New Delhi, Oct. 4 -- If your bank tells you that the branch where you hold an account is closing, shifting, or merging with another branch, there is generally no need to withdraw your money or open a fresh account.

The Reserve Bank of India (RBI) requires banks to inform customers in advance about such changes and make arrangements to ensure that banking services continue. If an account is transferred to another branch of the same bank, it can continue as an existing account rather than being treated as a new one, provided the required KYC formalities are already complete.

A branch shutting down does not mean that your account or deposit will disappear. The bank will generally transfer the account to another branch or banking outlet and...