State Bank of India IFSC Code SBIN0001006

State Bank of India – PALASA

IFSC Code: SBIN0001006

MICR Code: 532002102

Branch: PALASA

Bank: State Bank of India

Address: DISTSRIKAKULAM ANDHRA PRADESH 532221

District: SRIKAKULAM

State: ANDHRA PRADESH

Contact:

Indian Financial System Code (IFSC): SBIN0001006

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 001006. The last six characters denote the specific bank branch.

MICR Code (Magnetic Ink Character Recognition): 532002102

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.