LOCATE ANY BANK BRANCH IN INDIA
Bank’s
Preface
The saga
of Bank of Ceylon (BOC) began on 1st
of August 1939 under Bank of Ceylon Ordinance No. 53 of 1938, the Governor of
Ceylon, Sir Andrew Caldecott, declared open the maiden office of Sri Lanka’s
first state-owned commercial bank in Fort, Colombo.
BOC is a licensed commercial bank established
under the Banking Act No. 30 of 1988.The registered office is situated at No.
01, BOC Square, Bank of Ceylon Mawatha, Colombo 01, Sri Lanka.
Engaged
In
Today
having completed more than seven decades of glorious existence, the Bank is
firmly entrenched as Sri Lanka’s premier financial services organization
offering a broad range of services consists of commercial banking, trade
finance, development financing, mortgage financing, lease financing, investment
banking, corporate financing, dealing in Government securities, pawn brokering,
credit card facilities, off-shore banking, foreign currency operations and
other financial services. BOC holds the leadership position in its assets,
deposits, and foreign currency remittances.
In
Island Map and Beyond
As
Bankers to the Nation, BOC reached out to all citizens of the country through
its largest network over 627 branches connected online. BOC ATM network over
730 in numbers, serve the people 365 days 24 hours in all 25 districts of the
country. The Bank has 13 Subsidiaries and 5 associate companies in its group
structure.
BOC
diversified its operations in the United kingdom by upgrading its first
overseas branch, London branch to a fully fledged bank operating as a
subsidiary of BOC named Bank of Ceylon UK Ltd. BOC operates in 03 overseas
locations, namely, Maldives,Chennai and Seychelles. 2 ATMs are located in Maldives.
BOC
represents the highest worldwide network with over 865 overseas correspondent
banks and exchange companies. To serve the migrant communities of the
country, we have expanded our services through our representatives at the
exchange houses in Qatar, the United Arab Emirates, Kuwait, Bahrain, Oman, the
Kingdom of Saudi Arabia, Israel, Jordan, Italy, South Korea, France and Japan.
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
Magnetic
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
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