Akola Janata Commercial Cooperative Bank IFSC or Indian Financial System Code is an 11 character alphanumeric code allocated by the Reserve Bank of India (RBI) to all the banks and their respective branches. The code helps in the unique identification of the bank branch and helps the account holders to facilitate electronic or online funds transfer using NEFT, RTGS or IMPS. The use of the IFSC Code is mandatory in carrying out the online fund transfer process.
Structure of Akola Janata Commercial Cooperative Bank IFSC Code
| Akola Janata Commercial Cooperative Bank Code | Zero | Akola Janata Commercial Cooperative Bank’s Branch Code | ||||||||
| A | K | J | B | 0 | 0 | 0 | 0 | 0 | 3 | 3 |
In the above-mentioned example, ‘AKJB0000033’ is the IFSC Code of Akola Janata Commercial Cooperative Bank, Indore, Madhya Pradesh. In the 11-digit IFSC Code, the first 4 characters ‘AKJB’ indicate the bank code, the 5th character is a ‘0’ and the last 6 characters ‘000033’ represent the branch code of Indore, Madhya Pradesh.
How to search for Akola Janata Commercial Cooperative Bank IFSC Code?
The users can find the Akola Janata Commercial Cooperative Bank IFSC Code by opting for any of the below-mentioned ways:
- IFSC Code search tool by Paisabazaar
The users can find the IFSC Code on the IFSC Code search tool provided by Paisabazaar.
- Visit the IFSC Code search tool page by Paisabazaar
- Enter the required details like the bank name, state, city and branch
- The IFSC code will be displayed in a box on the right-hand side of the page
The users can also find other details like the MICR code, branch address, and contact number, on the same displayed page.
- Akola Janata Commercial Cooperative Bank Cheque Book / Passbook: The users can find the IFSC code printed on the top left corner of the cheque leaf provided by the bank. The code can also be found on the first page of the passbook.
- The Reserve Bank of India (RBI): The IFSC code can also be found on the official website of RBI. The Reserve Bank of India provides a separate list of IFSC codes of all the banks and their respective branches.
- Net Banking / Mobile Banking: Customers can also login to the online net banking portal of the bank to get the IFSC code. One can also find the IFSC code from the bank’s official mobile application or official website.
Funds Transfer using Akola Janata Commercial Cooperative Bank IFSC Code
Akola Janata Commercial Cooperative Bank account holders can transfer funds online using their respective IFSC codes. The most commonly used fund transfer process includes NEFT (National Electronic Fund Transfer), RTGS (Real-Time Gross Settlement) and IMPS (Immediate Payment Service). While initiating any bank transfer, it is essential to identify the bank and branch of the beneficiary to avoid any possible errors, hence IFSC is mandatory for any kind of electronic or online fund transfer.
- NEFT -This is a nation-wide payment system facilitating one-to-one funds transfer. Both the originating and destination branch should be NEFT-enabled for the fund transfer process to take place.
- RTGS - This payment system enables continuous and real-time settlement of fund transfer. The RTGS system is primarily meant for large value transactions and the payment done via RTGS is final and irrevocable.
- IMPS - IMPS is a real-time payment system that is available round the clock. The service is offered by the National Payments Corporation of India (NPCI) and enables customers to transfer the money instantaneously from one bank branch to another.
| Fund Transfer Process | |||
| NEFT | RTGS | IMPS | |
| Minimum transfer value | Re.1 | Rs.2 lakh | Re.1 |
| Maximum transfer value | No limit | No limit | Rs.2 lakh |
| Transaction Charges | No inward transaction charges | No inward transaction charges | Decided by the individual bank |
| Operational Timings | Available 24 x 7 throughout the year | 8 am to 6 pm Monday to Saturday (except 2nd & 4th Saturday) | Available 365 days (24X7) |
About Akola Janata Commercial Cooperative Bank
Established in the year 1969, Akola Janata Commercial Cooperative Bank has been providing services to the common people of Maharashtra and Madhya Pradesh since then. The bank has a network of computerized 36 branches and 4 extension counters. From the point of view of social obligation, the bank has successfully formulated various schemes for the upliftment and welfare of the weaker sections of the society.