State wise list of Capital Small Finance Bank Limited IFSC code, MICR code and addresses of all branches in India
(used for RTGS and NEFT transactions)
|MICR Code||MICR not provided.|
|Bank||CAPITAL SMALL FINANCE BANK LIMITED|
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Internet banking has revolutionised the Indian banking sector. The days of snaking queues for even the simplest of processes like checking one’s account balance are a thing of the past now, with most banks providing such information through online facilities. One can do a lot more than just check account balances through online banking, as the National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS) demonstrate. The two services allow customers to transfer money wirelessly to bank accounts across the country from the comfort of their homes.
An initiative by the Reserve Bank of India (RBI) with the aim of streamlining the fund transfer process and making it more accessible to customers, the services can be used to transfer money to any bank branch in India provided the recipient’s and donor’s branches are part of the NEFT network. All branches part of this network are assigned a unique code known as an IFSC code. This code helps RBI to monitor the online transfers taking place in the country. It also identifies the donor and recipient bank branches in the particular transaction.
To transfer funds using these services, the customer has to merely enter the recipient’s details such as the recipient’s name, the amount to be transferred and bank details such as the bank name, branch and the IFSC code of the branch . He has to also specify his branch’s IFSC code and account details.
The IFSC code is 11 characters long and consists of both numerals as well as alphabets. The first four characters are the letters indicating the bank name, the fifth character is “0”, which is left blank to be used at a later date and the remainder is the code assigned to the specific branch. The IFSC Code for the Capital Local Area Bank branch located in Rurkee, Jalandhar district, Punjab is CLBL0000012, where “CLBL” stands for the Capital Local Area Bank, the next character is “0”, and “000012” is the code assigned to the Rurkee branch.
As NEFT and RTGS transfers require the IFSC codes of the donor and recipient’s bank branches, it is important to enter the correct code when making a transaction. If you are not sure of the codes, you can find them in a number of ways.
The Capital Local Area Bank prints the IFSC code of the particular branch on the cheque book leaves issued from the branch. It also prints the code on the first page of passbooks issued from the branches.
You can also find the codes on the bank’s website. Another way to find the codes is by visiting a website like BankBazaar, where you can find the IFSC and MICR codes of all NEFT network branches at a glance. On the site’s homepage, just scroll to the end and select the “Bank IFSC Code” tab. You will be taken to a page where you have to type in the bank name and fill in details like the state, district and branch name from the options provided. The site will display the codes as well as information relating to the branch, like its address, working hours and contact number.
You can use the NEFT and RTGS services and enjoy a quick, convenient and safe method of money transfer. Given below are a few details on each.
NEFT (National Electronic Fund Transfer):
The NEFT services are available from Monday to Saturday during hours as laid down by RBI. The services will not be available on second and fourth Saturdays and on bank holidays. All fund transfer requests received after the operating hours and on holidays would be settled on the following working day.
NEFT transactions are settled through the Deferred Net Settlement (DNS), where all requests received during a particular batch are settled together. There are 11 such hourly settlement batches.
Customers can transfer any amount using this service, as there is neither a minimum nor a maximum transfer amount. There is no charge for funds received through NEFT. For those looking to send money using the service, the charges are given below:
|Up to Rs. 10, 000||Rs. 2.50 for every transaction|
|From Rs. 10, 001 to Rs. 1, 00, 000||Rs. 5 for every transaction|
|From Rs. 1, 00, 001 to Rs. 2, 00, 000||Rs. 15 for every transaction|
|Rs. 2, 00, 001 and above||Rs. 25 for every transaction|
The above charges are exclusive of service tax.
RTGS (Real Time Gross Settlement):
The RTGS service at Capital Local Area Bank is available from Monday to Saturday for bank customers during timings as laid down by RBI. This service is not available on bank holidays and on second and fourth Saturdays. Requests received after the specified timings and those received on bank holidays will be processed on the subsequent working day.
Transfer requests made using this service are settled in a span of 2 hours from the request being made, making this the fastest online fund transfer method in the country. Each transaction is settled individually as soon as the request is received, as opposed to NEFT, where transactions are grouped and then settled. While there is no cap on the amount that can be sent using RTGS, each transaction has to be a minimum of Rs. 2 lakh.
There is no charge on incoming RTGS transactions. The rates for outgoing transactions is mentioned in the table:
|Rs. 2, 00, 001 to Rs. 5, 00, 000||Rs. 30 for every transaction|
|Rs. 5, 00, 001 and above/td>||Rs. 55 for every transaction|
The charges mentioned above are not inclusive of service tax.
The Capital Local Bank was set up in 2000. It currently has 42 branches and it operates in the state of Punjab. While still a young bank, it has made inroads in the rural areas in Punjab, providing a number of financial services at affordable costs to rural communities. At present, the bank provides deposits, loans, NRI services as well as foreign exchange and fund transfer services.
Capital Local Area Bank in Punjab is aiming to achieve a four-fold growth in its business within a span of five years. The state’s first small finance bank expects to record business worth Rs.12,000 crore by 2020-2021. The bank also plans on an expansion of its branches to Haryana, Rajasthan and Delhi in the next financial year.
Capital Local Area functions in five districts, namely – Amritsar, Hoshiarpur, Jalandhar, Ludhiana and Kapurthala. It intends to expand its branch network to 76 by adding 19 more branches. Capital Local Area Bank is NEFT and RTGS enabled and customers of the bank can make electronic fund transfers using these facilities. The IFSC codes of all branches of the bank can be obtained from the official website.
11th May 2016
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