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 State Bank Of India for its Bassi Pathana A.D.B. branch in Egr E, Bassi Pathana, Punjab, then this comprehensive guide will provide you with detailed information.
The banking system in India has changed over time, and today the customers of State Bank Of India situated in Egr E or anywhere in Punjab can easily transfer funds instantly by using the correct IFSC Code SBIN0050418. You should know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for State Bank Of India, Bassi Pathana A.D.B., Egr E
Here are the main details that are associated with the IFSC Code SBIN0050418 of State Bank Of India for its branch located in Egr E, within the district of Bassi Pathana in the state of Punjab.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0050418 |
| Branch | Bassi Pathana A.D.B. |
| City | Egr E |
| District | Bassi Pathana |
| State | Punjab |
| Address | Block Bassi Pathana |
These details are important not only for users using online banking but also for businesses and individuals who use State Bank Of India in Egr E for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code SBIN0050418 for the Bassi Pathana A.D.B. branch of State Bank Of India is vital.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code that is provided by the Reserve Bank of India. A unique IFSC like SBIN0050418 is given to every bank branch, including State Bank Of India located in Bassi Pathana A.D.B., Egr E, Punjab, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the State Bank Of India branch in Egr E.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Egr E and Bassi Pathana.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Punjab and the rest of India, which is why the IFSC Code ensures that transactions meant for State Bank Of India in Bassi Pathana A.D.B. doesn't end up at another location.
Format of the IFSC Code SBIN0050418
The format of the IFSC Code for banks, including State Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown of this:
- First 4 characters (AAAA): Represent the bank code. For State Bank Of India, 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 Bassi Pathana A.D.B. in Egr E.
For example, the IFSC Code SBIN0050418 of State Bank Of India for the Bassi Pathana A.D.B. branch includes these elements, identifying the bank and the branch location in Egr E and Punjab accurately.
How to Find IFSC Code for State Bank Of India?
If you are looking for the IFSC Code SBIN0050418 of State Bank Of India for its Bassi Pathana A.D.B. branch located in Egr E, the following methods can help:
Cheque Book
The cheque book that is issued by State Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the banks, including State Bank Of India branches in Egr E and Bassi Pathana, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
You can visit the official website of State Bank Of India and look for the branch locator section, then search for Bassi Pathana A.D.B. or Egr E to get the exact IFSC Code SBIN0050418.
Mobile Banking App
If you use State Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for State Bank Of India and Egr E, then it will provide you proper information.
How to Use IFSC Code SBIN0050418 for Online Transfers?
Once you have the IFSC Code SBIN0050418 for the Bassi Pathana A.D.B. branch of State Bank Of India in Egr E, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code SBIN0050418. 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 State Bank Of India IFSC Code SBIN0050418.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the State Bank Of India Bassi Pathana A.D.B. in Egr E, 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 State Bank Of India in Bassi Pathana A.D.B., 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 State Bank Of India website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Egr E manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is SBIN0050418.
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 Block Bassi Pathana located in Egr E, Bassi Pathana, Punjab.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.