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The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
The Shamrao Vithal Co-op. Bank Ltd. (SVC Bank) known as SVC Cooperative Bank Limited, is a scheduled bank in India that was established in 1906, being registered as a Co-operative Credit Society on 27 December 1906.
In 1988, the bank was conferred with the Scheduled status by the Reserve Bank of India. It is the first co-operative bank to provide merchant banking services. It received a permanent license to deal in foreign exchange in 1979. Presently, it has a correspondent relationship in 58 countries covering nine currencies with over 162 banks.
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology. [1]
Indian Overseas Bank (IOB) is an Indian public sector bank based in Chennai.During the nationalisation, IOB was one of the 14 major banks taken over by the government of India.
The CNAPS code is assigned to all banks in China, including foreign banks. This code is twelve digits long and is mandatory for payments to mainland China. [5] [6] India has an 11-digit alpha numeric Indian Financial System Code (IFSC). The first 4 characters indicate the financial institution, the fifth digit is 0 and the other 6 digits ...
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]