Everything to know about the IFSC changes and its adoption

Banking services	Changes
Account details	Only the IFSC codes will change. Your account number and other details will remain the same.
Passbook and cheque books	You will receive a cheque book with the new IFSC of your account.
Internet banking	Since IFSC codes are crucial, the changes need to be implemented while using services like IMPS, NEFT, and RTGS.
Auto-Debit instructions	Standing instructions / NACH mandates for services like Mutual Funds subscription/ loan repayments / insurance premium debits etc need to be changed with new IFSC codes and account details.

Category	Actions required by you
Banking transactions	Inform all tenants, vendors, suppliers, friends, family, etc., to update the Axis Bank IFSC in their bank payee list. Ask third parties to add you as a new payee with the revised Axis Bank IFSC. Provide Axis Bank cancelled cheques to third parties or financial institutions to update your IFSC details.
Credit Cards	Update your Citi Credit Card details for repayment of dues with the Axis Bank IFSC.
Investments	Initiate all physical mandates with Axis Bank IFSC while starting new SIPs. Share the new IFSC details with the Registrar and Transfer Agents (RTAs) if you hold physical forms of company equity shares. Contact equity brokers and BSE Star and NSE NMF to inform them about the IFSC code changes. PMS/AIF investments done through third parties require you to update the new Axis Bank IFSC.
Insurance	If you have purchased an insurance policy from any insurer other than our insurance partners, inform them about the new IFSC.
Government bodies and employers	Contact relevant government bodies such as EPFO and update your Axis Bank IFSC. Contact your employer and update the IFSC. If you have an FCRA account, contact your CA to update the changes in IFSC.
Trust and society accounts	Inform all tenants to update the Axis Bank IFSC in their payee list. Also, make changes to the apps like “My Gate” and “Apartment Adda”. For trusts, inform all the donors to update the new IFSC.