Punjab National Bank IFSC Code Search

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

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.

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.

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

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

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

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.

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.

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.

PNB Passbook

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.

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

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.

• 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

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