IFSC of this bank is going to change from February 28, check if you are a customer

Highlights

  • New IFSC Active from 25 October 2021
  • Transactions can be done only through new IFSC from March 1, 2022
  • Checks with old MICR code issued after February 28 will not be valid

new Delhi: There is an important news for the customers of the erstwhile Lakshmi Vilas Bank. The old IFSC (Indian Financial System Code) of Lakshmi Vilas Bank will be valid only till February 28, 2022. After this, the transaction can be done only through the new IFSC. Let us inform that Lakshmi Vilas Bank was merged with DBS Bank of Singapore in November 2020. Since then the branches of Lakshmi Vilas Bank are functioning as DBS Bank branches.

According to the notification on the website of Lakshmi Vilas Bank, the new IFSC is active from October 25, 2021. For the convenience of the customers, it was decided to keep both the new and old IFSCs active from 25 October 2021 to 28 February 2022. But now from March 1, 2022, transactions can be done only through the new IFSC.

get a new check book
The notification also states that new checkbooks with new MICR codes are available from November 1, 2021. Checks issued up to February 28, 2022 with the old MICR code will be valid. But checks with old MICR code issued after February 28 will not be valid. Therefore, customers should issue checkbooks with new MICR code before February 28, 2022.

Record update as soon as possible
The erstwhile Lakshmi Vilas Bank customers will have to use the new IFSC for money transactions through NEFT/RTGS/IMPS with effect from March 1, 2022. Therefore, customers should update their records, recurring payments and receivables with the new IFSC code as soon as possible. Replace the old MICR code check issued to a third party with the new MICR code check. For a new check book, one can visit the bank branch or take the help of internet banking, mobile banking. Customers can also call on customer care number 18602674567 if they want. To know the complete details of the new IFSC Code / MICR code, visit https://www.lvbank.com/view-new-ifsc-details.aspx.

SBI credit card holder should never make this mistake, it can cause huge loss

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