LOCATE ANY BANK BRANCH IN INDIA
The Hyderabad Co-operative Apex Bank Limited, Hyderabad and The Andhra State Co-operative Bank Limited were merged in the year 1963 and formed into The Andhra Pradesh State Co-operative Bank Limited (APCOB), with Head Office at Hyderabad.
Consequent to decision taken by the government for implementation of Single Window Credit Delivery System for delivering both investment and production credit for agriculture through single agency, the Andhra Pradesh Co-operative Central Agricultural Development Bank Limited (APCCADB), which was catering to the needs of Long Term Investment Credit in the then State of Andhra Pradesh, was merged with the APCOB, during the year 1994 for providing both Short Term and Long Term through the APCOB / DCCBs / PACS.
GENESIS OF APEX BANK:
Consequent to the reorganization of the State of Andhra Pradesh and formation of a new State of Telangana in 2014, APCOB is reorganized / reconstituted into two State Co-operative Banks, viz., Telangana State Co-operative Apex Bank Limited (Apex Bank) and the residual APCOB, catering to the needs of Telangana and the residual Andhra Pradesh respectively. Both the SCBs started working independently from 2nd April, 2015.
Telangana State Co-operative Apex Bank Limited, Hyderabad is registered under State Cooperative Societies Act on 26.03.2015 (Registration No.TAB.321) and commenced its business from 2nd April, 2015 onwards.
To be the “Best State Co-operative Bank” in the country, providing effective leadership, guidance, training and refinance support to the Co-operative Credit Structure (CCS) for sustainable growth and all-round development of CCS and also the State of Telangana.
APEX BANK AT A GLANCE:
Number of Branches under Apex Bank
Number of ATMs
36 Onsite ATMs
Number of DCCBs
Number of Branches under DCCBs
Number of PACS
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