Punjab National Bank IFSC is an 11- figure code prescribed by the Reserve Bank of India for all the registered financial institutions in India. IFSC enables various money transfer systems to locate the bank branch of an account holder resulting in seamless fund transfer.
PUNB0669700 is the IFSC of Dang Ahwa Branch, Gujarat
PUNB0749400 is the IFSC of Aroor Branch, Kerala
PNB IFSC Code Format
PNB IFSC is structured in a way that:
- The first four digits usually alphabets are indicative of the bank
- The fifth digit is zero which is kept for the future use
- The last six digits which are usually a mix of alphabets and numbers are indicative of the bank branch
|Bank code||Zero||Branch code|
In the above example, the IFSC Code of PNB Delhi Cantt branch is PUNB0011200 where PUNB represents the bank code and 0011200 is the Delhi Cantt branch code.
Why do we need the PNB IFSC Code?
While making a bank transfer it is important to identify the bank branch where the beneficiary’s account is held and the IFSC is made to do just that. Hence sending and receiving money between two banks entirely depends on the IFSC.
Moreover, IFSC helps the RBI to keep a record of all the transactional activities occurring across the country. IFSC not only helps in quick fund transfer but also makes funds transfer an error-free process.
IFSC is the base of banking in India as it ensures the smooth functioning of banking transactions without any mistake.
How to transfer money using the PNB IFSC Code?
With the coming of payment systems like NEFT, RTGS, and IMPS, the process of money transfer has become convenient and less time-consuming. Now people don’t have to wait for days to receive money in their bank accounts. One thing that is common in all these payment systems is the correct usage of the IFSC. Let us learn more about these payment systems.
NEFT was started by the RBI for the benefit of customers as it allows electronic fund transfer between the banks. NEFT is based on Deferred Settlement Basis and the fund settles in batches.
NEFT functions 24*7 throughout the year but the money is credited into the beneficiary’s account in batches.
There is no limit on the amount of money to transferred by NEFT according to the RBI.
RTGS can be defined as a fund transfer system in which there is the continuous settlement of funds on instruction by instruction basis. Unlike the NEFT, funds are settled in real-time in case of RTGS.
RTGS has a fixed operational timing as per the RBI. These timings can differ slightly from bank to bank.
RTGS facility is usually meant for the large value transactions hence there is no such maximum limit of fund transfer.
IMPS is the newest digital payment system introduced by the NPCI in the year 2012. IMPS has gained popularity because of its mechanism of transferring funds instantly in real-time.
Unlike RTGS and NEFT, IMPS can be carried out anytime a customer wants. It works 24*7 irrespective of bank holidays in India.
How to find the PNB Bank IFSC Code & MICR Code?
IFSC is the basic unit of money transfer in India. With the correct usage of the IFSC sending and receiving of money become easy and hassle-free. Here are the ways to look for the PNB IFSC.
IFSC Tool Locator: Paisabazaar offers a comprehensive tool for speedy and accurate IFSC search. Simply visit the Paisabazaar IFSC Tool Locator and choose the required state, city, and branch of PNB whose MICR and IFSC you are looking for.
Reserve Bank of India Website: RBI monitors all the transactional activities taking place in the country. IFSC too helps the RBI to monitor the monetary transactions happening in the country. Hence, one can visit the RBI website if looking for the IFSC and MICR Code of any PNB branch.
Where to find the PNB IFSC Code?
Customers can use the below-mentioned platforms to find the PNB IFSC.
PNB Cheque Book
To find the IFSC code of PNB, account holders can look for the cheque book provided by the PNB.
Cheque contains IFSC mentioned on the top of the page and the MICR Code mentioned at the bottom of the page.
The basic banking information of an account holder is mentioned on the front page of the passbook. This basic information consists of the account number, address of the account holder along with the IFSC. Thus a passbook is of help when looking for an IFSC.
PNB Netbanking Portal
PNB offers its customers the Netbanking facility to avail of several banking services according to their convenience. Hence the Netbanking facility can be used by an account holder to look for the IFSC.
PNB Mobile Banking Apps
PNB Mobile Banking also provides an option to look for the required PNB IFSC.
What is the PNB MICR Code?
The full form of MICR Code is Magnetic Ink Character Recognition. It is a unique Code used in the banking industry for speeding the process of cheque clearance.
Both IFSC and MICR codes play an important role in fund transfer processes.
MICR Code is composed of 9-characters in such a manner that
- The first three digits denote the city
- The next three denote the bank
- The last three represent the bank branch
Where to find PNB MICR Code?
PNB Cheque Book: In order to find the IFSC code of PNB, account holders can look for the cheque book provided by the PNB.
PNB Passbook: One can refer to the passbook issued by the bank during the time account opening.
PNB Netbanking Portal: The Netbanking facility can be used by an account holder to look for MICR Code.
PNB Mobile Banking Apps: PNB Mobile Banking also provides an option to look for the required PNB IFSC. Simply log in to the app and search for the MICR Code.
What is the PNB Swift Code?
- SWIFT Code consists of a combination of digits used to identify a bank branch during international transactions. SWIFT Codes are unique for each bank and they are the standard format of BIC.
- SWIFT Code consists of 8 to 11 digits
- One needs to contact PNB Customer Care Department to get the SWIFT Code
Difference between PNB IFSC, MICR & SWIFT Code
PNB IFSC Code
- The full form of the IFSC is the Indian Financial System Code
- It is an 11-figure unique code used for streamlining the fund transfer process among various bank branches
- This code is used for all the banking transactions happening in the country
PNB MICR Code
- MICR stands for Magnetic Ink Character Recognition
- MICR Code is a 9-character code that is used for identifying the banks and their branches involved in the Electronic clearing System
- Just like the IFSC, MICR code is used for facilitating fund transfer across the country
PNB SWIFT Code
- SWIFT Code stands for Society for Worldwide Interbank Financial Telecommunication
- Swift Code consists of 8 to 11 digits used for fund transfer through the messaging system. The messaging system allows various banks to share their economic data
- SWIFT Code is used to exchange funds at the international level
How to find out the PNB Branch by using the IFSC code?
IFSC is a unique code used for recognition for bank branches taking part in various funds transfer systems like NEFT, RTGS, and IMPS, etc. One can find out the PNB branch using the IFSC by taking into consideration the last six digits of the IFSC.
How to search the PNB IFSC Code by account number?
An account number cannot be used to search PNB IFSC instead one can choose any of the below mentioned ways:
- Paisabazaar IFSC Locator
- RBI Website
- PNB Chequebook
- PNB Digital Banking platforms
- PNB Passbook
What is the PNB CIF Number?
- Every bank maintains a computerized file storing all the information of an account holder. The information contains the account details, loan history, KYC details, etc of an account holder
- Bank uses this number to examine the customer data when required
- The structure of a CIF number differs from bank to bank
Read More: Punjab National Bank Savings Account
Does PNB Credit Card have IFSC Code?
The IFSC Code can only be used while making a payment through the credit card. A credit card as such does not have any kind of IFSC.
Read More: PNB Credit Card Bill Payment
What is the PNB BSR Code?
- BSR Stands for Basic Statistical Returns
- BSR code is a code allocated to each bank branch by the RBI to identify the submission of tax returns to the RBI by the Income Tax Department
- BSR is formed by the combinations of 7 digits and is a unique code
How to find the PNB branch Code?
IFSC is the base of banking in India as it ensures the smooth functioning of fund transactions without any error. To find the IFSC code of PNB, one is required to look at the last six digits of the code. The last six digits of IFS are indicative of the PNB branch.