If your bank account is in the erstwhile Allahabad Bank, then this news is important for you. Because after the merger of Allahabad Bank with Indian Bank, Allahabad Bank’s MICR code and checkbook will be closed from 1 October 2021. Indian Bank has given this information by tweeting. After October 1, if someone uses the old checkbook, then the money will not be transferred. Let us tell you that from April 1, 2020, Allahabad Bank has been merged with Indian Bank.
Enjoy smooth banking transactions without any disturbances, Indian Bank said in a tweet on the official Twitter handle. MICR code and check books of erstwhile Allahabad Bank will be closed from 01.10.2021. Receive a new check book from your nearest branch or apply through Internet Banking / Mobile Banking.
What is MICR code?
MICR code stands for Magnetic Ink Character Recognition. As you can understand from its name. The MICR code is printed on the check with magnetic ink. It is mainly used as a security barcode to protect transactions.
New IFSC Code has been issued
Please tell that the IFSC code of Allahabad Bank has changed from July 1, 2021, customers will have to update the new IFSC code to continue the transaction. You can either ask for the information for the new IFSC code by visiting your home branch or you can find the code by visiting this link www.indianbank.in/amalgamation.
Profit up 220 per cent in June quarter
Government bank Indian Bank has made tremendous profit in the June quarter. The profit of the bank has increased by 220 percent to 1,182 crore. A year ago, in the same quarter of 2019-20, the bank had a net profit of Rs 369 crore. Indian Bank’s total income increased to Rs 11,500.20 crore in the first quarter of the current financial year from Rs 11,446.71 crore in the corresponding quarter of 2019-20 a year ago.
