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 Panki branch in Palamu, Palamau, Jharkhand, 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 Palamu or anywhere in Jharkhand can easily transfer funds instantly by using the correct IFSC Code SBIN0003551. 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, Panki, Palamu
The table below shows the main details of the IFSC Code SBIN0003551 for the State Bank Of India branch in Palamu, which falls under the Palamau district in Jharkhand.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0003551 |
| Branch | Panki |
| City | Palamu |
| District | Palamau |
| State | Jharkhand |
| Address | Popanki |
These details are crucial, not just for online banking users but also for businesses and individuals who use State Bank Of India in Palamu for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SBIN0003551 for the Panki 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, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including State Bank Of India located in Panki, Palamu, Jharkhand, is provided with a unique IFSC like SBIN0003551 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 Palamu.
- 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 Palamu and Palamau.
- 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 Jharkhand and the rest of India and the IFSC Code ensures that transactions meant for State Bank Of India in Panki do not get mixed with another location.
Format of the IFSC Code SBIN0003551
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 Panki in Palamu.
For example, the IFSC Code SBIN0003551 of State Bank Of India for the Panki branch includes these elements, identifying the bank and the branch location in Palamu and Jharkhand accurately.
How to Find IFSC Code for State Bank Of India?
If you are trying to find the IFSC Code SBIN0003551 of State Bank Of India for its Panki branch located in Palamu, the following methods can help:
Cheque Book
The cheque book issued by State Bank Of India includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.
Passbook
You can easily find the IFSC and MICR codes because most banks, including State Bank Of India branches in Palamu and Palamau, print them on the first page of your passbook.
Bank Website
Visit the official website of State Bank Of India and navigate to the branch locator section. Search for Panki or Palamu to get the exact IFSC Code SBIN0003551.
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 keeps an updated list of all IFSC codes. If you search for State Bank Of India and Palamu, you'll get the correct details.
How to Use IFSC Code SBIN0003551 for Online Transfers?
Once you have the IFSC Code SBIN0003551 for the Panki branch of State Bank Of India in Palamu, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code SBIN0003551. 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 SBIN0003551.
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 Panki in Palamu, 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 Panki, 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 Palamu manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Panki Palamu branch is SBIN0003551.
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 Popanki.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.