There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Punjab And Sind Bank for its Baramunda branch in Khurda, Bhubaneswar, Odisha, then this comprehensive guide will provide you with detailed information.
The banking system in India has changed over time, and today the customers of Punjab And Sind Bank situated in Khurda or anywhere in Odisha can easily transfer funds instantly by using the correct IFSC Code PSIB0021498. You should know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for Punjab And Sind Bank, Baramunda, Khurda
Here are the main details that are associated with the IFSC Code PSIB0021498 of Punjab And Sind Bank for its branch located in Khurda, within the district of Bhubaneswar in the state of Odisha.
| Particulars | Details |
|---|---|
| Bank | Punjab And Sind Bank |
| IFSC Code | PSIB0021498 |
| Branch | Baramunda |
| City | Khurda |
| District | Bhubaneswar |
| State | Odisha |
| Address | Plot No 1026/2216,Baramunda, Unit -19, Bhubaneswar, Disttkhorda, Odisha - 751003 |
These details help users in online banking and for businesses and individuals who use Punjab And Sind Bank in Khurda for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code PSIB0021498 for the Baramunda branch of Punjab And Sind Bank has a very important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Punjab And Sind Bank located in Baramunda, Khurda, Odisha, is provided with a unique IFSC like PSIB0021498 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Punjab And Sind Bank branch in Khurda.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any errors or confusions between multiple branches of the same bank across different places like Khurda and Bhubaneswar.
- It reduces errors in fund transfers and improves accuracy.
- It allows sender banks to validate and confirm branch details before processing payments.
There are thousands of branches across Odisha and the rest of India and the IFSC Code ensures that transactions meant for Punjab And Sind Bank in Baramunda do not get mixed with another location.
Format of the IFSC Code PSIB0021498
The format of the IFSC Code for banks, including Punjab And Sind Bank, has an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Punjab And Sind Bank, these letters represent the bank's short name.
- 5th character: Is always zero and is kept for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Baramunda in Khurda.
For example, the IFSC Code PSIB0021498 of Punjab And Sind Bank for the Baramunda branch includes these elements, identifying the bank and the branch location in Khurda and Odisha correctly.
How to Find IFSC Code for Punjab And Sind Bank?
To find the IFSC Code PSIB0021498 of Punjab And Sind Bank for its Baramunda branch located in Khurda, the following methods can help you out:
Cheque Book
The cheque book issued by Punjab And Sind Bank includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including Punjab And Sind Bank branches in Khurda and Bhubaneswar, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Punjab And Sind Bank and go to the branch locator section. Then search for Baramunda or Khurda to find the exact IFSC Code PSIB0021498.
Mobile Banking App
If you use Punjab And Sind Bank's mobile app, you can check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India maintains an updated database of all IFSC codes. Searching for Punjab And Sind Bank and Khurda will provide accurate information.
How to Use IFSC Code PSIB0021498 for Online Transfers?
Once you have the IFSC Code PSIB0021498 for the Baramunda branch of Punjab And Sind Bank in Khurda, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code PSIB0021498. Transfers are processed in batches. Suitable for personal and business payments.
RTGS
Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. You need the recipient's account details and Punjab And Sind Bank IFSC Code PSIB0021498.
Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for Punjab And Sind Bank Baramunda in Khurda, it can result in delayed or failed transactions.
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 Punjab And Sind Bank in Baramunda, here are some ways to obtain it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official Punjab And Sind Bank website.
- Search the RBI portal.
Having both the IFSC and MICR codes makes it easy for account holders in Khurda to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code of the Baramunda Khurda branch is PSIB0021498.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at Plot No 1026/2216,Baramunda, Unit -19, Bhubaneswar, Disttkhorda, Odisha - 751003.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.