what is ifsc code of the central bank of India?
When making financial transfers, it’s important to make sure that your money is going to the right place. To ensure that this happens, each bank branch has a unique identifier known as an IFSC code. The IFSC Code of the Central Bank of India is an 11-digit alpha-numeric code that helps to identify the bank branch. In this article, we will discuss what the IFSC Code of the Central Bank of India is and how you can use it for financial transactions.
What is an IFSC code?
For the purpose of electronic money transfers, a bank branch is identified by its 11-digit IFSC code. The bank name is represented by the first four letters of the IFSC code, while the branch location is represented by the final six digits. You must enter the recipient’s IFSC code in order to send or receive an electronic fund transfer.
What is the IFSC code for the Central Bank of India?
Central Bank of India is one of the leading banks in India and its IFSC code is very important. The bank has a vast network of branches across the country and the IFSC code helps to identify the correct branch for any transaction.
The full form of IFSC is Indian Financial System Code and it is an alphanumeric code that is used to identify a particular bank branch for electronic transactions like NEFT or RTGS.
The first four characters of the IFSC code represent the name of the bank, while the last six characters represent the specific branch’s code. In the case of the Central Bank of India, the first four characters are ‘CBIB’.
Thus, the IFSC code for Central Bank of India would be ‘CBIBXXXXXX’, where ‘XXXXXX’ represents the unique code for a particular branch.
An IFSC code is an 11-digit code that is used to identify a particular bank branch when making electronic payments. This code is assigned by the Reserve Bank of India (RBI) to all banks in India for the purpose of facilitating interbank transactions.
The first four characters of an IFSC code represent the name of the bank, while the last six characters represent the specific branch of that bank. In order to make a payment using an IFSC code, you will need to provide this code to your payee.
When making a transfer via NEFT or RTGS, you will be asked to enter the IFSC code of the beneficiary bank branch. This is essential in order for the transaction to be processed correctly. You can typically find the IFSC code printed on the cheque leaves issued by the bank, as well as on their official website.
Conclusion
The IFSC code of Central Bank of India is CBIN0284034. This code is an important detail for making electronic payments through NEFT, RTGS and IMPS services. It is essential to verify the accuracy of the recipient’s bank details when using these services to avoid erroneous transfers. We hope that this article has helped you understand what an IFSC code is and how it can be used in your banking transactions.