SBI IFSC Code: How to know IFSC code of your State Bank of India branch
SBI IFSC Code: Want to know the IFSC code of your State Bank of India (SBI) branch? There are many ways to find that out. But first understand what is an IFSC Code and why it is important?
SBI IFSC Code: Want to know the IFSC code of your State bank of India (SBI) branch? There are many ways to find that out. But first understand What is an IFSC Code and why it is important.
Bank IFSC code or the Indian Financial System Code is an 11-digit alpha-numeric code assigned by the Reserve Bank of India (RBI) to identify every bank branch participating in the payment system uniquely. It is a unique code to identify each bank branch participating in the three main Payment and Settlement Systems in India -- the Real Time Gross Settlement (RTGS) and the National Electronic Fund Transfer (NEFT) systems and the IMPS or Immediate Payment Service.
So in case you are using internet banking for transferring money to another SBI account or to an account of some other bank, you will have to enter the IFSC code of that SBI branch or other bank branch first time while adding the beneficiary or recipient of the money transfer.
The first four characters in this unique code are alphabets which represent the bank. For SBI the first four letters will be 'SBIN'. The last six characters (usually numeric, but can be alphabetic) represent the branch. The fifth character is 0 (zero) and reserved for future use. For eg. an SBI branch in the Connaught Circus area in the the NCT Delhi is SBIN0040278. The codes for every bank branch are assigned by the RBI.
How to find the IFSC bank of any concerned branch
-- Look at your cheques for the bank in question. The branch number is usually found in the upper right-hand corner, though this option is not available at all banks.
-- You can usually find your bank's branch number on its website under frequently asked questions (FAQs).
-- Call your bank's customer service department.
-- You can also find out the IFSC code of a concerned SBI bank branch by searching in the Google search engine. However, be certain to confirm after that too.
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NOTE: There are ways to transfer money from one account to another without using IFSC code
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