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. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of The Shamrao Vithal Cooperative Bank for its Bharati Sahakari Bank-Palus branch in Sangli, Palus, Maharashtra, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of The Shamrao Vithal Cooperative Bank located in Sangli or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code SVCB0010016. 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 The Shamrao Vithal Cooperative Bank, Bharati Sahakari Bank-Palus, Sangli
Below in the table are the key details related to IFSC Code SVCB0010016 of The Shamrao Vithal Cooperative Bank for its branch located in Sangli, within the district of Palus in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | The Shamrao Vithal Cooperative Bank |
| IFSC Code | SVCB0010016 |
| Branch | Bharati Sahakari Bank-Palus |
| City | Sangli |
| District | Palus |
| State | Maharashtra |
| Address | Hira Complex, Karad Road, Near Pawar Hospital, A/P Palus, Tal. Palus, Dist. Sangli |
These details are crucial, not just for online banking users but also for businesses and individuals who use The Shamrao Vithal Cooperative Bank in Sangli for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code SVCB0010016 for the Bharati Sahakari Bank-Palus 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, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including The Shamrao Vithal Cooperative Bank located in Bharati Sahakari Bank-Palus, Sangli, Maharashtra, is provided a unique IFSC like SVCB0010016 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the The Shamrao Vithal Cooperative Bank branch in Sangli.
- 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 Sangli and Palus.
- 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 The Shamrao Vithal Cooperative Bank in Bharati Sahakari Bank-Palus do not get misguided to another person.
Format of the IFSC Code SVCB0010016
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 Bharati Sahakari Bank-Palus in Sangli.
For example, the IFSC Code SVCB0010016 of The Shamrao Vithal Cooperative Bank for the Bharati Sahakari Bank-Palus branch includes these elements, identifying the bank and the branch location in Sangli and Maharashtra correctly.
How to Find IFSC Code for The Shamrao Vithal Cooperative Bank?
If you are looking for the IFSC Code SVCB0010016 of The Shamrao Vithal Cooperative Bank for its Bharati Sahakari Bank-Palus branch located in Sangli, the following methods can help:
Cheque Book
The cheque book that is issued by The Shamrao Vithal Cooperative Bank includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the banks, including The Shamrao Vithal Cooperative Bank branches in Sangli and Palus, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
You can visit the official website of The Shamrao Vithal Cooperative Bank and look for the branch locator section, then search for Bharati Sahakari Bank-Palus or Sangli to get the exact IFSC Code SVCB0010016.
Mobile Banking App
If you use The Shamrao Vithal Cooperative Bank's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for The Shamrao Vithal Cooperative Bank and Sangli, then it will provide you proper information.
How to Use IFSC Code SVCB0010016 for Online Transfers?
Once you have the IFSC Code SVCB0010016 for the Bharati Sahakari Bank-Palus branch of The Shamrao Vithal Cooperative Bank in Sangli, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code SVCB0010016. Transfers are processed in batches. Suitable for personal and business payments.
RTGS
Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. You need the recipient's account details and The Shamrao Vithal Cooperative Bank IFSC Code SVCB0010016.
Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for The Shamrao Vithal Cooperative Bank Bharati Sahakari Bank-Palus in Sangli, it can result in delayed or failed transactions.
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 Shamrao Vithal Cooperative Bank in Bharati Sahakari Bank-Palus, 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 Shamrao Vithal Cooperative Bank website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Sangli manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is SVCB0010016.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is Hira Complex, Karad Road, Near Pawar Hospital, A/P Palus, Tal. Palus, Dist. Sangli located in Sangli, Palus, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.