IFSC Code of The Shamrao Vithal Cooperative Bank, Akola, Akola, Maharashtra — SVCB0000166

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 Shamrao Vithal Cooperative Bank for its Akola branch in Akola, Akola, 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 Shamrao Vithal Cooperative Bank located in Akola or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code SVCB0000166. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.

Details of IFSC Code for The Shamrao Vithal Cooperative Bank, Akola, Akola

Here are some of the key details that come with the IFSC Code SVCB0000166 of The Shamrao Vithal Cooperative Bank for its branch located in Akola, within the district of Akola in the state of Maharashtra.

These details are crucial, not just for online banking users but also for businesses and individuals who use The Shamrao Vithal Cooperative Bank in Akola for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SVCB0000166 for the Akola branch of The Shamrao Vithal Cooperative Bank 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, along with The Shamrao Vithal Cooperative Bank located in Akola, Akola, Maharashtra, are given a unique IFSC like SVCB0000166 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It clearly tells which bank branch it is in Akola.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It prevents any kind of confusion between different branches of the same bank in places like Akola and Akola.
• It reduces errors in fund transfers and improves accuracy.
• It helps the sender banks to validate and confirm branch details before processing payments.

It helps ensure that any money sent to The Shamrao Vithal Cooperative Bank in Akola goes to the correct branch. This is important because The Shamrao Vithal Cooperative Bank has thousands of branches in Maharashtra and all over India, and the IFSC Code prevents payments from going to the wrong place.

Format of the IFSC Code SVCB0000166

The format of the IFSC Code for banks, including The Shamrao Vithal Cooperative Bank, has an 11-character structure:

AAAA0CCCCCC

Here's the breakdown:

• First 4 characters (AAAA): Show the bank code. For The Shamrao Vithal Cooperative Bank, 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 Akola in Akola.

For example, the IFSC Code SVCB0000166 of The Shamrao Vithal Cooperative Bank for the Akola branch includes these elements, identifying the bank and the branch location in Akola and Maharashtra correctly.

How to Find IFSC Code for The Shamrao Vithal Cooperative Bank?

If you are trying to find the IFSC Code SVCB0000166 of The Shamrao Vithal Cooperative Bank for its Akola branch located in Akola, the following methods can help:

Cheque Book

The cheque book issued by The Shamrao Vithal Cooperative Bank 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 Shamrao Vithal Cooperative Bank branches in Akola and Akola, print them on the first page of your passbook.

Bank Website

Visit the official website of The Shamrao Vithal Cooperative Bank and navigate to the branch locator section. Search for Akola or Akola to get the exact IFSC Code SVCB0000166.

Mobile Banking App

If you use The Shamrao Vithal Cooperative Bank'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 Shamrao Vithal Cooperative Bank and Akola, you'll get the correct details.

How to Use IFSC Code SVCB0000166 for Online Transfers?

Once you have the IFSC Code SVCB0000166 for the Akola branch of The Shamrao Vithal Cooperative Bank in Akola, you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code SVCB0000166. 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 Shamrao Vithal Cooperative Bank IFSC Code SVCB0000166.

No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the The Shamrao Vithal Cooperative Bank Akola in Akola, 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 The Shamrao Vithal Cooperative Bank in Akola, 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 Shamrao Vithal Cooperative Bank website.
• Search the RBI portal.

If you know both IFSC and MICR codes, then it can help account holders in Akola manage online transfers as well as cheque clearances with ease.