Punjab And Sind Bank IFSC Code Search

Punjab & Sind Bank IFSC is an 11 figure code formed in a way that the starting four characters indicate the bank, the fifth digit is zero and is reserved for future use. The ending 6 digits signify the Punjab & Sind Bank Branch.

Punjab and Sind Bank code				Zero	PSB's Branch code
P	S	I	B	0	0	0	0	1	9	2

The RBI is the regulatory body of the country that monitors all the banking transactions using the IFSC. Hence, IFSC helps RBI to track millions of transactions taking place around the country on an everyday basis.

IFSC uniquely recognizes a bank branch hence by entering the correct IFSC of the payee’s bank the payment is channelized to the right destination.

IFSC has moreover made the online fund transfer via NEFT, RTGS and IMPS convenient and hassle-free.

Online payment systems such as NEFT, RTGS, and IMPS have become an important tool for undergoing financial transactions. Security, availability, and cost-effective are the factors that make them required. Using the correct IFSC while transferring fund through these modes channelizes it to the correct destination. Let us know more about these modes of payment.

NEFT

1. NEFT is the abbreviation of the National Electronic Fund Transfer
2. It was introduced by the RBI in the year 2005 and at present NEFT is available at 1,48,477 branches across the country
3. Fund transfer occurs in half-hourly batches and on net-basis
4. It is operational 24*7 throughout the year but the fund settles in batches
5. NEFT is possible through both online and offline modes

RTGS

1. RTGS is the abbreviation of Real-Time Gross Settlement
2. Fund transfer occurs in real-time wherein payment is not put through any waiting period
3. It is operated by the country’s Central bank
4. There is a specific window of operation in banks for RTGS usually 7 am to 6 pm on a working day

IMPS

1. IMPS is the abbreviation of Immediate Payment Service
2. IMPS was introduced in the year 2012 by NPCI and was build upon existing National Financial Switch Network
3. IMPS is available 24*7 throughout the year even on bank holidays and the fund transfers in real-time
4. IMPS can be carried out through phone banking as well as mobile banking

IFSC is the building block of banking as it recognizes the start and the endpoint of a transaction. Here are some of the ways to find Punjab & Sind Bank IFSC & MICR Code:

IFSC Tool Locator

1. Visit the Paisabazaar IFSC Code Locator and select from the dropdown Punjab & Sind Bank
2. Next, select the state and the city for which you want the IFSC and MICR Code
3. At last, select the required bank branch

Reserve Bank of India Website

The RBI can be another platform to find the Punjab & Sind Bank IFSC Code & MICR Code. All you need to do is to visit the RBI IFSC Locator tool and then choose from the drop-down the required bank and the branch.

Some other ways to find Punjab & Sind Bank IFSC are as follows –

Cheque Book: One can find the IFSC on the top of a cheque leaf.

Passbook: One can look for the IFSC on the front page of the passbook provided by the bank.

Netbanking / Mobile Banking: These are the two digital banking platforms of the bank that can be used to get the IFSC of the required branch.

MICR stands for Magnetic Ink Character Recognition is a unique code used by the banking industry to fasten the processing and clearance of cheques. Hence MICR Code aids in faster fund transfer.

Examples:

785023002 is the MICR Code of Jorhat Branch, Assam

802023102 is the MICR Code of Arrah Branch, Bihar

MICR Code format

MICR Code is formed by the combination of 9 digits in such a way that the first three digits denote the city, the next three denote the bank and the last three are indicative of the branch.

One can refer to the following platforms to get the MICR Code of Punjab & Sind Bank

Cheque Book: One can find the MICR Code on the bottom of a cheque leaf.

Passbook: One can look for the MICR Code on the front page of the passbook provided by the bank.

Netbanking / Mobile Banking: These are the two digital banking platforms of the bank that can be used to get the MICR Code of the required branch.

SWIFT Code stands for Society for Worldwide Interbank Financial Telecommunication. These are the codes used by Bank Identifier Codes and they are used to identify a particular branch of a bank.

SWIFT Code is unique for each bank branch and usually contains 8-11 characters. The main purpose of the SWIFT Code is to carry out overseas fund transfer.

One can contact the Punjab & Sind Bank Customer Care Department to know the required SWIFT Code for fund transfer.

Punjab & Sind Bank IFSC Code:

1. It is a unique character code used for exchanging funds between the banks in India
2. IFSC aids the RBI to oversee all the banking transaction taking place across the country
3. The code consists of 11-digits

For example, PSIB0021253 is the IFSC Code of Anand Branch, Gujarat.

Punjab & Sind Bank MICR Code:

1. MICR Code is a unique code that helps in faster processing of cheques in the country
2. MICR is mostly used while filling financial forms such as SIP forms etc
3. The code comprises of 9 digits

For example, 388023001 is the MICR Code of Anand Branch, Gujarat.

Punjab & Sind Bank SWIFT Code:

1. SWIFT Code is a code that plays an essential role while transferring funds across the world
2. SWIFT Code is approved by the International Organization for Standardization
3. The code comprises of 8 to 11 characters