DBS Bank India migrates to new IFSC and MICR codes of erstwhile Lakshmi Vilas Bank (LVB)
Chennai, February 28, 2022 – Following the amalgamation with DBIL, the IFSC & MICR codes of all branches of erstwhile LVB have changed. While the new codes have been active since 25 th October 2021, the older IFSC codes will remain valid until 28 th February 2022 to ensure customers' convenience and ease of transition. Customers will be required to use the new DBS IFSC code from 1 st March 2022 onwards to receive funds through NEFT/RTGS/IMPS. The change was communicated to customers through physical letters, emails, and SMS as well as at the branches. They were requested to share the new IFSC code with business partners, associates and vendors to update their records, recurring payments and receivables well in time. All existing cheques issued to the third party will have to be replaced with new cheques before 28 th February 2022. Any cheque with old MICR codes presented after the aforementioned date will not be honoured. New cheque books (with new MICR code) h...