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 Basmat Road Parbhani branch in Parbhani, Parbhani, Maharashtra, 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 Parbhani or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code SBIN0021054. 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, Basmat Road Parbhani, Parbhani
Here are some of the key details that come with the IFSC Code SBIN0021054 of State Bank Of India for its branch located in Parbhani, within the district of Parbhani in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0021054 |
| Branch | Basmat Road Parbhani |
| City | Parbhani |
| District | Parbhani |
| State | Maharashtra |
| Address | 3Shivramnagarbasmatroadparbhani |
These details are crucial, not just for online banking users but also for businesses and individuals who use State Bank Of India in Parbhani for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SBIN0021054 for the Basmat Road Parbhani 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 Basmat Road Parbhani, Parbhani, Maharashtra, is provided a unique IFSC like SBIN0021054 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 Parbhani.
- 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 Parbhani and Parbhani.
- 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 Maharashtra and the rest of India, the IFSC Code ensures that transactions meant for State Bank Of India in Basmat Road Parbhani do not get misguided to another person.
Format of the IFSC Code SBIN0021054
The format of the IFSC Code for banks, including State Bank Of India, has 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 Basmat Road Parbhani in Parbhani.
For example, the IFSC Code SBIN0021054 of State Bank Of India for the Basmat Road Parbhani branch includes these elements, identifying the bank and the branch location in Parbhani and Maharashtra correctly.
How to Find IFSC Code for State Bank Of India?
If you are trying to find the IFSC Code SBIN0021054 of State Bank Of India for its Basmat Road Parbhani branch located in Parbhani, the following methods can help:
Cheque Book
The cheque books that are issued by State Bank Of India include the IFSC Code which is printed on each cheque and you can easily spot the code on the top section.
Passbook
Most banks, including State Bank Of India branches in Parbhani and Parbhani, 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 find the branch locator section. Search for Basmat Road Parbhani or Parbhani to get the exact IFSC Code SBIN0021054.
Mobile Banking App
If you use State Bank Of India's mobile app, you can easily 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 to help you in searching for State Bank Of India and Parbhani that will provide accurate information.
How to Use IFSC Code SBIN0021054 for Online Transfers?
If you have the IFSC Code SBIN0021054 for the Basmat Road Parbhani branch of State Bank Of India in Parbhani, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code SBIN0021054. 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 SBIN0021054.
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 Basmat Road Parbhani in Parbhani, 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 Basmat Road Parbhani, 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 Parbhani manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Basmat Road Parbhani Parbhani branch is SBIN0021054.
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 3Shivramnagarbasmatroadparbhani.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.