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 The Baramati Sahakari Bank Ltd for its Wai branch in Wai, Satara, Maharashtra, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of The Baramati Sahakari Bank Ltd located in Wai or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BARA0000036. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for The Baramati Sahakari Bank Ltd, Wai, Wai
The table below shows the main details of the IFSC Code BARA0000036 for the The Baramati Sahakari Bank Ltd branch in Wai, which falls under the Satara district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | The Baramati Sahakari Bank Ltd |
| IFSC Code | BARA0000036 |
| Branch | Wai |
| City | Wai |
| District | Satara |
| State | Maharashtra |
| Address | C.S.No. 922, Sayali Complex, Wai, Tal. Wai, Dist. Satara 412803 |
These details helps users in online banking and for businesses and individuals who use The Baramati Sahakari Bank Ltd in Wai for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BARA0000036 for the Wai branch of The Baramati Sahakari Bank Ltd 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 that is provided by the Reserve Bank of India. A unique IFSC like BARA0000036 is given to every bank branch, including The Baramati Sahakari Bank Ltd located in Wai, Wai, Maharashtra, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the The Baramati Sahakari Bank Ltd branch in Wai.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Wai and Satara.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Maharashtra and the rest of India, which is why the IFSC Code ensures that transactions meant for The Baramati Sahakari Bank Ltd in Wai doesn't end up at another location.
Format of the IFSC Code BARA0000036
The format of the IFSC Code for banks, including The Baramati Sahakari Bank Ltd, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For The Baramati Sahakari 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 Wai in Wai.
For example, the IFSC Code BARA0000036 of The Baramati Sahakari Bank Ltd for the Wai branch includes these elements, identifying the bank and the branch location in Wai and Maharashtra accurately.
How to Find IFSC Code for The Baramati Sahakari Bank Ltd?
To find the IFSC Code BARA0000036 of The Baramati Sahakari Bank Ltd for its Wai branch located in Wai, the following methods can help you out:
Cheque Book
The cheque book issued by The Baramati Sahakari Bank Ltd includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including The Baramati Sahakari Bank Ltd branches in Wai and Satara, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of The Baramati Sahakari Bank Ltd and go to the branch locator section. Then search for Wai or Wai to find the exact IFSC Code BARA0000036.
Mobile Banking App
If you use The Baramati Sahakari 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 maintains an updated database of all IFSC codes. Searching for The Baramati Sahakari Bank Ltd and Wai will provide accurate information.
How to Use IFSC Code BARA0000036 for Online Transfers?
Once you have the IFSC Code BARA0000036 for the Wai branch of The Baramati Sahakari Bank Ltd in Wai, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BARA0000036. 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 The Baramati Sahakari Bank Ltd IFSC Code BARA0000036.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the The Baramati Sahakari Bank Ltd Wai in Wai, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of The Baramati Sahakari Bank Ltd in Wai, you can find it by any of the following ways:
- Check the bottom of your cheque leaf.
- Go to the first page of your passbook.
- Visit the official The Baramati Sahakari Bank Ltd website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Wai manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Wai Wai branch is BARA0000036.
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 C.S.No. 922, Sayali Complex, Wai, Tal. Wai, Dist. Satara 412803.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.