The IFSC Code is a very important number used in India for digital banking and online money transfers that ensures seamless and accurate fund transfers. In case you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code to route your payment to the right branch. If you are searching for the IFSC Code of Punjab National Bank for its Baripada branch in Mayurbhanj, Baripada, Odisha, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of Punjab National Bank located in Mayurbhanj or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code PUNB0025020. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Punjab National Bank, Baripada, Mayurbhanj
Below in the table are the key details related to IFSC Code PUNB0025020 of Punjab National Bank for its branch located in Mayurbhanj, within the district of Baripada in the state of Odisha.
| Particulars | Details |
|---|---|
| Bank | Punjab National Bank |
| IFSC Code | PUNB0025020 |
| Branch | Baripada |
| City | Mayurbhanj |
| District | Baripada |
| State | Odisha |
| Address | Lalbazar Road,Baripada,Mayurbhanj |
These details are essential not only for online banking users but also for businesses and individuals who use Punjab National Bank in Mayurbhanj for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code PUNB0025020 for the Baripada branch of Punjab National Bank plays an 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 National Bank located in Baripada, Mayurbhanj, Odisha, is provided with a unique IFSC like PUNB0025020 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Punjab National Bank branch in Mayurbhanj.
- 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 Mayurbhanj and Baripada.
- 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 National Bank in Baripada do not get mixed with another location.
Format of the IFSC Code PUNB0025020
The format of the IFSC Code for banks, including Punjab National Bank, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): These represent the bank code. In Punjab National Bank, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Baripada in Mayurbhanj.
For example, the IFSC Code PUNB0025020 of Punjab National Bank for the Baripada branch has these elements, identifying the bank and the branch location in Mayurbhanj and Odisha correctly.
How to Find IFSC Code for Punjab National Bank?
To find the IFSC Code PUNB0025020 of Punjab National Bank for its Baripada branch located in Mayurbhanj, the following methods can help you out:
Cheque Book
The cheque book issued by Punjab National 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 National Bank branches in Mayurbhanj and Baripada, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Punjab National Bank and go to the branch locator section. Then search for Baripada or Mayurbhanj to find the exact IFSC Code PUNB0025020.
Mobile Banking App
If you use Punjab National 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 National Bank and Mayurbhanj will provide accurate information.
How to Use IFSC Code PUNB0025020 for Online Transfers?
Once you have the IFSC Code PUNB0025020 for the Baripada branch of Punjab National Bank in Mayurbhanj, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code PUNB0025020. 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 National Bank IFSC Code PUNB0025020.
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 National Bank Baripada in Mayurbhanj, 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 National Bank in Baripada, 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 Punjab National Bank website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Mayurbhanj manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is PUNB0025020.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is Lalbazar Road,Baripada,Mayurbhanj located in Mayurbhanj, Baripada, Odisha.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.