SBI changes names, IFSC codes of over 1200 branches

The changes have also been made to the branches of banks which were merged a few months ago.

State Bank of India (SBI) has changed the names and IFSC codes of over 1200 branches across the country.
 
The changes have also been made to the branches of banks which were merged a few months ago.
 
The country's largest bank has also posted on its website the full list of all those branches whose names and codes have been changed. 
 
For instance, the name of Delhi-based IFCI Tower branch has been changed to Nehru Place branch. Its branch code has been changed to 04688 from the earlier code of 32602.
 
IFSC, which stands for Indian Financial System Code, is an alphanumeric code specific to the branch of a bank. 
 
Each bank branch has a different IFSC code, it is used in RTGS, NEFT and IMPS transfers. 
 
The RBI provides these codes to the banks.
 
Source: Business Standard

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