List of IFSC Codes of RTGS Participant Banks

            I have been receiving quite a number of queries, on IFSC Codes of different bank branches.

            IFSC Code, is like the pin code of the Beneficiary account.

The complete list of IFSC Codes, can be obtained

01) At the Reserve Bank of India website.

02) Respective Bank Website.

03) On the Cheque Leaf of the Beneficiary’s Account.

                         

IFSC expands to   Indian Financial System Code (IFSC). IFSC  is being used as the addressing code in user-to-user message transmission. The Payment System Applications such as RTGS, CFMS and NEFT developed by the Reserve Bank of India use these codes. The code consists of 11 Characters - First 4 characters (4A) represent the entity; Fifth position has been defaulted with a ‘0’ (Zero) for future use; and the Last 6 character (6X) denotes the branch identity.

 

For Eg: VYSA00005560, stands for ING Vysya Bank, Indore Branch.

BARB0MAINOF, stands for Bank of Baroda, Main Offce, Baroda

 

I have mentioned here, the IFSC’s of Controlling Units of the Banks.

This can be used as a cross-check, of the Beneficiary’s IFSC Code.

 

List of RTGS Particpants
Bank Name	IFSC Code	IFSC Code starts with
Abu Dhabi Commercial Bank	ADCB0000001	ADCB0
Abhyudaya co-op Bank Ltd.	ABHY0065001	ABHY0
ABN Amro Bank N.V.	ABNA0000001	ABNA0
Allahabad Bank	ALLA0888888	ALLA0
Andhra Bank	ANDB0TRESUY	ANDB0
Bank of America	BOFA0MM6205	BOFA0
Bank of Bahrain & Kuwait	BBKM0000001	BBKM0
Bank of Baroda	BARB0TREASU	BARB0
Bank of India	BKID000PIGW	BKID0
Bank of Maharashtra	MAHB0003007	MAHB0
Bank of Novascotia	NOSC0000MUM	NOSC0
Bank of Rajsthan	BRAJ0003350	BRAJ0
Bank of Tokyo Mitsubishi Ltd.	BOTM0003611	BOTM0
Barclays Bank PLC	BARC0INBB01	BARC0
Bharat Co-Op Bank Ltd.	BCBM0000999	BCBM0
BNP Paribas	BNPA0009066	BNPA0
Canara Bank	CNRB0RTGS01	CNRB0
Catholic Syrian Bank Ltd.	CSBK0000001	CSBK0
Caylon Bank	CRLY0000001	CRLY0
Central Bank of India	CBIN0281102	CBIN0
Chinatrust Commercial Bank Ltd.	CTCB0000001	CTCB0
Citi Bank	CITI000PIGW	CITI0
Citizencredit Co-Op Bank Ltd.	CCBL0209003	CCBL0
City Union Bank Ltd.	CIUB0000082	CIUB0
Corporation Bank	CORP0000920	CORP0
COSMOS Co-operative Bank	COSB0000025	COSB0
Dena Bank	BKDN0999999	BKDN0
Deutsche Bank Ltd.	DEUT0784BBY	DEUT0
Deutsche Securities (I) Pvt.	DSIP0INDBBY	DSIP0
DBS Bank	DBSS0IN0811	DBSS0
Development Credit Bank	DCBL0000037	DCBL0
Dhanalakshmi Bank Ltd	DLXB0000146	DLXB0
Dombivli Nagri Sahakari Bank Ltd	DNSB0000001	DNSB0
DSP Merrill Lynch	DSPM0000001	DSPM0
Federal Bank	FEDB0000379	FEDB0
HDFC Bank LTd.	HDFC0999999	HDFC0
Hongkong & Shanghai Bkg Corpn	HSBC02INDIA	HSBC0
ICICI Bank Ltd	ICIC0TREA00	ICIC0
ICICI Securities & Ltd	ISEC0000001	ISEC0
IDBI LTD.	IBKL0009998	IBKL0
IDBI Capital Market Services Limited	ICMS0000001	ICMS0
Indian Bank	IDIB000C080	IDIB0
Indian Overseas Bank	IOBA0009016	IOBA0
IndusInd Bank Ltd.	INDB0000098	INDB0
ING Vysya Bank	VYSA0000001	VYSA0
Jammu and Kashmir Bank Ltd	JAKA0DEALER	JAKA0
Jankalyan Shakari Bank Ltd.	JSBL0000001	JSBL0
JP Morgan Chase Bank, N A	CHAS0INBX01	CHAS0
Kalupur Commercial Co-op Bank	KCCB0RTGS4C	KCCB0
Karnataka Bank Ltd.	KARB0000001	KARB0
Karur Vysya Bank Limited	KVBL0001260	KVBL0
Kotak Mahindra Bank Ltd	KKBK0000632	KKBK0
Krung Thai Bank PCL	KRTH0INBB01	KRTH0
Maharashtra State Co-operative Bank Ltd.	MSCI0082002	MSCI0
Mashreq Bank	MSHQ0000001	MSHQ0
Mizuho Corporate Bank Ltd.	MHCB0000532	MHCB0
New India Co-op Bank Ltd	NICB0000001	NICB0
North Kanara G.S.B. Co-Op. Bank Ltd.	NKGS0000001	NKGS0
Nutan Nagarik Sahakari Bank Ltd	NNSB0000001	NNSB0
Oman International Bank SAOG	OIBA0000001	OIBA0
Oriental Bank of Commerce	ORBC0100000	ORBC0
PNB Gilts Limited	PNBG0000001	PNBG0
Punjab & Maharshtra Co-Op Bank	PMCB0000001	PMCB0
Punjab & Sind Bank	PSIB0000001	PSIB0
Punjab National Bank	PUNB0244200	PUNB0
Ratnakar Bank Ltd.	RATN0000070	RATN0
Reserve Bank of India	RBIN0RBIPI0	RBIN0
Saraswat Co-operative Bank Ltd.	SRCB0000092	SRCB0
SBI DFHI Ltd.	SBDF0000001	SBDF0
Securities Trading Corporation of India Ltd.	STCI0000001	STCI0
Shamrao Vithal Co-op Bank Ltd	SVCB0000001	SVCB0
Shinhan Bank	SHBK0000001	SHBK0
Societe Generale	SOGE0INBB00	SOGE0
South Indian Bank	SIBL0002002	SIBL0
Standard Chartered Bank Ltd.	SCBL0036001	SCBL0
State Bank Indore	STIN0003351	STIN0
State Bank of Hyderabad	SBHY0000600	SBHY0
State Bank of India	SBIN0004343	SBIN0
State Bank of Mauritius	STCB0000065	STCB0
State Bank of Mysore	SBMY0TREA00	SBMY0
State Bank of Travancore	SBTR0000999	SBTR0
State Bank of Bikaner & Jaipur	SBBJ0010303	SBBJ0
State Bank of Patiala	STBP0000758	STBP0
Syndicate Bank	SYNB000RTGS	SYNB0
Tamilnad Mercantile Bank Ltd	TMBL0009999	TMBL0
Thane Janta Shakari Bank	TJSB0000001	TJSB0
The Greater Bombay Co-op Bank	GBCB0000001	GBCB0
The Kapol Co-operative Bank Ltd.	KCBL0000016	KCBL0
The Laxmi Vilas Bank Ltd	LAVB0000883	LAVB0
The W. B. State Coop Bank Ltd	WBSC0000001	WBSC0
UCO Bank	UCBA0000001	UCBA0
Union Bank of India	UBIN0550451	UBIN0
United Bank of India	UTBI0HOA139	UTBI0
UTI Bank Ltd	UTIB0000001	UTIB0
Vijaya Bank	VIJB0009502	VIJB0
Yes Bank Ltd.	YESB0000001	YESB0

