IFSC Code, MICR Codes for STATE BANK OF INDIA in MADHYA PRADESH - DAMOH - DAMOH - PATERA

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


IFSC Code

SBIN0002881

MICR Code

470002416

Branch

PATERA

Contact

0

Address

DAMOH MADHYA PRADESH 470772

City

DAMOH

District

DAMOH

State

MADHYA PRADESH





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

SBIN0002881

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.