01-05-2017, 03:44 PM
The Karnataka State Cooperative Apex Bank Ltd. (KSC Apex Bank) IFSC Code:
The way we transfer money online has changed with the introduction of the NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) facilities. Thanks to these services, we no longer need to put up long queues at bank branches to facilitate the transfer of money within the country. Instead, customers can make online transfers of funds wherever they are and be sure of a safe and fast process.
An initiative of the Reserve Bank of India (RBI), these services were initiated to facilitate a fast channel for online funds transfers. KSC Apex Bank customers who use these services to transfer funds will have to enter the beneficiary's IFSC (Financial System Code of India) code. This code is issued by RBI to each bank branch that is part of the NEFT network and is used to identify source and destination banks in a transaction. It also serves to help RBI regulate fund transfers in the country.
The IFSC code is a set of 11 alphanumeric characters. Each IFSC code consists of the name of the bank, the branch number and the number "0" between the two. An IFSC code for the KSC branch Apex Bank in Koramangala, Bangalore district, Karnataka is KSCB0001028. The first four characters "KSCB" represents the Cooperative State Bank of Karnataka, "0" is the fifth character to be left blank for later use and "001028" is the branch number.
The way we transfer money online has changed with the introduction of the NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) facilities. Thanks to these services, we no longer need to put up long queues at bank branches to facilitate the transfer of money within the country. Instead, customers can make online transfers of funds wherever they are and be sure of a safe and fast process.
An initiative of the Reserve Bank of India (RBI), these services were initiated to facilitate a fast channel for online funds transfers. KSC Apex Bank customers who use these services to transfer funds will have to enter the beneficiary's IFSC (Financial System Code of India) code. This code is issued by RBI to each bank branch that is part of the NEFT network and is used to identify source and destination banks in a transaction. It also serves to help RBI regulate fund transfers in the country.
The IFSC code is a set of 11 alphanumeric characters. Each IFSC code consists of the name of the bank, the branch number and the number "0" between the two. An IFSC code for the KSC branch Apex Bank in Koramangala, Bangalore district, Karnataka is KSCB0001028. The first four characters "KSCB" represents the Cooperative State Bank of Karnataka, "0" is the fifth character to be left blank for later use and "001028" is the branch number.