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News India Live, Digital Desk: reserve Bank of India (RBI) On May 21, 2025, a notification was issued, which announced the name of North East Small Finance Bank Limited to ‘Slice Small Finance Bank Limited’ in the second schedule of the Reserve Bank of India Act, 1934.
After this step, account holders Many questions have arisen between- whether they need a new passbook or checkbook, will their debit cards continue to work and will the IFSC code change. As stated in the Economic Times, this article will help to remove all your doubts in a few seconds.
Passbook, check book and debit card: What will change the name of the bank?
According to RBI guidelines, when a bank changes its name, customers can continue using their current passbook, debit card and check book without any disruption – unless the bank gives otherwise instructions.
The IFSC code also usually remains the same until a separate notification is issued. The change process is designed to manage gradual and well, so that it is ensured that customer services are not affected.
Will your IFSC code change after changing the name of the bank?
IFSC (Indian Financial System Code) is a unique identifier that helps identify bank branches for online payments such as NEFT, RTGS and IMPS. Even though the code is usually part of the bank’s name, but changing the name of the bank does not always mean changing the IFSC code. If the bank or RBI decides to update the IFSC code to show the new name, it will be done in a phased and well -communicated manner.
Generally, customers will receive regular updates from the bank about any change. Even after changing the name of the bank, they can continue using their old passbook and checkbook for six months. For help or questions, customers should contact their local branch or bank customer assistance.
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