IFSC is an acronym for the Indian Financial System Code. It is basically a unique 11-figure code assigned by the RBI to all the financial institutions in India. IFSC forms the base of banking in India as no fund transaction is possible without the IFSC. Sending and receiving of money depends entirely on the IFSC as it helps to identify the sending and the receiving branch during the process of fund transfer.
Examples:
ORBC0101156 is the IFSC Code of Jorhat Branch, Assam
ORBC0101216 is the IFSC code of Arah Branch, Bihar
Format of Oriental Bank of Commerce IFSC
IFSC is formed in a manner that the first four figures represent the Oriental Bank of Commerce. The next figure is zero and it remains zero for all the banks. The last six digits are a mix of numbers and alphabets that indicate a bank branch of the Oriental Bank of Commerce.
| Bank Name | ZERO | Branch Code | ||||||||
| O | R | B | C | 0 | 1 | 0 | 1 | 1 | 5 | 6 |
Why do we need the Oriental Bank of Commerce IFSC Code?
Oriental Bank of Commerce IFSC is the base of banking as fund transfer is not achievable without it. It is necessary to enter the IFSC Code of the sender’s and receiver’s bank to complete the transaction.
IFSC helps the RBI to oversee all the transactions taking place across the country. Hence there are no chances of errors and the fund transfer takes place smoothly.
Be it online banking or traditional mode of banking, IFSC plays an important role in fund transfer by identifying the bank branches involved in fund transfer.
How to transfer money using the Oriental Bank of Commerce IFSC Code?
One can transfer money via these money transfer systems namely NEFT, RTGS, and IMPS. IFSC makes electronic payment via these money transfer systems easier.
| NEFT | RTGS | IMPS |
| NEFT is the abbreviation of Nation Electronic Fund Transfer | RTGS is the abbreviation of Real time Gross Settlement | IMPS is the abbreviation of Immediate Payment System |
| NEFT is a fund transfer system wherein the fund are transferred in half-hourly batches and is available 24*7 | Fund transfer under RTGS takes places in real time and on a gross basis | Fund transfer under IMPS wherein the funds are transferred in real time |
| One needs to have all the beneficiary details like the account number, branch address and the IFSC to transfer funds using NEFT the facility | One needs to have all the beneficiary details like the account number, branch address and the IFSC to transfer funds using the RTGS facility | IMPS can be done through various channels like
|
How to find the Oriental Bank of Commerce Bank IFSC Code & MICR Code?
Below are some of the platforms to find the Oriental Bank of Commerce Bank IFSC Code & MICR Code
Paisabazaar IFSC Tool Locator: Visit the IFSC Tool Locator offered by Paisabazaar and find out the required Oriental Bank of Commerce Bank IFSC Code & MICR Code. Select the bank and the branch whose IFSC Code & MICR Code you need.
Reserve Bank of India Website: IFSC Code & MICR Codes of all branches of Oriental Bank of Commerce Bank are available on the RBI website.
Where to find the Oriental Bank of Commerce IFSC Code?
Cheque Book: IFSC code can be found on the Cheque book provided by the Oriental Bank of Commerce Bank. The IFSC Code can be seen on the top and the MICR Code is mentioned at the bottom.
Passbook: One can also look for the IFSC and the MICR Code on the passbook assigned by the Oriental Bank of Commerce.
Mobile Banking / Net Banking: Customers after registering for the bank’s mobile banking and net banking can find the required IFSC and MICR code.
What is the Oriental Bank of Commerce MICR Code?
MICR is the abbreviation for Magnetic Ink Character Recognition. It is an 11-digit numeric code used for validating cheques before the clearance. It is just like a barcode but can be easily read by a human. MICR code helps in quicker and errorless processing of cheques.
Examples:
813022002 is the MICR Code of Banka branch, Bihar
799022002 is the MICR Code of Agartala branch, Tripura
Where to find Oriental Bank of Commerce MICR Code?
Cheque Book: MICR code can be found on the Cheque book provided by the Oriental Bank of Commerce Bank. MICR Code can be seen at the bottom along with the cheque number.
Passbook: One can also look for the MICR Code on the passbook assigned by the Oriental Bank of Commerce.
Mobile Banking / Net Banking: Customers after registering for the bank’s mobile banking and net banking can find the required MICR code easily.
Alternatively, one can use the Paisabazaar IFSC Tool Locator and the RBI Website for the same.
What is the Oriental Bank of Commerce SWIFT Code?
SWIFT Code stands for Society for Worldwide Interbank Financial Telecommunications and is an important parameter for international fund transfer. SWIFT Codes are unique for each bank and are the standard format of the Bank Identifier Codes (BIC).
SWIFT Code is formed of 8 to 11 characters wherein the first four characters represent the bank the next two denote the country and the last two denote the branch or the location.
How to find the Oriental Bank of Commerce SWIFT Code?
An Account holder is supposed to get in touch with the Oriental Bank of Commerce Customer care department to find out the required SWIFT Code.
Difference between Oriental Bank of Commerce IFSC, MICR & SWIFT Code
Oriental Bank of Commerce IFSC:
IFSC is an 11-digit code that enables online and electronic fund transfer.
IFSC code is formed in a way that the first four figures represent the Oriental Bank of Commerce. The next figure is zero and the last six digits are a mix of numbers and alphabets that indicate a bank branch of the Oriental Bank of Commerce.
Oriental Bank of Commerce MICR Code:
MICR is a 9-digit code usually present at the bottom of a cheque leaf and helps in quicker and errorless processing of cheques.
MICR is formed in such a manner that the first 3 digits are indicative of the city, the next 3 denote the bank and the last three denote the branch.
Oriental Bank of Commerce SWIFT Code:
SWIFT Code or SWIFT number is a unique code required for international fund transfer.
SWIFT Code is formed of 8 to 11 characters wherein the first four characters represent the bank the next two denote the country and the last two denote the branch or the location.
FAQs
How to find out the Oriental Bank of Commerce Branch by using the IFSC code?
Oriental Bank of Commerce IFSC Code is an 11-digit code that uniquely identifies a bank branch. The code is composed in such a way that the last six characters denote the bank branch of the Oriental Bank of Commerce.
How to search the Oriental Bank of Commerce IFSC Code by account number?
Searching for an account number by an IFSC Code is not possible. IFSC is used to exchange funds between various banks.
What is the Oriental Bank of Commerce CIF Number?
All the account holders are assigned a unique CIF Number or Customer Information Number which stores all the information of a customer. CIF Number is used by the bank to keep track of an account holder’s details.
What is the Oriental Bank of Commerce BSR Code?
BSR Code also known as the Basic Statistical Code is a 7-digit code allocated by the RBI to all the banks in India. This code helps the bank to keep a track of all the payments made towards tax by the customers.
How to find the Oriental Bank of Commerce branch Code?
One can find out the branch code from the last six digits of the IFSC code.
Let us consider an example ORBC0101512 is the IFSC of Banka Branch, Bihar wherein “101512” represents the branch.