LOCATE ANY BANK BRANCH IN INDIA
Syndicate Bank Registered Office: Manipal - 576104
Bank was established in Udupi, coastal Karnataka, the abode of Lord Sri
Krishna, with a capital of just Rs. 8000 / -. He was a businessman, engineer
and doctor respectively on October 20, 1925, by Pai and had a firm faith in
social welfare. Their main objective was to provide financial assistance to the
local weavers by collecting small savings from the society as the situation in
the handloom industry worsened due to the crisis in the handloom industry. The
bank, through its agents, started in 1928, used to collect nominal amounts of
two arrivals daily by reaching the door-to-door of the depositors through its
agents. The scheme has become the brand equity of the bank today and the bank
is collecting an amount of Rs.2 crores per day under this scheme.
Pragati Yatra of SyndicateBank has been synonymous with various stages of progressive banking in India. The Bank has built a strong customer base consisting of two or three generations of customers over a long period of 80 years due to its guiding role and visionary policies. The bank has a vision of a future India, with its strong hold in rural areas and a broad understanding of the ground reality. The bank has benefited immensely from its fundamentals of achieving progress through mutual support of both the bank and the public. The bank is acting as a catalyst across the country at the individual level in terms of the common man and at the regional level in the context of rural / semi-urban centers.
The bank is committed to successfully meeting the challenges of the 21st century in the fields of information technology, knowledge and competition. A comprehensive Supra. The scheme has been formulated and the skills and knowledge of bank employees are being enhanced through various training programs to further enhance customer delight in all their activities. The bank has launched an ambitious technology scheme called Centralized Banking Solution, whereby our major 500 branches are able to operate their ATMs over a period of four years. Including countries will be connected to a wide network. Our bank is a pioneer among the public sector banks in the launch of CBS. Our bank has implemented CBS in its branches. As such, this bank is 100% CBS enabled.
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