State wise list of Nagpur Nagrik Sahakari Bank IFSC code, MICR code and addresses of all branches in India
(used for RTGS and NEFT transactions)
|MICR Code||MICR not provided.|
|Bank||NAGPUR NAGRIK SAHAKARI BANK|
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Have you ever faced a situation when you felt that you missed a good opportunity owing to a delay in receipt of payment? When you opt for payment through a physical medium such as Demand Draft, it involves a lengthy process wherein you first deposit the amount in the bank, then you receive a DD, which needs to be posted to the beneficiary either by post or courier. Eventually, the recipient gets the money through the bank. Introducing the technology of electronic fund transfer has made our lives a lot easier with time.
RBI introduced two systems of electronic fund transfer: National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS). Both these systems enable nationwide transfer of money from one account to another account of any bank. Both kinds of transaction require a special code for completion. The unique code is allotted by the Reserve Bank of India and is called the IFSC code or the Indian Financial System Code.
Under RBI, all the banks that have the facility of electronic fund transfer (NEFT/RTGS) have been given a code to uniquely identify each bank and their branches from the other. An IFSC code of a bank branch is usually 11 characters and may contain either only numbers or both alphabets and numbers. The first 4 characters of the code represent the identity of the bank, i.e. the name, the 5th character is always zero (0) and the last 6 characters stand for the branch of the bank.
NGSB0000010 is the IFSC code of Kamptee branch of Nagpur Nagarik Sahakari Bank of Nagpur district of Madhya Pradesh. NGSB stands for Nagapur Nagarik Sahakari Bank, the 5th character is anyway zero and the last characters 000010 is a unique code for Kamptee branch.
You can easily find your branch IFSC or MICR code, either offline or online. Offline, you can visit the branch or call the branch and simply ask then the IFSC or MICR codes or both. Apart from this, if you look at the leaves of your bank’s cheque book, you will find the IFSC code printed on each page.
Online, Nagpur Nagarik Sahakari Bank’s website also lists all the branches in its network with all details of the branch including IFSC, MICR codes, addresses and phone numbers. You can always also look into RBI’s official site, where you can find all banks under the body and their IFSC codes with other information.
BankBazaar is one among many websites which offer bank information such as IFSC and MICR codes. You can just visit their website and click on the ‘Bank IFSC Code’ tab, which takes you to a window with the following fields to enter: Bank Name, Branch Name, State, District, You can either select from the list given below or from drop-down menus. The IFSC codes, MICR codes, addresses and phone numbers are displayed instantly.
Nagpur Nagarik Sahakari Bank proudly offers NEFT and RTGS facilities, where its customers can transfer money electronically easily and efficiently via the secure channels of RBI. You can transfer money to the beneficiary bank account and settle your payments within hours or a couple of days with the help of NEFT and RTGS.
NEFT at Nagpur Nagarik Sahakari Bank:
NEFT is a reliable system of fund transfer, where you can send money from your account at Nagpur Nagarik Sahakari Bank (NNSB) to any beneficiary branch of any bank at any time. The payments are settled in batches at fixed times set by the RBI. NEFT transactions are processed on DNS (Deferred Net Settlement) basis. There is no lower or upper cap for these transactions. NNSB enables fund transfer into the beneficiary’s account on the same day of request or the next. All branches of NNSB are NEFT enabled and there is no charge for inward remittance.
The following information required for a NEFT transaction at NNSB are: Remitter’s account number and name, amount to be sent, beneficiary’s account number, name, bank name, and IFSC of the bank branch.
At NNSB, you will be charged for outward remittances through NEFT at the following rates:
|Amount to be Transferred||Fee Per Transaction|
|Up to Rs.10,000||Rs.3|
|From Rs.10,000 to Rs.1 lakh||Rs.6|
|Rs.1 lakh to Rs.2 lakh||Rs.17|
|Rs.2 lakh to Rs.5 lakh||Rs.28|
|Above Rs.5 lakh||Rs.55|
RTGS at Nagpur Nagarik Sahakari Bank:
Real Time Gross Settlement is so called as the transactions through this process are carried out real-time, as in as soon as the request is placed for it, saving the time and cost of a draft. There are no longer waiting periods in this mode of fund transfer. The fund transfer is cleared in the form of gross settlement, as in unlike in NEFT, it is not processed in batches. Each transaction is individually cleared. RTGS transactions are usually high value transactions. As it is conducted under RBI’s guidance, the mode is considered to be extremely safe, secure, final and irrevocable.
The information you need to collate before requesting for a RTGS transfer is the same as in NEFT, apart from some sender to recipient message, if any.
The inward NEFT remittance is free at NNSB, but the bank levies a charge on outward remittance based on the value of the transaction.
|Transaction Amount||Charge Per Transaction|
|Rs.2 lakh to Rs.5 lakh||Rs.28|
|Higher than Rs.5 lakh||Rs.55|
Established in 1962, Nagpur Nagarik Sahakari Bank is one of the top co-operative banks of Vidarbha. NNSB was granted ‘Scheduled Bank’ status in 1999 and ‘Multistate Scheduled Bank’ status in 2001. Nagpur Nagarik Sahakari Bank Ltd. currently has 39 branches that are fully computerized. The first branch of NNSB was opened in Gandhibagh area of Nagpur and it expanded its operation to the whole of Maharashtra, Raipur, Durg in Chattisgarh and Madhya Pradesh as well.
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