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. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of State Bank Of India for its Derabassi Ssi branch in Patiala, Dera Bassi, or Punjab, this guide will help you with all the details.
There have been major changes in the banking sector in India and today, the customers of State Bank Of India located in Patiala or anywhere in Punjab can transfer funds instantly by using the correct IFSC Code SBIN0050654. 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, Derabassi Ssi, Patiala
The table below shows the main details of the IFSC Code SBIN0050654 for the State Bank Of India branch in Patiala, which falls under the Dera Bassi district in Punjab.
| Particulars | Details |
|---|---|
| Bank | State Bank Of India |
| IFSC Code | SBIN0050654 |
| Branch | Derabassi Ssi |
| City | Patiala |
| District | Dera Bassi |
| State | Punjab |
| Address | Teh Rajpura |
These details helps users in online banking and for businesses and individuals who use State Bank Of India in Patiala for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SBIN0050654 for the Derabassi Ssi 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 Derabassi Ssi, Patiala, Punjab, is provided with a unique IFSC like SBIN0050654 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 Patiala.
- 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 Patiala and Dera Bassi.
- 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 Punjab and the rest of India and the IFSC Code ensures that transactions meant for State Bank Of India in Derabassi Ssi do not get mixed with another location.
Format of the IFSC Code SBIN0050654
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 Derabassi Ssi in Patiala.
For example, the IFSC Code SBIN0050654 of State Bank Of India for the Derabassi Ssi branch has these elements, identifying the bank and the branch location in Patiala and Punjab correctly.
How to Find IFSC Code for State Bank Of India?
If you are trying to find the IFSC Code SBIN0050654 of State Bank Of India for its Derabassi Ssi branch located in Patiala, 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
Most banks, including State Bank Of India branches in Patiala and Dera Bassi, print the IFSC and MICR codes 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 Derabassi Ssi or Patiala to get the exact IFSC Code SBIN0050654.
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 Patiala, you'll get the correct details.
How to Use IFSC Code SBIN0050654 for Online Transfers?
Once you have the IFSC Code SBIN0050654 for the Derabassi Ssi branch of State Bank Of India in Patiala, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code SBIN0050654. Transfers are processed in batches. This is 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. Requires the recipient's account details and State Bank Of India IFSC Code SBIN0050654.
Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for State Bank Of India Derabassi Ssi in Patiala 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 Derabassi Ssi, 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 Patiala manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is SBIN0050654.
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 Teh Rajpura located in Patiala, Dera Bassi, Punjab.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.