Tumkur Grain Merchants Cooperative Bank IFSC Code is an 11-characters alphanumeric code allotted by the Reserve Bank of India (RBI) to all the bank-branches participating in the online fund transfer process via NEFT, RTGS or IMPS. IFSC is the acronym for Indian Financial System Code and is a unique identifier enabling the electronic transfer of funds conveniently. The code helps to identify both the originating and destination bank branch, making it easier for the fund transfer process to take place.
Format of Tumkur Grain Merchants Cooperative Bank IFSC Code
In the 11-character IFSC Code, the first 4 characters represent the bank code, the 5th character is a ‘0’ and the last 6 characters represent the specific branch code.
| Tumkur Grain Merchants Cooperative Bank Code | Zero | Tumkur Grain Merchants Cooperative Bank’s Branch Code | ||||||||
| T | G | M | B | 0 | 0 | 0 | 0 | 0 | 2 | 0 |
The above given is the IFSC Code of Tumkur Grain Merchants Cooperative Bank, Bangalore, Karnataka. Here in the 11-digit code (TGMB0000020), the first 4 characters ‘TGMB’ represents the bank code, the 5th character is a ‘0’ and the last 6 characters ‘000020’ represent the branch code of JP Nagar, Bangalore.
Where to find Tumkur Grain Merchants Cooperative Bank IFSC Code?
The user can opt for any of the below mentioned ways to find the IFSC as well the MICR (Magnetic Ink Character Recognition) Code:
- IFSC Code search tool by Paisabazaar: The user needs to visit the IFSC Code search tool page provided by Paisabazaar and select the bank name, state, city and branch name. The IFSC and MICR Code along with other details will be displayed on the right-hand side of the page.
- Cheque Book and Passbook: The IFSC Code can be found on the top left corner of the cheque leaf while the MICR Code is present at the bottom. The codes can also be found on the first page of the passbook provided by the bank.
- RBI: Both the IFSC and MICR codes can separately be found on the official website of the Reserve Bank of India.
- Internet / Mobile Banking: The code can also be found on the bank’s official net banking portal or the official mobile banking application.
Online Funds Transfer using Tumkur Grain Merchants Cooperative Bank IFSC Code
The use of IFSC Code is mandatory in carrying out the electronic or online transfer of funds using NEFT, RTGS or IMPS. Given below is the detailed explanation of the payment services:
NEFT - National Electronic Fund Transfer
The NEFT payment service is used in the facilitation of funds transfer from one bank account to another. The service was introduced by the Reserve Bank of India (RBI).
| Payment Service | Minimum & Maximum Transfer Limit | Service Charges | Operational Timings |
| NEFT | Minimum: Re 1 Maximum: No limit |
No charges | 24 x 7 (entire year) |
RTGS - Real Time Gross Settlement
RTGS payment service involves the transfer of funds in real-time and on a gross basis. The RTGS service is mostly used for large value transactions.
| Payment Service | Minimum & Maximum Transfer Limit | Service Charges | Operational Timings |
| RTGS | Minimum: Rs 2 lakh Maximum: No limit |
Up to Rs. 49.50 plus applicable taxes (as per RBI) | 7 am to 6 pm all working days (except 2nd & 4th Saturday) |
IMPS - Immediate Payment Service
IMPS payment service enables the transfer of funds quickly and instantly to the beneficiary’s bank branch. The service can be accessed anytime and from anywhere.
| Payment Service | Minimum & Maximum Transfer Limit | Service Charges | Operational Timings |
| IMPS | Minimum: Re 1 Maximum: Rs 2 lakh |
Decided by individual bank | Available 24x7, 365 days (including Sundays & bank holidays) |