[ecis2016.org] Know all about IFSC code, where to find it, format of IFSC code and the Airtel payments bank ltd IFSC code and branch in this article.
What is an IFSC code?
IFSC stands for Indian Financial System Code. It’s an eleven-digit code written in an alphanumeric format that identifies the branch in the National Electronic Fund Transfer (NEFT) network. The RBI (Reserve Bank of India) uses IFSC to track electronic money transfers between banks. An IFSC code will contain four letters representing a bank’s name, followed by six numbers representing a specific branch of the bank.
Check out: What is IFSC code of a Bank
Why do you need to know IFSC code?
IFSC code is important for the RTGS (Real Time Gross Settlement) and NEFT (National Electronic Fund Transfer) transactions. It allows efficient money transfers between Indian and international bank accounts. IFSC code allows IMPS (Immediate Payment Service) transactions between bank account holders. IFSC code lets account holders transfer funds anytime.
Where to find IFSC code?
- If you know the name of a bank and its branch, you can visit the RBI website and search through its list of banks and codes.
- You can ask the bank for their IFSC code.
- You can find the IFSC code on the bank’s official websites and mobile applications.
- You can find the IFSC code on the bank’s statements and cheques.
Format of IFSC code
- The first four characters are alphabets denoting the bank name.
- The code of each branch of the same bank will begin with the same four letters.
- The fifth character is zero.
- The remaining six characters are digits or numbers that denote the branch code.
What is a MICR code?
MICR stands for Magnetic Ink Character Recognition. It is a 9-digit code printed at the bottom of the cheque. It helps identify the cheque and speed up its processing in a banking system.
Features of MICR code:
- It appears at the bottom of the cheque.
- It contains information such as the bank code, account information, cheque number, and amount.
- It uses various alphanumeric characters in formation.
- Globally accepted for transferring funds from one country to another.
- They are printed with magnetic ink and unique fonts and cannot be duplicated.
- Each bank has its own MICR codes.
Airtel Payments Bank IFSC code is AIRP0000001, and it is operating in the Gurgaon district. The bank is located at Airtel Centre, Plat No-16, Udyog Vihar, Phase-4, Gurgaon. The banks operate from Monday to Saturday, from 10 am to 4 pm However, 2nd and 4th Saturdays are non-working days for Airtel Payments Bank Limited.
|Airtel Payments Bank Limited Essential Information|
|IFSC||AIRP0000001 (used for RTGS and NEFT transaction)|
|Bank||Airtel Payments Bank Limited|
|Address||Airtel Centre, Plat No-16, Udyog Vihar, Phase-4, Gurgaon|
|Branch||Airtel Payments Branch|
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What is the IFSC code of the Airtel Payment Branch and Bank?
The IFSC code of Airtel Payment Branch and Bank is AIRP0000001
What is the address of Airtel bank?
AIRTEL CENTRE, PLAT NO-16, UDYOG VIHAR, PHASE-4, GURGAON, HARYANA
What are the requirements for opening an Airtel bank account?
An Aadhar card is required to open an Airtel bank account. Customers can opt for a non-Aadhar card-based account by visiting an Airtel Bank and filling out the account opening form. Here, customers need to share their pan card details.
What are the minimum and maximum limits for cash deposit and cash withdrawal?
Minimum cash deposit: Rs 10 Maximum cash deposit with pan card: Rs 1,00,000 Maximum cash deposit without pan card: Rs 49,990 Minimum cash withdrawal: Rs 10 Maximum cash withdrawal limit (per transaction): Rs 25,000
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