State wise list of Punjab and Sind Bank IFSC code, MICR code and addresses of all branches in India
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With the NEFT and RTGS facilities, transferring money from one account to the other within India has become very easy. These facilities allow for easy and safe transfer of funds electronically at a few clicks of a button. Introduced by the Reserve Bank of India (RBI) to ease the process of fund transfers, this would save you from long lines and long drawn out processes to send funds from your account to another one within India. National Electronic Funds Transfer (NEFT) can be used by any customer of Punjab and Sind bank. If you are looking at sending money wirelessly using this facility, you would have to enter the IFSC code of the recipient’s bank branch to complete the transaction. Issued by RBI, an IFSC code is a unique code that is issued to every bank branch that is part of the NEFT network. The code helps in regulating transactions and in identifying the source bank as well as the recipient’s bank making the transaction.
IFSC code is an 11 character alphanumeric code. This code contains both alphabets as well as numbers, and is used to denote the particular bank branch. The first four characters represent the bank’s name. The fifth character is zero, which is left blank for later use. The remaining six characters represent the bank branch’s code. So for example, a Punjab and Sind Bank branch in Ambala City in Haryana has an IFSC Code that is PSIB0000004. Here, the first four characters “PSIB” stand for Punjab and Sind Bank, the fifth character is 0, and the last six characters “000004” stand for the branch located in Ambala City, Ambala district, Haryana.
Searching for Punjab and Sind Bank’s IFSC code & MICR code is a very simple process. The particular branch’s IFSC code is printed on the leaves of the cheque book issued by the branch. You can also find the codes on the Punjab and Sind Bank website. Another way to find a particular branch’s IFSC code is to use a service like BankBazaar. All you have to do is go to the homepage, scroll to the bottom of the page and select the “Bank IFSC” tab. Just enter in the details requested on the page and you will receive the bank branch’s IFSC and MICR code. You will have to enter the name of the bank, which would be Punjab and Sind bank. After this, you will have to select the district, state and the bank branch from the options provided.
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Punjab and Sind Bank’s NEFT and RTGS services make online money transfer quick and easy. This is a quick, secure and safe method to send money across banks throughout India. Given below is information on how you can avail the services.
National Electronic Funds Transfer (NEFT):
Punjab and Sind Bank account holders can use the NEFT facility from Monday to Saturday, excluding the second and fourth Saturdays in a month. Amounts transferred using NEFT are cleared hourly from 8:00 am to 7:00 pm. Any transfer requests made after this time or made on holidays will be processed on the next business day. There is neither a lower limit nor a ceiling for NEFT transactions, which is why it is fast becoming the method of choice to transfer money.
The bank levies a charge for the NEFT facilities it provides, which are as follows:
The above rates are exclusive of service tax and education cess.
RTGS (Real Time Gross Settlement):
RTGS services are offered by the bank as a means to make online money transfers through a secure channel. This is the quickest means to transfer money electronically in the country. RTGS transactions take place on a real time basis, which means the transactions take place as soon as the request is made. As a result, once a request is made through RTGS, it is irrevocable and final. This service is generally used for large transactions. The minimum amount that can be transferred is Rs. 2 lakh. There is no upper limit on transactions.
The bank offers this service to its customers Monday to Saturday, except on second and fourth Saturdays in a month. The service is available during banking hours as specified by RBI.
The charges levied by the bank are as follows:
From Rs. 2 lakhs to Rs. 5 lakhs:
|
Settlement Time |
Charges |
|
|
From |
To |
|
|
8:00 am |
12:00 pm |
Rs. 25 for every transaction |
|
12:01 pm |
3:30 pm |
Rs. 26 for every transaction |
|
3:31 pm |
5:30 pm |
Rs. 30 for every transaction |
|
5:31 pm onwards |
Rs. 30 for every transaction |
|
From Rs. 5 lakh onwards:
|
Settlement Time |
Charges |
|
|
From |
To |
|
|
8:00 am |
12:00 pm |
Rs. 50 for every transaction |
|
12:01 pm |
3:30 pm |
Rs. 51 for every transaction |
|
3:30 pm |
5:30 pm |
Rs. 55 for every transaction |
|
5:31 pm onwards |
Rs. 55 for every transaction |
|
The above rates are exclusive of service tax and education cess.
The Punjab and Sind Bank is a Government owned bank with its headquarters in New Delhi. The bank was established in 1908 and it currently has over 1460 branches throughout India. It was nationalised in 1960. The bank continues to maintain the vision and values of its founders, blending social awareness and responsibility with quality service to its customers. The bank offers services like loans, deposits, international banking as well as locker facility, among many others.
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With its decision to raise 500 crore through BASEL III bonds, the share price of Punjab and Sind Bank, saw a healthy surge by 0.15, trading currently at Rs. 52.55 on the Bombay Stock Exchange - a 0.29% increase from its previous day’s closing at Rs. 52.40. The share price opened at Rs. 52.70 and touched Rs. 52,95 before falling to Rs. 52.05 momentarily. The latest figures indicated that an on the counter trading of 12,929 have taken place. The bank’s shares recently soared to Rs. 58.25 on 8 September 2016, marking a 52-week high while also seeing a 52-week low at Rs. 31.55 on 25 February 2016. Over the previous one week, the shares saw a low and high of Rs. 49 and Rs. 53.50 respectively. The New Delhi headquartered bank’s market cap is currently valued at 2096.15 crore.
7th October 2016
