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Sindhudurg DCC Bank has registered under MSC Act.1960 with registration no.SNDRG/BNK/1401/Year 1983 dated 1-7-1983 and has license under BR.Act with license no. RPCD(MRO) 1260/18.01.038/2011-12 dated 20-12-2011.
Sindhudurg DCC, a Techno-savvy Bank is implementing successfully the Core Banking Solution (CBS).
Network of 32 ATM s across Sindhudurg District and is going to extend network of ATM.
Sindhudurg DCC has put in place Real Time Gross Settlement System (RTGS) transactions and National Electronic Funds Transfer (NEFT).
Nomination facility available for deposit account.
Safe deposit Locker facility available in Kasal, Kudalcity, Deogad, Kudal, Sangve, Vaibhavwadi, Sawantwadi, Kharepatan, Sawantwadi city, Dodamarg, Kankavli, MalvanCity, H.O. Counter, Shirgaon, Talebazar, Phondaghat, Mangaon, Shiroda.
First Co-op Bank in state wich is started the crop loan.
Loan available for agriculture farming,dairy,poultry,forest farming & irrigation.
Salary mortgage loan available.
First Co-operative bank in Maharastra which has issue loan for agriculture society.
Loan available for agriculture graduates for agri clinic& agro industries.
Sindhudurg District Central Co-operative Bank Ltd. is established on 1st July 1983.The Ratnagiri district is divided into two parts & separate Sindhudurg district came in existence therefore earlier Ratnagiri District Central Co-operative bank bifurcated under section 18 C of the MSC Act 1960 since that our Bank has got separate entity & started functioning as a apex district central co-operative bank for entire district of Sindhudurg. This bank has constituted with the object of providing funds to co-operative societies & others in sindhudurg district. Initially the authorized share capital was limited to the extent of 1.25 cores however at present our authorized share capital is raised up to Rs.30 cores. Currently we are operating with the network of 98 branches & Head Office and 29 ATM in entire sindhudurg district. Our bank playing very important role in financial sector of Sindhudurg District. Our bank is known as farmers bank & We implemented different schemes in the interest of farmer & people of Sindhudurg are having full confidence on our bank. There four nearly more than 40% people of total population of sindhudurg are our account holders. Currently our working capital is Rs.1390.64 cores & our total deposit is Rs.1203.83 cores.
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