Jammu and Kashmir Bank IFSC Code refers to an 11 character long alpha-numeric code. This IFSC Code is used to identify all the bank branches, distinctly. J&K Bank IFSC Code has various uses such as:
- Helps in the electronic fund transfer between the branches of a bank
- Can also be used in the inter-bank transfer of money
- Helps in the electronic payment methods such as NEFT, RTGS, and IMPS
Format of Jammu and Kashmir Bank IFSC Code
The IFSC Code is used to identify the bank branch from other bank branches. However, account holders can look at the below-mentioned format of Jammu and Kashmir IFSC Code for a better understanding.
J&K Bank IFSC Code of Dwarka (Delhi) branch is JAKA0DWARKA.
|Bank code||Zero||Branch code|
- In Jammu and Kashmir Bank IFSC Code, the first 4 characters (JAKA) stands for the bank’s name i.e. Jammu and Kashmir Bank
- The fifth character is ‘0’ which is the same for all banks
- The last 6 characters (DWARKA) stands for the Jammu and Kashmir branch code for J&K Bank Sector 12, Dwarka branch
How does the Jammu and Kashmir Bank IFSC Code work?
In order to transfer funds to a particular payee, one has to provide details including the name of the payee, account number, IFSC code of the receiving Jammu and Kashmir Bank branch, and the amount.
Once the remitter provides all these details, he/she will be able to transfer funds to the beneficiary easily as Jammu and Kashmir Bank IFSC code helps to avoid errors in such transactions.
How to Search the Jammu and Kashmir Bank IFSC Code and MICR Code?
Account holders can look for Jammu and Kashmir Bank IFSC Code and MICR Code by any of the ways mentioned below:
Paisabazaar IFSC Search Tool
|Jammu and Kashmir Bank IFSC Code can be found using the online IFSC Search Tool offered by Paisabazaar by following the steps mentioned below:|
Jammu and Kashmir Bank Cheque Book
Jammu and Kashmir Bank Passbook
|Customers can also check Jammu and Kashmir Bank IFSC Code on their account passbook provided by the bank|
Note: Customers can also go to the Reserve Bank of India’s official website to check J&K Bank IFSC Code.
How to make Fund Transfer using Jammu and Kashmir Bank IFSC Code?
Customers can transfer funds via below-mentioned modes:
National Fund Transfer Transaction (NEFT) – Customers can transfer money via NEFT which refers to a nation-wide payment system that helps in transferring funds from one bank account to another. However, to transfer funds via NEFT, the sender has to provide details such as:
- Name of the Recipient
- The IFSC Code of the Beneficiary Bank Branch
- Type of account i.e. Savings or Current Account
- Account Number
Real-Time Gross Settlement (RTGS) – Account holders can make fund transfer using RTGS, which stands for Real-Time Gross Settlement. The term “Real Time” stands for the processing of instructions as soon as they are receieved. Whereas, “Gross Settlement” stands for the settlement of funds which happens individually. RTGS is generally used for high-value transactions (more than Rs. 2 lakh) and the money is transferred instantly.
The sender needs to provide the following details to transfer money via RTGS:
- Name of the Payee
- Account Number
- IFSC Code of the receiving Bank Branch
Immediate Payment Service (IMPS): It is an instant payment inter-bank electronic funds transfer system in India via mobile phones. IMPS is also extended through ATM and Net Banking.
However, in the case of transferring money from a person to account, the sender needs to provide details such as:
- Name of the Beneficiary
- Account Number of the Beneficiary
- Type of Account
- IFSC Code of the Beneficiary Bank
In case of transferring money from the person to person, the following details are required:
- Mobile Money Identifier (MMID) of the beneficiary
- Mobile Number of the beneficiary
- Name of the beneficiary
About Jammu and Kashmir Bank
Jammu and Kashmir Bank, incorporated in 1938, is now listed on the NSE and the BSE. The bank offers various types of banking and financial services to its customers such as deposit accounts, loans, investments, fixed deposit schemes, debit cards, and credit cards, etc.