LOCATE ANY BANK BRANCH IN INDIA
Bank of Bahrain and Kuwait (BBK) was incorporated in Bahrain in March 1971 with the committed objective of providing a range of efficient and personalized banking facilities. BBK’s first overseas branch was established in Kuwait in 1978. A few years later, branches were set up in Mumbai,Hyderabad,Aluva & New delhi. With the addition of two new branches at Aluva and New Delhi, today, BBK is one of the largest commercial bank in Bahrain with 16 local branches.5 full-fledged overseas branches and a Representative Office in Dubai.
PRESENCE IN INDIA
Bank of Bahrain & Kuwait, popularly known as BBK, has a young and dedicated team of professionals to provide the best service. BBK has its presence in India since 1986 as a scheduled commercial bank.There are Four branches in India. Second in Hyderabad. Third in Aluva (Ernakulam Dist - Kerala), very close to Kochi.Fourth in New Delhi. BBK offers high quality Banking services in a quiet ambience. BBK has a wide network of correspondents all over the world to support Foreign Exchange and Trade Finance related activities. BBK offers to its customers top quality credit facilities, wide range of deposit products, NRI services, a fully equipped dealing room and a strong remittances department to give a complete banking experience.
BBK specializes in providing structured finance to mid corporates and in the SME region. It also provides ECBs to large corporates in India for eligible purposes.
BBK branches in India are equipped with full fledged NRI desk that cater to variety of needs of Non-Resident Indians like personalized banking,share market investments, portfolio investment services, mutual fund investments etc. NRIs residing in Bahrain, Kuwait and UAE can contact our dedicated NRI Services Desks established in these countries for all their needs.
What is IFSC Code
IFSC is short for Indian Financial System Code and represents the 11 digit character that you can usually see on your bank’s cheque leaves, or other bank sponsored material. This 11 character code helps identify the individual bank branches that participate in the various online money transfer options like NEFT and RTGS.
How to find IFSC Code?
Ways to find IFSC codes
- IFSC code can be found on cheque leaf and bank passbook of the respective bank.
- Banks and respective branch list of IFSC codes can be obtained from Reserve Bank of India’s website.
- The IFSC code of a particular bank can also be found on the banks’ official website.
Benefits of IFSC Code
Benefits of IFSC Code are :
- Helps to identify a Bank and its respective branch
- Eliminates errors in the process of fund transfer
- Transfers done with IFSC such as NEFT, RTGS and IMPS are accurate
What is MICR Code
MICR or Magnetic Ink Character Recognition Code is a 9 digit code used for faster processing of cheques. MICR number is also unique for every bank branch, hence it helps in uniquely identifying the bank and branch participating in an Electronic Clearing System (ECS). MICR Code like IFSC is a combination of 3 essential components:
- The first 3 digits represent the city code.
- The middle 3 represent the particular bank code.
- The last 3 digits represent the specific branch code
Benefits of MICR Code
Benefits of MICR Codes are:
MICR code enables efficient, quick and error-free processing of cheques. This is possible with magnetic ink, reading machines and technology used in MICR.
Difference between IFSC and MICR code
ink character recognition code (MICR) is a technology that enables faster
processing of cheques by recognizing unique characters printed on the cheque.
MICR consists of a 9 digit code. The
first three digits of the MICR code represent the city, the next three give the
bank code and the last three digits denote the branch of the bank. Similar to
an IFSC code, every branch of a bank has a specific MICR code. While IFSC is
used for online fund transactions, MICR is used for cheques.
Let’s understand the difference between IFSC and MICR