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Cheque Book of These 3 Banks To Be Invalid From October 1: Here’s What To Do

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Account-holders of two nationalized banks will need to get their cheque books replaced or updated as of 1st October 2021, since they will cease to function. Allahabad Bank, Oriental Bank of Commerce (OBC), and United Bank of India are the banks whose cheque books will stop functioning on October 1. These three banks have since been owned by other banking institutions. On April 1, 2020, Allahabad Bank and Indian Bank merged, and on April 1, 2019, Oriental Bank of Commerce (OBC) and United Bank of India merged with Punjab National Bank (PNB).

 
Cheque Book of These 3 Banks To Be Invalid From October 1: Here’s What To Do

On 14th September 2021, Indian Bank with a step to inform its customers has Tweeted that "Erstwhile Allahabad Bank customers can continue to enjoy a seamless banking experience with Indian Bank by ordering new cheque books as the old ones will no longer be acceptable w.e.f 1st October, 2021."

The bank has further said in an important announcement for erstwhile Allahabad bank customers that "Old cheques of erstwhile Allahabad Bank will not be accepted for payment w.e.f. 01.10.2021. Obtain new Indian Bank cheque book to enjoy hassle free banking." Customers of erstwhile Allahabad Bank can go through Internet Banking, Mobile Banking, or bank branch to get new cheque book of Indian Bank.

On the other hand, Punjab National Bank (PNB) has also made an important announcement on 8th September 2021. The bank has said that "Old cheque book of Oriental Bank of Commerce (OBC) and United Bank of India (UNI) are going to be discontinued from 01.10.2021. Please replace your old cheque book of eOBC & eUNI with PNB cheque book with updated PNB IFSC and MICR. Get your new cheque book from your branch or apply through ATM/IBS/PNB ONE. The bank has also requested that "All the customers are requested to use new PNB Cheque Book with updated PNB IFSC & MICR only from now onwards to avoid any transactional inconvenience. Please contact our toll-free number 1800-180-2222 for any assistance or query."

Owing to the government's mega consolidation plan four other public sector banks i.e. Syndicate Bank was merged into Canara Bank, while Andhra Bank and Corporation Bank were combined into Union Bank of India.

Read more about: cheque book
Story first published: Friday, September 24, 2021, 12:05 [IST]
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