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List of IFSC code, MIRC code and addresses of all banks in India
Karnataka Bank is a leading scheduled commercial bank in India. The bank was started on February 18th, 1924 in the city of Mangalore, in Karnataka State. The Bank has over the years grown with the help of mergers with Sringeri Sharada Bank Ltd., Chitradurga Bank Ltd. and Bank of Karnataka.
With nearly 9 decades of banking experience, Karnataka bank today is at the forefront of offering professional banking services to Indian customers. The bank boasts of a national presence with close to 859 branches set up across 22 states in the country. It is managed by a professional management team and employs 8,220 staff. With nearly 1,46,000 shareholders and more than 10.21 million customers, the bank has emerged as one of the top players in the banking sector today.
Bank transfer knowledge is critical when it comes to money management. A lot of times, when you want to use an electronic payment system for money transfer, you would have come across the term IFSC Code. In all probability, you would have reached out to your respective bank branch and requested for it. Once the bank provides the code, it becomes easy to carry out and complete the transaction.
If you look closely, this code is available in your bank statement and also your cheque book or passbook. In this article, we will explain everything you need to know about the IFSC Code and how to locate it easily in the account-related documents you have from the bank.
IFSC stands for Indian Financial System Code. This eleven-digit alphanumeric code is provided by the Reserve Bank of India (RBI) to all banks who are regular participants in the online transfer system of the banking network. In this code, the first four alphabets refer to the name of the bank. The code has 0 right in the middle and the next set of numbers refer to the branch code.
IFSC code is essential in online transfer systems such as Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT) and Centralised Funds Management System (CFMS). Without IFSC code, it is impossible to carry out either of these transactions.
Normally, you can find the IFSC Code in any of your bank statements. It can also be found printed on your bank cheque book.
If you are looking for ways to find IFSC code online, follow the below-mentioned steps:
Step 1: On a website that lists IFSC codes like the CreditMantri site, select the bank name from the dropdown or list.
Step 2: Choose the state where your bank branch is located
Step 3: Choose the district as applicable
Step 4: Choose the respective bank branch from the list or dropdown
Step 5: You will be able to see the IFSC code, MICR code, contact details and address of your bank branch after following the above steps.
Karnataka Bank IFSC is made up of 11-digit alphanumeric combination which is unique to every bank and its branches. The first four characters refer to the bank name and the remaining six characters refer to the specific branch. The fifth character is set at zero for future use. Every branch code is available on the cheque leaflets provided to the account holders.
KARB0000261 is an example of IFSC Code for Karnataka Banks Sector-14, Gurgaon branch.
The bank code is ‘KARB’ and this is followed by ‘0’. The remaining characters ‘000261’ refer to the bank branch which, in this case, is Sector-14, Gurugram.
IFSC Code is primarily used during fund transfer processes such as NEFT, RTGS, and IMPS. Each of Karnataka Banks branches has a unique IFSC code. These codes are required for NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement).
Whether it is to send money or transfer funds through any fund transfer mechanisms (i.e NEFT, RTGS etc) you must enter the recipient’s bank account number and also mention IFSC code of the receiving branch to complete the transaction.
1. What is the use of IFSC code?
IFSC or Indian Financial System Code is required for identifying each of the bank branches across India. This is especially required to identify bank branches which are participants in the National Electronic Funds Transfer (NEFT) network. IFSC code is a unique 11 digit code provided to all bank branches by RBI.
2. What is the eligibility criteria for opening a Karnataka Bank savings account?
Eligibility criteria for opening a savings account with Karnataka Bank is:
3. What information is required for funds transfer via Karnataka Bank?
Here is the set of information required for funds transfer through Karnataka Bank:
4. How can I transfer funds online from one bank to another?
You can transfer funds online from one bank to another by using National Electronic Fund Transfer (NEFT), Real-time Gross Settlement (RTGS), Immediate Payment Service (IMPS), or Unified Payment Interface (UPI). It is important to have an IFSC code of the receiving bank branch for using either of the three modes.
5. Where do I find all the IFSC codes for Karnataka bank branches?
You can find the IFSC codes for Karnataka Bank branches on cheque leaflets provided by the branch or on the bank passbook. You can also look up the same on CreditMantri website.
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