 

ePayments- No Holidays till 1st July, 2009

 ePayments – No Holidays till 1^st July, 2009

            The whole of May’2009 and June’2009, is open for ePayments. In fact, the next ePayments Holiday is 1^st July, 2009 on account RBI's Annual Closing of Accounts.

Normally, during May, June, July, August, every year, the number of Bank Holidays will be minimal, and it is more so for ePayments.

             This spell should see a good number of folks, experience the magic of ePayments.  Now, the Annual Results of the Companies have been declared, Share Holders will be eagerly waiting for the Dividends to be credited to their Bank Accounts.

             This year, Indian companies, are likely to distribute the majority of Dividends through ePayments i.e(NEFT/ECS). ePayments, will reduce the TAT, and also lead to lower costs.

   

New Pension Scheme from 1st May,2009-Not ePayments friendly.TOPIC OF THE WEEK

 

 

 New Pension Scheme from 1st May,2009-Not ePayments friendly.

All citizens of the country will be able to avail of pension facility from tomorrow, with the interim pension regulator Pension Fund Regulatory and Development Authority (PFRDA) confirming the scheduled launch of the mega pension plan in a statement today.
"The necessary infrastructure for the rollout of New Pension System (NPS) is now ready and it will be available to all citizens of India from May 1, 2009," PFRDA said.

 Tier-I of NPS constituting non-withdrawable pension account will become operational from tomorrow and Tier-II (withdrawable account) of the NPS account will become operational in about six months.

This is a big step towards financial security, in the twilight years. The Offer Document can be accessed at 

http://pfrda.org.in/writereaddata/linkimages/Offer%20Document957798914.pdf

The offer document is comprehensive, user-friendly and all the participants should stabilize in the next six months. To access the Scheme, PFRDA has appointed 22 Points Of Presence(POP’S), whose network i.e Service Points, will support this scheme. This 22 POP’s are mainly Banks and other financial intermediaries.

Bank of India is the trustee Bank, and detailed Service Level Agreement, between PFRDA and Bank of India is in place.

The contributions will be accepted in Cash/Pay-Order and Demand Draft, and also through ECS. Out Station Cheques will not be accepted.

The TAT for the first contribution to be credited is 15 days,and subsequent contributions is 7 days.

 However, it is surprising to note that PFRDA, has not explored the option of receipt of the contributions thru ePayments mode, especially NEFT.  Maybe, the Consultants have not briefed PFRDA, the benefits of NEFT.

 

As the scheme is just rolled out, PFRDA should also welcome contributions through NEFT. This will increase the comfort level for the subscribers, as well as reduce the TAT for the credit to the respective pension accounts.   

 

With a professional central record-keeping agency in place, National Pension Scheme, will be preferred choice for private sector.  The IT industry has already a preliminary meeting with PFRDA, to finalize the modalities. In fact, it would be a good idea, to insist a NPS Account, at the time of match-making!!

Trust PFRDA, will initiate steps to receive contributions through NEFT also.