Shivalik Mercantile Cooperative Bank Ltd IFSC and MICR Code:

State wise list of Shivalik Mercantile Cooperative Bank Ltd IFSC code, MICR code and addresses of all branches in India

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Shivalik Mercantile Co-operative Bank Limited IFSC Code:

The advent of technology has revolutionised the way people make payments. Ever since the Reserve Bank of India introduced various electronic fund transfer methods, paying and receiving money has become extremely simple. The three modes RBI introduced are National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS). All of these payments methods are tied together by IFSC (Indian Financial System Code), which facilitates easy and secure transfer of money from one bank to the other. Under the RBI mandate, all banks that come under the NEFT network are assigned an IFS code, which helps distinguish the various parties (sender and receiver) involved in a transaction.

The IFSC code is basically a 11-digit alphanumeric code which is assigned to all the NEFT network members. It consists of three parts: the first four alphabetic characters help identify the name of the bank, fifth character is a zero by default, and the last 6 characters denote the bank branch.

Here’s what Shivalik Mercantile Co-operative Bank’s IFSC Code for Saharanpur looks like: SMCB0000001. In the example provided above, the first 4 characters signify the bank’s name, the fifth character is a zero by default, and the last 6 characters signify the bank branch’s address.

How to search for SMC Bank’s IFSC and MICR Codes?

Finding IFSC and MICR Code of SMC Bank is rather simple. In case you are looking for SMC Bank’s IFSC or MICR Code you can easily find them online, either on SMC Bank’s official website or on third-party websites that provide information on financial products.

SMCB offers plenty of secure ways for you to transfer and receive money from/to other SMCB and other banks’ accounts in the country. People looking to transfer their money can use RTGS, NEFT, or IMPS processes to complete their transaction.

National Electronic Fund Transfer (NEFT):

Shivalik Mercantile Co-operative Bank offers an NEFT process which makes electronic fund transfers simple and effortless. If NEFT is done through the bank’s online portal, customers aren’t required to pay any cess. On the other hand, if you send a manual application for NEFT, you should pay a nominal charge as per RBI’s guidelines. The timing for NEFT is from 8 am to 6:45 pm on all working days.

Real Time Gross Settlement (RTGS):

RTGS is yet another swift method of money transfer, wherein the funds are transferred in real time. RTGS usually happen on a much faster timeframe when compared to NEFT as there are no inter bank constraints. For RTGS, the timings followed by SMCB is from 8 am to 4:15 pm.

Interbank Mobile Payment System (IMPS):

IMPS uses mobile phones to transfer money from one account to the other. To do an IMPS, your mobile phone must be registered with your bank branch. You should also provide the beneficiary’s MMID and mobile number too. Once the transaction is successful, you get a confirmation by way of SMS that the money has indeed reached the beneficiary’s account. Shivalik Bank is currently working on bringing its IMPS operational, which is expected to happen within the next few months.

Officially registered in the year 1997, Shivalik Mercantile Co-operative Bank only started its operations from the 5th of September 1998. With a deposit base that goes beyond Rs.100 crores, SMCB is UP’s first ever multi-state bank. Currently the bank has 21 branches, of which 19 of them are located in Uttar Pradesh while the other two are in Madhya Pradesh.

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