Central Bank of India IFSC and MICR Code Functionality

The Central Bank of India IFSC and MICR code finder helps to figure out the IFSC and MICR codes for its various branches. Just enter the bank, state, and name of the district where the bank is located, and lastly, enter the branch details.

Central Bank of India IFSC Code

IFSC code, also known as the Indian Financial System Code, is an 11-digit alpha-numeric code for banking institutions that allow money transfer services. This 11-digit key is made up of three parts. For example, the Central Bank of India IFSC code for the Delhi branch is CBIN0280301. The first four letters of the code 'CBIN' represent the name of the bank with the fifth digit as zero. The following six digits, '280301,' on the other hand, specifically assist in identifying the concerned branch located in Connaught Circus, Delhi.

It is a well-known fact that electronic transfer of money has made life much simpler especially when it comes to banking transactions. By saving time and providing security, you can rest assured that your money will be safe and the transfers will be smooth. Introduced by RBI, both NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) services facilitate a smooth transfer of funds to not only Central Bank of India accounts but also other bank accounts. CBI IFSC code is mandatory to do online transactions using NEFT, IMPS, or RTGS. The RBI issues this unique code to every bank in the country that is a part of the NEFT system and it enables a hassle-free transfer of funds by identifying both the main bank transferring the money as well as the destination bank to whom the funds are transferred. It also eliminates the chances of error while transferring the money.

About Central Bank of India

Sir Sorabji Pochkhanawala founded the Central Bank of India in 1911. With nearly 4594 branches, the Central Bank of India has a wide network in all the country's major cities and Union territories. Over the course of its century-long existence, the bank has aggressively supported the main sectors of India like agriculture, medium, small, and large-scale industries. It has introduced many self-employment schemes that have helped in boosting employment in various areas in the nation. It offers its customers a wide range of financial services and products like fixed deposits, NRI Banking services, loans, ATMs, agri-banking, and lots more.

How to Find the Central Bank of India IFSC Code and MICR Code Online

To get the Central Bank of India IFSC Code and MICR code, you are required to visit the official website of the bank or visit the RBI website. On the website, enter the required details like the name of the branch, the name of the district, and the state. Once all the information is entered, the IFSC code for that particular Central Bank of India branch will be displayed on the screen.

How to Find Central Bank of India IFSC Code and MICR Code Offline

As simple as it is to discover the Central Bank of India IFSC Codes and MICR Codes online, it is equally straightforward to find them offline. The most convenient method to find the IFSC code would be to refer to the bank’s cheque book as the code is mentioned on the top left-hand side of the cheque. The MICR code can also be found on the cheque book leaves as well as the bank passbook.

How to Transfer Money via CBI through NEFT

The NEFT transactions or the National Electronic Funds Transfer are made available by the RBI to facilitate secure and quick money transfers. If we assume you have debited the amount to the beneficiary within the specific time frame, it will be transferred on the same day. If not, the money will be sent the next day as per the rules of the bank. To perform an NEFT, you will need the name of the beneficiary, their bank and branch, account number, IFSC code, and lastly the exact amount. To transfer funds within Central Bank of India accounts, the IFSC code for both the sender and the payee would be mandatory.

How to Transfer Money via CBI through RTGS

Real-Time Gross Settlement System (RTGS) transfers are done on a distinct basis, which clearly means that the funds arranged are transferred individually and not batch-wise. RTGS is a very safe and super convenient way to transfer high-value amounts i.e. a minimum of Rs. 2 Lakhs, and there is no maximum limit. For an RTGS to be completed, the name of the customer, bank and branch details, IFSC code, account number, and the remittance amount are required.

How to Transfer Money via CBI through IMPS

Tagged as an interbank money transfer service, IMPS (Immediate Payment Service) is a round-the-clock facility that enables an immediate transfer of money from one account to the other. It is possible to conduct the transactions using the Internet, mobile, as well as ATM. IMPS is a very quick, secure, and customer-friendly platform to perform your day-to-day transactions. Unlike NEFT and RTGS, IMPS requires very minimal information of the beneficiary like the mobile number and MMID only.

Information Required for Transferring Funds with CBI

Here are the several details necessary to transfer money with the Central Bank of India

  • Beneficiary’s details

  • Account number of the beneficiary

  • Bank name of the beneficiary

  • Amount details

  • Any message from the sender to the beneficiary

FAQs on Central Bank of India IFSC Code

  • ✔️What is the IFSC code in the Central bank?

    Central Bank of India’s IFSC code is an 11-digit alpha-numeric code - the first four letters will be 'CBIN', and the last 6 digits will identify the branch code. The 5th digit is zero.

  • ✔️Is the IFSC code the same for all branches of a bank?

    No, the IFSC code will never be the same for all branches of the same bank as it is a unique code. The first 4 digits of the IFSC identify the bank, and the last 6 characters stand for the branch.

  • ✔️How can I get the IFSC code of the Central Bank of India?

    The Central Bank of India ka IFSC code can be found on the cheque book and passbook issued by the bank. You can also use any search engine to find out the same information.