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 The Banaskantha Mercantile Cooperative Bank Ltd for its New Gunj branch in Banaskantha, Palanpur, Gujarat, then this comprehensive guide will provide you with detailed information.
The banking system in India has changed over time, and today the customers of The Banaskantha Mercantile Cooperative Bank Ltd situated in Banaskantha or anywhere in Gujarat can easily transfer funds instantly by using the correct IFSC Code TBMC0001004. You should know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for The Banaskantha Mercantile Cooperative Bank Ltd, New Gunj, Banaskantha
Below in the table are the key details related to IFSC Code TBMC0001004 of The Banaskantha Mercantile Cooperative Bank Ltd for its branch located in Banaskantha, within the district of Palanpur in the state of Gujarat.
| Particulars | Details |
|---|---|
| Bank | The Banaskantha Mercantile Cooperative Bank Ltd |
| IFSC Code | TBMC0001004 |
| Branch | New Gunj |
| City | Banaskantha |
| District | Palanpur |
| State | Gujarat |
| Address | Opp.Gunj Bazar Bhojanalay,Inside Gunj Bazar,New Gunj,Palanpur-385001 Dist,Banaskantha,Gujarat |
These details help users in online banking and for businesses and individuals who use The Banaskantha Mercantile Cooperative Bank Ltd in Banaskantha for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code TBMC0001004 for the New Gunj branch of The Banaskantha Mercantile Cooperative Bank Ltd has a very 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, along with The Banaskantha Mercantile Cooperative Bank Ltd located in New Gunj, Banaskantha, Gujarat, are allotted a unique IFSC like TBMC0001004 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Banaskantha.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Banaskantha and Palanpur.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It makes sure that money sent to The Banaskantha Mercantile Cooperative Bank Ltd in New Gunj reaches the right place, even though there are thousands of branches in Gujarat and across India.
Format of the IFSC Code TBMC0001004
The format of the IFSC Code for banks, including The Banaskantha Mercantile Cooperative Bank Ltd, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For The Banaskantha Mercantile Cooperative Bank Ltd, 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 New Gunj in Banaskantha.
For example, the IFSC Code TBMC0001004 of The Banaskantha Mercantile Cooperative Bank Ltd for the New Gunj branch includes these elements, identifying the bank and the branch location in Banaskantha and Gujarat accurately.
How to Find IFSC Code for The Banaskantha Mercantile Cooperative Bank Ltd?
If you are trying to find the IFSC Code TBMC0001004 of The Banaskantha Mercantile Cooperative Bank Ltd for its New Gunj branch located in Banaskantha, the following methods can help:
Cheque Book
The cheque book issued by The Banaskantha Mercantile Cooperative Bank Ltd 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 The Banaskantha Mercantile Cooperative Bank Ltd branches in Banaskantha and Palanpur, print them on the first page of your passbook.
Bank Website
Visit the official website of The Banaskantha Mercantile Cooperative Bank Ltd and navigate to the branch locator section. Search for New Gunj or Banaskantha to get the exact IFSC Code TBMC0001004.
Mobile Banking App
If you use The Banaskantha Mercantile Cooperative Bank Ltd'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 The Banaskantha Mercantile Cooperative Bank Ltd and Banaskantha, you'll get the correct details.
How to Use IFSC Code TBMC0001004 for Online Transfers?
Once you have the IFSC Code TBMC0001004 for the New Gunj branch of The Banaskantha Mercantile Cooperative Bank Ltd in Banaskantha, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code TBMC0001004. 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 The Banaskantha Mercantile Cooperative Bank Ltd IFSC Code TBMC0001004.
Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for The Banaskantha Mercantile Cooperative Bank Ltd New Gunj in Banaskantha 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 The Banaskantha Mercantile Cooperative Bank Ltd in New Gunj, 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 The Banaskantha Mercantile Cooperative Bank Ltd website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Banaskantha manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is TBMC0001004.
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 Opp.Gunj Bazar Bhojanalay,Inside Gunj Bazar,New Gunj,Palanpur-385001 Dist,Banaskantha,Gujarat located in Banaskantha, Palanpur, Gujarat.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.