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State Bank of India IFSC Code SBIN0020531

HomeIFSC CodesState Bank of IndiaSBIN0020531

IFSC Code: SBIN0020531

MICR Code: 503002643

SWIFT Code:

Branch: MACHAREDDY

Bank: State Bank of India

Address: HREYXROSPOSTNLVIKREYNIZBIST

District: NIZAMABAD

State: ANDHRA PRADESH

Contact: +918468252140

Indian Financial System Code (IFSC): SBIN0020531

The IFSC is an 11-character alphanumeric code used to identify bank branches in India for electronic payment systems such as RTGS, NEFT, IMPS, and CFMS (managed by the Reserve Bank of India).

  • The first four characters represent the bank name.
  • The fifth character is always ‘0’ and is reserved for future use.
  • Branch Code 020531. The last six characters denote the specific bank branch.

MICR Code (Magnetic Ink Character Recognition): 503002643

The MICR code is a unique code printed on cheques using magnetic ink. It helps in the secure and faster processing and clearance of cheques by identifying the bank and branch.

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