- Stock Markets on Monday: FII selling, US market corrections remain a pain point for domestic equities; Anil Singhvi gives trigge
- COVID-19: India recorded 3,33,533 new coronavirus cases, active cases increase to 21,87,205
- Netaji Subhas Chandra Bose Jayanti: President, Prime Minister pay tribute to the national hero, Bose's hologram statue at India
- FabIndia plans to raise up to Rs 4,000 crore through IPO - Top 10 things investors must know
- Mutual Fund in 2021: Equity outperforms Fixed Deposit, gold loses sheen while debt schemes least favoured by millennials
SBI IFSC Code: Find IFSC code of your State Bank of India branch here
SBI IFSC Code: Want to transfer or receive money via a State Bank of India (SBI) account but do not know the IFSC code of the SBI bank branch. Don't worry as this is no big deal. You can find the IFSC code of any SBI branch and there are many simple ways to find that out
SBI IFSC Code: Want to transfer or receive money via a State Bank of India (SBI) account but do not know the IFSC code of the SBI bank branch. Don't worry as this is no big deal. You can find the IFSC code of any SBI branch and there are many simple ways to find that out. But, before that you must know what an IFSC Code is 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.
This 11-digit code 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 SBI's online banking mode for transferring money to another SBI account, you will have to enter the IFSC code of that SBI branch for the 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.
In case, if you have to receive money and want to send your account details including the IFSC code, you can find out in the above mentioned way.
See Zee Business Live TV Streaming Below:
NOTE: There are ways to transfer money from one account to another without using IFSC code.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.