Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of State Bank Of India for its Rairangapur branch in Mayurbhanj, Rairangpur, Odisha, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of State Bank Of India located in Mayurbhanj or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code SBIN0000163. You should definitely 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, Rairangapur, Mayurbhanj
Here are some of the key details that come with the IFSC Code SBIN0000163 of State Bank Of India for its branch located in Mayurbhanj, within the district of Rairangpur in the state of Odisha.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0000163 |
| Branch | Rairangapur |
| City | Mayurbhanj |
| District | Rairangpur |
| State | Odisha |
| Address | At And Pos Rairangpur, Mayurbhunj Dist., Orissa-757043 |
These details are important not only for users using online banking but also for businesses and individuals who use State Bank Of India in Mayurbhanj for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code SBIN0000163 for the Rairangapur branch of State Bank Of India is vital.
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 State Bank Of India located in Rairangapur, Mayurbhanj, Odisha, is provided a unique IFSC like SBIN0000163 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the State Bank Of India branch in Mayurbhanj.
- 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 Mayurbhanj and Rairangpur.
- 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 State Bank Of India in Rairangapur do not get misguided to another person.
Format of the IFSC Code SBIN0000163
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): Show the bank code. For State Bank Of India, 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 Rairangapur in Mayurbhanj.
For example, the IFSC Code SBIN0000163 of State Bank Of India for the Rairangapur branch includes these elements, identifying the bank and the branch location in Mayurbhanj and Odisha accurately.
How to Find IFSC Code for State Bank Of India?
To find the IFSC Code SBIN0000163 of State Bank Of India for its Rairangapur branch located in Mayurbhanj, 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 Mayurbhanj and Rairangpur, 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 Rairangapur or Mayurbhanj to find the exact IFSC Code SBIN0000163.
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 Mayurbhanj will provide accurate information.
How to Use IFSC Code SBIN0000163 for Online Transfers?
If you have the IFSC Code SBIN0000163 for the Rairangapur branch of State Bank Of India in Mayurbhanj, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code SBIN0000163. Transfers are processed in batches. Suitable for 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. Asks for the recipient's account details and State Bank Of India IFSC Code SBIN0000163.
Whatever method you choose, the accuracy of the IFSC Code is important and needed. In case there is any mistake in entering the IFSC Code for State Bank Of India Rairangapur in Mayurbhanj, it may 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 State Bank Of India in Rairangapur, 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 Mayurbhanj manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is SBIN0000163.
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 At And Pos Rairangpur, Mayurbhunj Dist., Orissa-757043 located in Mayurbhanj, Rairangpur, Odisha.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.