Telangana State Coop Apex Bank IFSC Code is an 11-digit alphanumeric assigned to each of its branches by the Reserve Bank of India (RBI). IFSC stands for Indian Financial System Code and helps in the electronic or online transfer of funds using NEFT, RTGS or IMPS. The IFSC Code is unique for every bank branch, hence no 2 branches can have the same IFSC code.
Telangana State Coop Apex Bank IFSC Code: Structure
| Telangana State Coop Apex Bank Code | Zero | Telangana State Coop Apex Bank’s Branch Code | ||||||||
| T | S | A | B | 0 | 0 | 1 | 8 | 0 | 3 | 0 |
The above-mentioned code ‘TSAB0018030’ is the IFSC Code of Telangana State Coop Apex Bank, Velpur, Telangana. Here in the 11-digit IFSC Code, the first 4 characters indicate the bank code, the 5th character is a ‘0’ and the last 6 characters ‘018030’ represent the branch code of Velpur, Telangana.
How to find Telangana State Coop Apex Bank IFSC & MICR Code?
The users can find the IFSC Code by opting for any of the below-listed ways:
- IFSC Code Search Tool by Paisabazaar: The user can visit the IFSC Code search tool page provided by Paisabazaar and enter required details like the bank name, state, city and branch name. The IFSC Code along with MICR (Magnetic Ink Character Recognition) Code and other details will be displayed on the right-hand side of the page.
- Cheque Book: The IFSC Code can be seen printed on the top left corner of the cheque leaf, while the MICR Code is printed at the bottom.
- Passbook: Both IFSC and MICR Code can be found on the first page of the passbook provided by the bank.
- RBI: The Reserve Bank of India provides a separate list of both IFSC and MICR Code on its official website.
- Net / Mobile Banking: The codes can also be found on the bank’s official website or by logging into the netbanking portal or bank’s mobile application.
Funds Transfer using Telangana State Coop Apex Bank IFSC Code
The use of IFSC Code is mandatory in facilitating the electronic or online funds transfer using NEFT, RTGS or IMPS. Also, the IFSC Code is used by the RBI to monitor all the financial transactions performed by an individual. Given below is the detailed description of the widely used payment services:
NEFT (National Electronic Funds Transfer)
NEFT is a payment system facilitating transfer of funds from one bank branch to another. The service is based on a deferred arrangement and the funds are settled in 23 half-hourly batches. Also, both the remitter and beneficiary’s banks should be NEFT-enabled for the process to take place.
- Minimum Transfer Limit: Re 1
- Maximum Transfer Limit: No limit
- Operational Timings: Available 24x7 throughout the year
- Inward Transaction Charges: No charges
RTGS (Real-Time Gross Settlement)
RTGS is a payment service in which the funds are settled instantaneously in real-time and on a gross basis. The service is majorly opted for large-value transactions. Both the originating and destination banks should be RTGS-enabled for the fund transfer process to take place.
- Minimum Transfer Limit: Rs.2 lakh
- Maximum Transfer Limit: No limit
- Operational Timings*: 8 am to 4:30 pm Monday to Saturday (except 2nd & 4th Saturday)
- Inward Transaction Charges: No charges
IMPS (Immediate Payment Service)
IMPS is a quick and instant payment service that is available 24x7. The service can be accessed throughout the year (including bank holidays and Sundays). The service is faster and more secure when compared to NEFT or RTGS.
- Minimum Transfer Limit: Re.1
- Maximum Transfer Limit: Rs.2 lakh
- Operational Timings: Available 24x7, 365 days (including bank holidays & Sundays)
- Inward Transaction Charges: Decided by the individual bank
About Telangana State Coop Apex Bank
The Telangana State Coop Apex Bank got registered under State Cooperative Societies Act on 26th March 2015. The bank has commenced its business from 2nd April 2015 onwards and has been catering to the banking needs of different sections of society since then. The bank has a wide network of 42 branches with 36 on-site ATMs, 5 ATMs at metro stations and 1 mobile ATM.