IFSC Code, MICR Codes for STATE BANK OF INDIA in ANDHRA PRADESH - SRIKAKULAM - PALASA - PALASA

STATE BANK OF INDIA RTGS HO Branch in PALASA - Address, IFSC, MICR Code


IFSC Code

SBIN0001006

MICR Code

532002007

Branch

PALASA

Contact

0

Address

DISTSRIKAKULAM ANDHRA PRADESH 532221

City

PALASA

District

SRIKAKULAM

State

ANDHRA PRADESH





What is IFSC Code of STATE BANK OF INDIA situated at PALASA- RTGS-HO?
IFSC Code of STATE BANK OF INDIA situated at PALASA - RTGS-HO is

SBIN0001006

What is the meaning of IFSC Code, MICR Codes in Banking industry?
IFSC or Indian Financial System Code is the code allocated to all banks branches. Bank branches use this code to participate in RTGS and NEFT transactions.

What is the significance of IFSC Code and how we can use it?
IFSC Code is a 11 digit code and we can use this code to communicate between different branches of different banks. Upon receiving the request for fund transfer it is easy for a bank to identify the payee branch. First four characters are code of bank, last six digits are branch code and fifth character is left 0, for any future use.