State wise list of Central Bank of India IFSC code, MICR code and addresses of all branches in India
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The IFSC is an 11 character alphanumeric code which can be broken down into three parts. The first 4 characters represent the name of the bank, the fifth character is always zero and reserved for future use while the last 6 characters are usually numeric, but may also be alphanumeric and denote the branch of the particular bank. For example, the Central Bank of India IFSC code for Udupi branch located in Karkala is ‘CBIN0283152’. Here, the first 4 characters ’CBIN’ represent the name of the bank, the fifth character is zero and the last 6 characters ‘283152’represent the branch which is located in Karkala, Udupi, Karnataka.
Electronic money transfer has made life easier for us in many ways. Not only does it save time but is also one of the most secure modes of money transfer. Central Bank of India offers this facility to its customers by way of NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) services. Both these services have been introduced by RBI, allowing banks to let customers transfer money, not only to other CBI bank accounts but also to accounts held with other banks. NEFT and RTGS services of money transfer make use of a unique code known as the IFSC code. This code is issued by the RBI to all banks which are a part of the NEFT network and helps regulate the process of funds transfer by identifying the source and destination bank for transactions.
If you are looking for the IFSC or MICR codes of Central Bank of India, you can find them printed on the cheque leaves of cheque books issued by the bank. Each cheque book will have the IFSC code of the branch from where it has been issued. You can also find the bank’s IFSC codes on its website. Alternately, you can search for the bank’s IFSC codes on multiple third party websites online. However, one easy way to look for Central Bank of India IFSC and MICR code is to go to the BankBazaar website. At the bottom of the website’s main page, find the tab labelled ‘’Bank IFSC code’. Once you click on that, you will be redirected to another page which features 4 drop down menus, asking you to input the name of the bank, the state, district it is in, along with the branch that you’re looking for. Once you have input all this information, the page will immediately display the information about the specific bank branch like its IFSC code, MICR code, address and contact number.
Transferring money via NEFT and RTGS is extremely simple, convenient and secure. The process is easy to comprehend and hardly takes any time. Following are the two ways by which you may electronically transfer money.
NEFT:
NEFT or National Electronic Funds Transfer is an electronic system of making payments introduced by the RBI to help customers make reliable, economical and secure fund transfers to banks within India. NEFT transactions will be done on a Deferred Net Settlement basis where transactions are carried out on an hourly basis. To transfer funds, the remitter must furnish necessary information about the beneficiary like their name, account number, name of beneficiary’s bank and branch, along with the IFSC code for the branch where the money is being remitted. There is no maximum or minimum limit on the amount for NEFT transactions. However, for walk-in customers who wish to carry out an NEFT transaction, the transaction amount must not exceed Rs 50,000. NEFT transactions will be done by the bank between 8 AM to 7 PM and can be done 24x7 via net banking.
Amount |
Charge (per transaction) |
Up to R 10,000 |
Rs 2.50/- + Service Tax |
Rs 10,000 – Rs 1 lakh |
Rs 5/- + Service Tax |
Rs 1 lakh – Rs 2 lakh |
Rs 15/- + Service Tax |
Above Rs 2 lakh |
Rs 25/- + Service Tax |
RTGS:
RTGS or Real Time Gross Settlement is another modern, integrated and robust method of making payments electronically, introduced by the RBI. RTGS facilitates inter-bank transactions on an immediate and real time basis. RTGS transactions are processed as and when the instructions are received and ne transaction is done at a time, therefore eliminating any scope of delay. These transactions are irrevocable and final. The minimum limit for an RTGS transaction is Rs 2 lakh and there is no maximum limit.
Broad timings for customer payments and bank payments are as follows:
Serial No. |
Event |
Time |
1 |
Open For Business |
8:00 AM |
2 |
Initial Cut-off (R-41) Customer Payments |
2:15 PM |
3 |
Final Cut-off (R-42) Inter Bank Payments |
7:30 PM |
Block |
Timings |
Charges (per transaction) |
1 |
8:00 AM – 12:00 Noon |
Nil |
2 |
After 12 Noon – 3:30 PM |
Rs 1.00 |
3 |
After 3:30 PM – 5:30 PM |
Rs 5.00 |
4 |
After 5:30 PM – 7:30 PM |
Rs 10.00 |
Established in the year 1911, Central Bank of India is one of the nation’s oldest and largest commercial banking institutions. Based in Mumbai, the bank operates via a widespread network of over 4000 branches and 5000 ATMs. The bank offers an extensive suite of financial products and services which include deposits, loans, agri-banking, NRI banking, cards, etc.
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