Jammu and Kashmir Bank IFSC code & MICR code

These services, NEFT and RTGS, were specifically designed to facilitate fast, secure, and efficient transfers of funds between bank accounts within India. Any bank that participates in the NEFT network allows its customers to access these services. Both payment systems have become crucial for individuals and businesses who need to move money quickly and reliably. 

The Role of IFSC Code in Transactions

One of the key elements that make both NEFT and RTGS transactions secure is the use of the IFSC (Indian Financial System Code). This 11-digit alphanumeric code, assigned by the RBI, plays a crucial role in ensuring the smooth and safe transfer of money. The IFSC code not only helps identify the source and destination banks during a transaction but also allows the RBI to regulate the movement of funds. Its use helps eliminate any risks and ensures the safety of monetary transfers. 

Structure of the IFSC Code 

The IFSC code is made up of three distinct parts: 

1. First Four Characters: These represent the bank's name. 

1. Fifth Character: Always a "0", reserved for future use. 

1. Last Six Characters: These represent the specific branch of the bank. 

For example, the IFSC code for J&K Bank’s Air Cargo branch in Srinagar is "JAKA0AIRCAR". Here, "JAKA" represents the bank name, "0" is the reserved character, and "AIRCAR" denotes the specific branch located in the Air Cargo area of Srinagar. 

Ensuring Safe Transactions

By ensuring that every transaction is correctly identified with an IFSC code, NEFT and RTGS systems have made transferring money across India not only easier but also more secure. The implementation of the IFSC code plays a significant role in eliminating errors and ensuring that funds reach their intended destination without delay. 

These systems have made financial transactions faster, safer, and more reliable, ensuring that electronic money transfer is now a smooth and hassle-free process for users across the country. 

How to Search for Jammu and Kashmir Bank (JK Bank) IFSC and MICR Codes?

The IFSC (Indian Financial System Code) and MICR (Magnetic Ink Character Recognition) Code are unique codes assigned to every bank branch in India. These codes are essential for online transactions, NEFT, RTGS, and cheque processing. If you need to find the IFSC and MICR code of any Jammu and Kashmir Bank (J&K Bank) branch, follow these simple steps:

Method 1: JK Bank Official Website

The most reliable way to find the IFSC and MICR codes is through the official website of J&K Bank. 

1. Visit the official JK Bank website at https://www.jkbank.com. 

1. Look for the “Branch Locator” or “IFSC Code” section, usually found under the "Services" or "Contact Us" menu. 

1. Select the State, District, and Branch Name from the given drop-down options. 

1. The website will then display the branch address, IFSC code, MICR code, and contact details. 

Method 2: RBI (Reserve Bank of India) Website

The RBI website has a complete database of all banks operating in India, including their IFSC and MICR codes. 

1. Go to the RBI official website at https://www.rbi.org.in. 

1. Click on “IFSC/MICR Codes” from the menu or search bar. 

1. Select Jammu and Kashmir Bank from the list of banks. 

1. Choose the State, District, and Branch Name. 

1. The website will display the IFSC and MICR codes along with other branch details. 

Method 3: BankBazaar Website

Several financial service websites, such as BankBazaar, provide IFSC and MICR code details for all banks. 

1. Visit BankBazaar’s IFSC Code page at https://www.bankbazaar.com/ifsc-code.html. 

1. Scroll down to find the “Search IFSC Code” section. 

1. Select the Bank Name (Jammu and Kashmir Bank). 

1. Choose the State, District, and Branch Name from the dropdown options. 

1. The page will immediately display the IFSC Code, MICR Code, Branch Address, and Contact Details. 

Method 4: Check Your Cheque Book 

Every cheque book issued by JK Bank contains IFSC and MICR codes printed on each cheque leaf. 

1. Open your Jammu and Kashmir Bank cheque book. 

1. Look at the bottom of any cheque leaf. 

1. The IFSC Code is usually printed near the account number. 

1. The MICR Code is printed at the bottom, next to the cheque number. 

How to Transfer Money Using Jammu & Kashmir Bank NEFT and RTGS Service

Transferring money using the NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) services provided by J&K Bank is both simple and convenient. These services, introduced by the RBI, allow customers to send funds quickly, securely, and with ease. Whether you're transferring money to another J&K Bank account or to an account with any other bank that participates in the NEFT network, both methods are highly efficient. To initiate either of these transactions, you will need to fill out an Application Form. 

NEFT (National Electronic Funds Transfer)

NEFT is a fast, reliable, and secure way to transfer money across India. One of the major benefits of NEFT is that there is no limit on the amount of money you can transfer, giving you the flexibility to send funds according to your needs. Whether you're sending money to another J&K Bank branch or to any bank within the NEFT network, the process is seamless. 

This system saves time and reduces the costs associated with cheque handling, making it an ideal choice for those who need to move money quickly and efficiently. The NEFT service is available during specific hours: weekdays from 9 AM to 6:30 PM and on Saturdays from 9 AM to 12:45 PM. Transactions made during these hours are processed hourly, ensuring that funds are transferred promptly. 

Key Features of NEFT Transactions

1. Availability: NEFT transactions can be initiated on weekdays from 9 AM to 6:30 PM and on Saturdays from 9 AM to 12:45 PM. 

1. Settlement Timing: Transactions are settled on an hourly basis during operational hours. 

1. Flexibility: No upper or lower limit on transaction amounts. 

1. Cost-Effective: Reduces costs related to cheque handling. 

RTGS (Real Time Gross Settlement)

While NEFT is designed for smaller to medium-sized transactions, RTGS is ideal for large-value transfers. It processes transactions in real-time, ensuring that the funds are transferred immediately upon initiation. RTGS is available on all working days from 9 AM to 4:30 PM, providing customers with the flexibility to transfer larger sums securely and without delay. 

Schedule of Charges for NEFT Transactions

The charges associated with NEFT transactions vary depending on the amount being transferred. J&K Bank has a transparent and structured fee schedule that applies to different transaction amounts. It is always a good idea to check the latest fee details before initiating a transfer to understand the applicable charges.

RTGS (Real Time Gross Settlement) for High-Value Transfers

For customers looking to transfer larger sums of money, J&K Bank provides the RTGS (Real Time Gross Settlement) service. This service is designed for fast, secure, and cost-effective high-value transactions, making it an ideal choice for transferring amounts above Rs 2 lakh. RTGS allows for real-time processing, ensuring that the transaction is executed immediately upon receipt of the payment instructions. 

Key Features of RTGS Transactions

1. Minimum Transfer Amount: The minimum amount for an RTGS transaction is Rs 2 lakh. 

1. Real-Time Processing: Unlike other payment methods, RTGS transactions are processed individually and immediately, ensuring no waiting time for the transfer to be completed. 

1. Security: RTGS provides enhanced security compared to paper-based transactions, significantly reducing the chances of fraud. 

1. Cost-Effective: As no cheque handling charges are involved, RTGS transactions are a more economical option for large transfers. 

The timings for RTGS transactions are as follows:

The schedule of charges for RTGS payments is as follows:

About Jammu and Kashmir Bank (JK Bank)

The Jammu and Kashmir Bank, also known as J&K Bank was founded in the year 1938 by the Maharaja of Jammu and Kashmir, Hari Singh. The bank commenced operations in 1939, acting as a universal bank in the state of Jammu and Kashmir and as a specialized bank in the rest of India. The bank operates via a well spread network of 821 computerized branches and over 900 ATMs located across the country. Serving a diverse customer base, the bank offers a well-appointed range of financial products and services like consumer banking, corporate banking, private banking, cash management, credit cards, mortgage loans and more.

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