The IFSC and MICR codes of all branches of erstwhile Lakshmi Vilas Bank have changed after the amalgamation with DBS Bank India. “While the new codes have been active since October 25, 2021, the older IFSC codes will remain valid until February 28, 2022 to ensure customers’ convenience and ease of transition,” the bank said in a statement on Friday. Customers will be required to use the new DBS IFSC code from March 1, 2022 onwards to receive funds through NEFT, RTGS and IMPS. “All existing cheques issued to the third party will have to be replaced with new cheques before February 28, 2022,” the bank further said, adding that any cheque with old MICR codes presented after the date will not be honoured. The amalgamation of Lakshmi Vilas Bank with DBS Bank India came into effect on November 27, 2020.

social-fb COMMENT NOW