IFSC of SBI kanchanwadi branch, aurangabad, maharashtra

IFSC Code of SBI kanchanwadi branch, aurangabad, maharashtra – SBIN0020543

The kanchanwadi branch of the State Bank of India in maharashtra can be identified by its unique alphanumeric IFSC code of SBIN0020543. This IFSC code is necessary to conduct electronic fund transfers via RTGS or NEFT. The branch’s full address is Aurangabad

Bank Name State Bank of India
Branch kanchanwadi branch
Branch Code 20543
IFSC SBIN0020543
Address Aurangabad
District aurangabad
State maharashtra
Contact Number 2376175, 1800 112211 / 1800 4253800
Email Id [email protected] / [email protected]

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SBI kanchanwadi branch, aurangabad, maharashtra IFSC Code – How it Works?

With an extensive network of branches spread across India, State Bank of India (SBI) is among the largest public sector banks in the country. SBI employs the Indian Financial System Code (IFSC), an 11-digit alphanumeric sequence, to enable seamless and effective fund transfers. The SBI branch code is a crucial element for carrying out electronic fund transfers (EFT) through various platforms like National Electronic Fund Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS). It serves as a distinct identifier for every SBI branch.

The International Financial System Code (IFSC) is a unique identification code used by banks in India to facilitate electronic funds transfer. It consists of two primary components: the initial four characters signify the bank code, while the following seven characters denote the branch code.

As an example, the State Bank of India branch situated in kanchanwadi branch, aurangabad, possesses an IFSC code of  SBIN0020543. The bank code “SBIN” and the branch code is remaining number which is unique identification code.

This code enables the EFT system to accurately identify the specific bank branch and commence the process of transferring funds.

The IFSC code is a crucial requirement owing to the extensive number of electronic fund transfers that banks handle on a daily basis.

To transfer money using SBI Bank, you can utilize their NEFT, RTGS, and IMPS processes.

These methods allow for seamless and secure transfer of funds.
In order to successfully transfer funds using any mode of payment, certain information is required. As for the State Bank of India (SBI), it is a prominent financial institution that offers a range of banking services to its customers.

If you wish to transfer funds through SBI Bank’s NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service) methods, you can do so by following a few straightforward steps.

To initiate NEFT transfers, it is necessary to:

  • To initiate NEFT transfers, it is necessary to access your SBI Bank account via online banking or mobile banking.
  • To initiate a transfer, kindly navigate to the menu and select the ‘NEFT’ option.
  • Please provide the account number, bank name, and branch name of the recipient.
  • Please input the desired transfer amount.
  • It is recommended to thoroughly review the provided information and subsequently validate the transaction.

Click here to read Step by Step Guide of NEFT transfer

To initiate RTGS transfers, it is necessary to:

  • Access your SBI Bank account conveniently through either online banking or mobile banking.
  • To proceed with a Real Time Gross Settlement transaction, kindly navigate to the menu and select the ‘RTGS’ option.
  • Please provide the account number, bank name, and branch name of the recipient.
  • Please input the desired transfer amount, noting that RTGS transfers have a minimum amount requirement.
  • It is recommended to thoroughly review the provided information and subsequently validate the transaction.

Click here to read Step by Step Guide of RTGS transfer

To initiate IMPS transfers, it is necessary to:

  • Access your SBI Bank account quickly through either online banking or mobile banking.
  • To proceed with your transaction, kindly select the ‘IMPS’ option from the available menu.
  • Please provide the account number, bank name, and branch name of the recipient.
  • Please input the desired transfer amount. And follow the process

Click here to read Step by Step Guide of IMPS transfer

To initiate a mobile money transfer, kindly provide the recipient’s mobile number and their corresponding MMID (Mobile Money Identifier).
Please ensure that all the information provided is accurate and proceed to confirm the transaction.
Upon the successful completion of the aforementioned steps, the designated amount shall be seamlessly transferred to the recipient’s account within the stipulated time frame as per the chosen mode of transaction, namely NEFT, RTGS, or IMPS.

FAQ

How can I find branch IFSC code?

To find the IFSC code of a particular bank branch, you can use one of the following methods:
firstly check https://www.azbalance-enquiry.in/
Check your bank account passbook or statement, where it’s usually printed.
Visit your bank’s official website, as they often provide a search feature to find the IFSC code.
Make use of third-party websites or apps that provide IFSC code lookup services.
Contact your bank’s customer care service for assistance.

How many digits are present in IFSC code?

An IFSC code consists of 11 alphanumeric characters. It is a unique identifier for each bank branch in India.

Is the IFSC code the same as the branch code?

No, the IFSC code is not the same as the branch code. The IFSC code is a combination of a bank’s identifier (first four characters), a control character (fifth character), and the branch code (last six characters). The branch code is embedded within the IFSC code.

How can I know my SBI account IFSC code?

To know the IFSC code of your SBI account, follow these steps:
Check your SBI passbook or account statement, where the IFSC code is usually printed.
Visit the SBI official website and use their branch locator tool to find the IFSC code.
Call SBI’s customer care helpline for assistance.

What does IFSC code mean?

IFSC stands for Indian Financial System Code. It is an 11-character alphanumeric code used to uniquely identify a specific bank branch within the Indian banking system. This code is necessary for electronic fund transfers, such as NEFT, RTGS, and IMPS.

Where is SBI IFSC code used?

The SBI IFSC code is used for various financial transactions, including:
Electronic fund transfers like NEFT, RTGS, and IMPS.
Ensuring the accuracy and security of interbank transactions.
Simplifying the process of identifying the correct bank branch for fund transfers.

 

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