The Shamrao Vithal Cooperative Bank IFSC Code is an 11-digit alphanumeric code assigned by the Reserve Bank of India (RBI) to all the banks and their respective branches. IFSC stands for Indian Financial System Code and is used for electronic or online funds transfer via NEFT, RTGS or IMPS. The code hence helps in uniquely identifying a particular bank branch enabling appropriate and secure transfer of funds.
Structure of The Shamrao Vithal Cooperative Bank IFSC Code
| The Shamrao Vithal Cooperative Bank Code | Zero | The Shamrao Vithal Cooperative Bank ’s Branch Code | ||||||||
| S | V | C | B | 0 | 0 | 0 | 0 | 2 | 5 | 0 |
The above mentioned is an example of IFSC Code of The Shamrao Vithal Cooperative Bank, Delhi. The 11-digit IFSC Code is a combination of 3 essential parts. Here in the code ‘SVCB0000250’:
- The first 4 characters ‘SVCB’ indicate the bank code
- The 5th character is a ‘0’
- The last 6 characters ‘000250’ represent the branch code of Nehru Place, Delhi
How to Search for The Shamrao Vithal Cooperative Bank IFSC Code?
Below mentioned are the different ways in which a user can find the IFSC Code:
Paisabazaar IFSC Search Tool
Go to the IFSC Code search tool offered by Paisabazaar for the convenience. Follow the below listed steps:
Step 1: Visit the IFSC Search Tool offered by Paisabazaar and select bank.
Step 2: Select the state, city and the bank branch.
Step 3: IFSC code of the respective bank branch will be displayed with MICR code and other details of the respective bank branch.
The Shamrao Vithal Cooperative Bank Cheque Book and Passbook
The users can find the IFSC Code on the top left corner of the cheque leaf and also on the first page of the passbook provided by the bank.
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The account holders can also look for the MICR (Magnetic Ink Character Recognition) Code by opting for the above-mentioned options. The MICR Code is a 9-digit code used for the faster processing or clearing of cheques.
Reserve Bank of India
The users can also visit the Reserve Bank of India’s official website to search for the The Shamrao Vithal Cooperative Bank IFSC Code.
Netbanking / Mobile Banking
One can also look for the IFSC as well as MICR Code by logging in to the bank’s net banking portal or mobile banking application or by visiting the official website of The Shamrao Vithal Cooperative Bank.
How to Transfer Funds using The Shamrao Vithal Cooperative Bank IFSC Code
NEFT
NEFT or National Electronic Fund Transfer is a payment service facilitating transfer of funds from one bank to another. It is an electronic fund transfer system introduced by the Reserve Bank of India (RBI).
- Minimum Transfer Limit: Re.1
- Maximum Transfer Limit: No limit
- Inward Transaction Charges: No charges
- Service Timings: Available 24 x 7 throughout the year
RTGS
RTGS stands for Real-Time Gross Settlement and is a payment service processing transfer of funds to the beneficiary’s bank branch, in real-time and on gross basis. The RTGS service is majorly used for carrying out large-value transactions.
- Minimum Transfer Limit: Rs.2 lakh
- Maximum Transfer Limit: No limit
- Inward Transaction Charges: No charges
- Service Timings: 8 am to 6 pm Monday to Saturday (except 2nd and 4th Saturday)
IMPS
IMPS is a 24x7 instant interbank online fund transfer service, incorporated by the NPCI (National Payment Corporation of India). All individuals and corporate customers can process fund transfers 24x7, on all days (including bank holidays).
- Minimum Transfer Limit: Re.1
- Maximum Transfer Limit: Rs.2 lakh
- Inward Transaction Charges: Decided by individual member banks
- Service Timings: Available 24x7, 365 days (including Sundays and bank holidays)