The Synthetic & Rayon Textiles Export Promotion Council

Change of IFSC and Account due to Bank Merger

Circular No. ES/451/2020-21                25th March, 2021                                                                                                   

To: Members of the Council       

Sub: Change of IFSC and Account due to Bank Merger

Dear Member,

Air Cargo Complex (Sahar) has issued Public Notice No. 13/2021 dated 23rd March, 2021 regarding change of of Indian Financial System Code (IFSC) and Account due to Bank Merger.

In this regard, JNCH Customs had issued Public Notice No.21/2021 dated 9th March, 2021 

Your kind attention is invited to PSU banks merger & amalgamation.

The following list is of Public Sector Undertaking (PSU) Banks after Merger:-

Anchor Bank

Bank to be merged with Anchor Bank

Punjab National Bank

Oriental Bank of Commerce + United Bank of India

Canara Bank

Syndicate Bank

Indian Bank

Allahabad Bank

Bank of Baroda

Dena Bank +Vijaya Bank

Union Bank of India

Andhra Bank + Corporation Bank

State Bank of India (SBI)

State Bank of Bikaner and Jaipur (SBBJ) + State Bank of Hyderabad (SBH) + State Bank of Mysore (SBM) + State Bank of Patiala (SBP) + State Bank of Travancore (SBT) + Bharatiya Mahila Bank

Due to the ongoing exercise, a higher incidence of rejection of IGST Scrolls due to invalid IFSC (TPE0014) is being noticed; which is expected to increase further in future.

In view of the above, Customs has directed all stakeholders to identify their bank accounts which are under process of merger or already merged and update their new IFSC codes along with account number through online Bank management/AD code registration facility provided on ICEGATE website using the 'modify option', by submitting Annexure B as enclosed as per Public Notice 105/2020 dated 05.08.2020 and Public Notice 12/2021 dated 09.03.2021.

As of now banks are not accepting payment with old bank details, any delay in updation of bank account will further result in failure of IGST and other incentive payments.

In case of any difficulty, members may kindly contact the Additional Commissioner (EDI) or Deputy Commissioner (EDI), ACC on & contact EDI Section, 1st Floor, ACC for any further assistance. 

Members may kindly make a note of the above and do the needful at the earliest.                        

Thanking you,  

Yours faithfully,