LOCATE ANY BANK BRANCH IN INDIA
Bank’s
Overview
The Malkapur urban Co op Bank
Ltd, Malkapur
is at the leading level in the co-operative sector.Implementation of the latest
Services and Facilities is the main target of the Bank.Bank has 212 Employees
working as a team to fullfill the requirements of the customer to the end. Due
to good understanding among the officers and their Collegues Banks Reaching
towards Success.Bank Always focus on the training and the smartwork of the the
employees,so bank Send the employees to various training places like Yashada
Pune,Vaikunthbhai Mehata,Sahkari
Prabandh Santha Pune,Dhananjay Gadgil etc.The agenda of the bank is clear and
simple that each and every employee of the the bank must be educated so it is
helpfull for employee and for the bank.Some Bank Employees Preparing for the
upcoming JIIB Exam held May-2016.
The bank
is classified as a Tier II bank since the Bank is having mixed business.The
Bank is working since last 58years having its area of operation in the entire
State of Maharashtra having 28 branches and having Registration No.
BUD/BNK/101/1962. The Head Office is situated at “Dhanshree”, Buldhana Road,
Malkapur, Dist. Buldhana. The Bank is engaged in regular banking operations as
per the RBI norms having Bank business more than 1100 cr. & having Branches
in multi-districts.
Salient Features of
the Bank
·
Most
convenient Bank Timing.[Split Hours, during morning and evening.
·
Fully
Computerised service in all Branches.
·
Safe
Deposit Lockers Faciity.
·
Deposits
up to Rs.5 lacs covered under DICG.
·
Higher
rates of Interest of 1% on TERM DEPOSITS for Senior citizen.
·
Long term
repayment of loans.
·
Vehicle
loan, Gold Loan,IVP/NSC,Ware house loans 75 % of Face value.
·
CTS
clearing facilities. DD, RTGS facility:All over india.
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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