State Bank of India IFSC Code SBIN0050240

IFSC Code: SBIN0050240

MICR Code: 160002120

SWIFT Code:

Branch: CHANDIGARH-B

Bank: State Bank of India

Address: SECTOR 22 B SC O NO 1106 1107

District: CHANDIGARH

State: CHANDIGARH

Contact: 2706051

Indian Financial System Code (IFSC): SBIN0050240

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 050240. The last six characters denote the specific bank branch.

MICR Code (Magnetic Ink Character Recognition): 160002120

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.