For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Canara Bank for its Basudevpur branch in Bhadrak, Bhadrak, Odisha, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of Canara Bank located in Bhadrak or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code CNRB0006123. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Canara Bank, Basudevpur, Bhadrak
Below in the table are the key details related to IFSC Code CNRB0006123 of Canara Bank for its branch located in Bhadrak, within the district of Bhadrak in the state of Odisha.
| Particulars | Details |
|---|---|
| Bank | Canara Bank |
| IFSC Code | CNRB0006123 |
| Branch | Basudevpur |
| City | Bhadrak |
| District | Bhadrak |
| State | Odisha |
| Address | Basudevpur Block Market Complex Po Basudevpur Dist Bhadrak |
These details are essential not only for online banking users but also for businesses and individuals who use Canara Bank in Bhadrak for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code CNRB0006123 for the Basudevpur branch of Canara Bank plays an important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Canara Bank located in Basudevpur, Bhadrak, Odisha, is provided a unique IFSC like CNRB0006123 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Canara Bank branch in Bhadrak.
- Helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any confusions between multiple branches of the same bank across different places like Bhadrak and Bhadrak.
- It reduces most of the errors in fund transfers and makes sure its accuracy.
- It enables sender banks to validate and confirm branch details before processing payments.
For thousands of branches across Odisha and the rest of India, the IFSC Code ensures that transactions meant for Canara Bank in Basudevpur do not get misguided to another person.
Format of the IFSC Code CNRB0006123
The format of the IFSC Code for banks, including Canara Bank, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown of this:
- First 4 characters (AAAA): Represent the bank code. For Canara Bank, these characters are the bank's short identifier.
- 5th character (0): Always zero which is reserved for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Basudevpur in Bhadrak.
For example, the IFSC Code CNRB0006123 of Canara Bank for the Basudevpur branch includes these elements, identifying the bank and the branch location in Bhadrak and Odisha accurately.
How to Find IFSC Code for Canara Bank?
If you are trying to find the IFSC Code CNRB0006123 of Canara Bank for its Basudevpur branch located in Bhadrak, the following methods can help:
Cheque Book
The cheque book issued by Canara Bank includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.
Passbook
Most banks, including Canara Bank branches in Bhadrak and Bhadrak, print the IFSC and MICR codes on the first page of your passbook.
Bank Website
Visit the official website of Canara Bank and navigate to the branch locator section. Search for Basudevpur or Bhadrak to get the exact IFSC Code CNRB0006123.
Mobile Banking App
If you use Canara Bank's mobile app, you can check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India keeps an updated list of all IFSC codes. If you search for Canara Bank and Bhadrak, you'll get the correct details.
How to Use IFSC Code CNRB0006123 for Online Transfers?
Once you have the IFSC Code CNRB0006123 for the Basudevpur branch of Canara Bank in Bhadrak, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code CNRB0006123. The transfer is completed in batches. It is useful for both personal and business payments.
RTGS
Used for payments over ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. Requires the recipient's account details and Canara Bank IFSC Code CNRB0006123.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Canara Bank Basudevpur in Bhadrak, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of Canara Bank in Basudevpur, here are some ways that you can get it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official Canara Bank website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Bhadrak manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is CNRB0006123.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Basudevpur Block Market Complex Po Basudevpur Dist Bhadrak located in Bhadrak, Bhadrak, Odisha.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.