks will be invalid after this date.

These banks have been merged with the State Bank of India. Customers of the above-mentioned banks can exchange their chequebooks at their nearest SBI branch, via internet banking (onlineSBI.com) and mobile banking or by visiting its ATMs and branches.

In the year 2017 and in the month of December, State bank of India has changed names and IFSC codes of its 1,300 branches. The move came after the country’s biggest lender has merged five of its branches into itself.

SBI also put up the list of branches with old and new names and IFSC codes on its official website for their account holders.

The branches whose names have been changed are located in major cities of the country such as Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata and Lucknow, among others.

Before March 31, September 30 was supposed to be the last date for the chequebooks of the aforementioned banks would have been invalid and that customers no longer would have exchanged their chequebooks.

However, SBI later extended the due date for availing new chequebooks of the former associates until December 31, 2017, and then deadline was further extended till March 31. In the latest update, SBI has reduced the minimum amount of charges that was required of the non-maintenance of Average Monthly Balance (AMB) in savings accounts, effective from the 1st of April.

The charges for non-maintenance of AMB for customers in metro and urban centres have been reduced from a maximum of Rs. 50 to Rs.15 per month, excluding Goods and Services Tax (GST). Similarly, for semi-urban and rural centres, the charges have been reduced from Rs. 40 to Rs. 12 and Rs. 10 per month respectively, excluding GST.

The SBI had joined the elite league of top 50 global banks following the merger of BMB and five erstwhile associate banks, namely, State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH).

The website address after the merger of these banks with SBI is http://www.onlinesbi.com, as stated by SBI’s official website.

Source 1                 Source 2

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