For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of State Bank Of India for its Moga M.C. branch in Moga, Moga, Punjab, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of State Bank Of India located in Moga or anywhere in Punjab can transfer funds instantly by using the correct IFSC Code SBIN0050659. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for State Bank Of India, Moga M.C., Moga
The table below shows the main details of the IFSC Code SBIN0050659 for the State Bank Of India branch in Moga, which falls under the Moga district in Punjab.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0050659 |
| Branch | Moga M.C. |
| City | Moga |
| District | Moga |
| State | Punjab |
| Address | Municipal Committee Teh Moga |
These details are crucial, not just for online banking users but also for businesses and individuals who use State Bank Of India in Moga for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SBIN0050659 for the Moga M.C. branch of State Bank Of India has an important role.
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 Moga M.C., Moga, Punjab, is provided a unique IFSC like SBIN0050659 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 Moga.
- 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 Moga and Moga.
- 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 Punjab and the rest of India, the IFSC Code ensures that transactions meant for State Bank Of India in Moga M.C. do not get misguided to another person.
Format of the IFSC Code SBIN0050659
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 Moga M.C. in Moga.
For example, the IFSC Code SBIN0050659 of State Bank Of India for the Moga M.C. branch includes these elements, identifying the bank and the branch location in Moga and Punjab accurately.
How to Find IFSC Code for State Bank Of India?
To find the IFSC Code SBIN0050659 of State Bank Of India for its Moga M.C. branch located in Moga, 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 Moga and Moga, 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 Moga M.C. or Moga to find the exact IFSC Code SBIN0050659.
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 Moga will provide accurate information.
How to Use IFSC Code SBIN0050659 for Online Transfers?
Once you have the IFSC Code SBIN0050659 for the Moga M.C. branch of State Bank Of India in Moga, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code SBIN0050659. 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 SBIN0050659.
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 Moga M.C. in Moga, 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 Moga M.C., 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 State Bank Of India website.
- Search the RBI portal.
Having both the IFSC and MICR codes makes it easy for account holders in Moga to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code of the Moga M.C. Moga branch is SBIN0050659.
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 Municipal Committee Teh Moga.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.