The State Bank of India (SBI), has merged with the State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH), and the Bharatiya Mahila Bank (BMB).
This merger has propelled it to the league of ‘Top 50 Global Banks’ with a balance sheet size of Rs. 41 lakh crore.
However, as a consequence of the merger, the chequebooks of these six banks are invalid, with effect from January 1, 2018.
If you are a customer of these banks, you can apply for a new chequebook, using INB, SBI Anywhere, SBI Mingle (Web Application), or visit the nearest ATM of the branch.
Here are ten crucial points to keep in mind:-
1. Go to OnlineSBI.
2. Use your old net banking username and password. There is no need to create a fresh ID.
3. Use your old mobile number. Again, there is no requirement to register your number again.
4. Registering your email ID again in OnlineSBI isn’t necessary.
5. The same 3rd party beneficiaries added and approved by you will be available and valid.
6. The billers you have registered earlier will be available on OnlineSBI.
7. All standing instructions set by you will be unchanged.
8. Username and password are case sensitive, lodge a complaint in CMS if you are unable to log in.
9. All changed NEFT and RTGS charges will apply, and service charges applicable to SBI customers will also apply to customers of associate banks, after data level merger.
10. SBI allows you to use the Fixed Deposit and Recurring Deposit products of your former bank. Post data-level merger, both Fixed Deposit and Recurring Deposit products applicable for SBI will be available for opening using net banking.
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