State Bank of India IFSC Code SBIN0016565

IFSC Code: SBIN0016565

MICR Code: 431002503

SWIFT Code:

Branch: PALAM

Bank: State Bank of India

Address: SHOP NO 12 16, DEVIDASRAO COMPLEX, CHHATRAPATI MARKET, NEAR BUS STAND, AT POST PALAM, DISTT. PARBHANI. MAHARASHTRA 413720

District: PALAM

State: MAHARASHTRA

Contact:

Indian Financial System Code (IFSC): SBIN0016565

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 016565. The last six characters denote the specific bank branch.

MICR Code (Magnetic Ink Character Recognition): 431002503

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.