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 State Bank Of India for its M L A Colony Branch branch in Hyderabad, Hyderabad, Andhra Pradesh, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of State Bank Of India located in Hyderabad or anywhere in Andhra Pradesh can transfer funds instantly by using the correct IFSC Code SBIN0016524. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for State Bank Of India, M L A Colony Branch, Hyderabad
Here are some of the key details that come with the IFSC Code SBIN0016524 of State Bank Of India for its branch located in Hyderabad, within the district of Hyderabad in the state of Andhra Pradesh.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0016524 |
| Branch | M L A Colony Branch |
| City | Hyderabad |
| District | Hyderabad |
| State | Andhra Pradesh |
| Address | 8 2 293/82/L/275/A/B/1 8 2 293/82/L/275/A/B/1, Venkateswara Coop House Building Society For Ap Legislators Road 12, M L A Colony, Banjara Hills, Hyderabad, Distt. Hyderabad. Andhra Pradesh 500034 |
These details helps users in online banking and for businesses and individuals who use State Bank Of India in Hyderabad for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SBIN0016524 for the M L A Colony Branch branch of State Bank Of India plays a vital 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 State Bank Of India located in M L A Colony Branch, Hyderabad, Andhra Pradesh, is provided with a unique IFSC like SBIN0016524 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the State Bank Of India branch in Hyderabad.
- 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 Hyderabad and Hyderabad.
- 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 Andhra Pradesh and the rest of India and the IFSC Code ensures that transactions meant for State Bank Of India in M L A Colony Branch do not get mixed with another location.
Format of the IFSC Code SBIN0016524
The format of the IFSC Code for banks, including State Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): These represent the bank code. In State Bank Of India, 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 M L A Colony Branch in Hyderabad.
For example, the IFSC Code SBIN0016524 of State Bank Of India for the M L A Colony Branch branch has these elements, identifying the bank and the branch location in Hyderabad and Andhra Pradesh correctly.
How to Find IFSC Code for State Bank Of India?
To find the IFSC Code SBIN0016524 of State Bank Of India for its M L A Colony Branch branch located in Hyderabad, the following methods can help you out:
Cheque Book
The cheque book issued by State Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including State Bank Of India branches in Hyderabad and Hyderabad, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of State Bank Of India and go to the branch locator section. Then search for M L A Colony Branch or Hyderabad to find the exact IFSC Code SBIN0016524.
Mobile Banking App
If you use State Bank Of India'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 State Bank Of India and Hyderabad will provide accurate information.
How to Use IFSC Code SBIN0016524 for Online Transfers?
Once you have the IFSC Code SBIN0016524 for the M L A Colony Branch branch of State Bank Of India in Hyderabad, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code SBIN0016524. The transfer is completed in batches instead of instantly. It is useful for both personal and business payments.
RTGS
Used for high-value payments above ₹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 SBIN0016524.
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 M L A Colony Branch in Hyderabad, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of State Bank Of India in M L A Colony Branch, here are some of the ways 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.
Knowing both IFSC and MICR code can help account holders in Hyderabad manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is SBIN0016524.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is 8 2 293/82/L/275/A/B/1 8 2 293/82/L/275/A/B/1, Venkateswara Coop House Building Society For Ap Legislators Road 12, M L A Colony, Banjara Hills, Hyderabad, Distt. Hyderabad. Andhra Pradesh 500034 located in Hyderabad, Hyderabad, Andhra Pradesh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
