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Shamrao Vithal Coop Bank state wise list of all branches, IFSC code, MICR code and Addresses within India
About The Shamrao Vithal Co-operative Bank Limited
The Shamrao Vithal Co-operative Bank Limited was founded on 27th December 1906. It was initially registered as a Co-operative Credit Society. The main architect of this bank is Rao Bahadur Shripad Subbarao Talmaki who is regarded as the Maharshi of Co-operation. It is to be remembered that this bank was founded during the period when co-operation was just beginning to gain momentum in the nation. It is to be noted that it was established with the main objective of assisting the members of the less fortunate belong to lower community in its economic sector in order to largely encourage savings plus to create funds for perfectly providing financial assistance to deserving members in the given society.
Milestones of the Shamrao Vithal Co-op. Bank Ltd:
• In 1907, it introduced Fixed Deposits, Cumulative Deposits and Savings Bank Deposits Scheme.
• In 1910, it established First Co-operative Stores.
• In 1911, it created facilities for remittance by Draft made available to Members.
• In 1911, it offered Education Fund.
• In 1913, it offered Cash Credit Loan Scheme.
• In 1915, it started its first Co-operative Housing Society in Bombay.
• In 1927, it offered Fidelity Guarantee Fund.
• In 1931, it provided Distress Relief Fund.
• In 1954, it started Staff Gratuity Fund.
• In 1956, it provided facilities thrown open to all communities.
What is IFSC Code?
IFSC stands for Indian Financial System Code. It is basically used for electronic payment such as RTGS (Real Time Gross Settlement), NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Service) and CFMS (Centralized Funds Management Service) developed by RBI. It is an alphanumeric code that uniquely identifies a Bank Branch that participates in the two main Electronic Funds Settlement Systems in India. IFSC code comprises of 11 characters e.g. – Shamrao Vithal Cooperative BankN0000001. The first 4-characters represent the entity. Fifth position has been defaulted with a ‘0’ for future use. The last 6 – characters denotes the branch identity.
Shamrao Vithal Cooperative Bank IFSC Code
• Shamrao Vithal Co-operative Bank IFSC code is needed for NEFT and RTGS transactions. These codes are provided by RBI (Reserve Bank of India) and also unique for each branch.
• The Shamrao Vithal Co-operative Bank IFSC code starts with SVCB0****** and last five digits varies from branch to branch. The IFSC code for Shamrao Vithal Cooperative Bank branches is the last six digits i.e. SVCB*******.
How to utilize Shamrao Vithal Co-operative Bank IFSC code for NEFT & RTGS fund transfer?
• Shamrao Vithal Co-operative Bank IFSC code is required to do online fund transfer. A list of Shamrao Vithal Cooperative Bank IFSC code is provided in order to find out Shamrao Vithal Co-operative Bank branch. This knowledge may also be used in online banking. With this code we can also do online payments such as Mobile Recharge, Railway Ticket Booking, Online shopping and so forth.
What is MICR Code?
• MICR stands for Magnetic Ink Character Recognition. It contains numeric values and usually printed on cheque leaves. It is mainly used for processing cheques easily.
• Shamrao Vithal Co-operative Bank Magnetic Ink Character Recognition (MICR) code contains numerical values only; it comes with nine digit code. It is printed usually on cheque leaves. It is largely MICR Code is used for processing cheques easily. Shamrao Vithal Cooperative Bank has NEFT supported branches; most of these Shamrao Vithal Cooperative Bank branches have MICR Code number.
Shamrao Vithal Cooperative Bank MICR Code
• Shamrao Vithal Coop Bank have MICR code containing numeric values. Shamrao Vithal Cooperative Bank have NEFT supported branches and also most of these Shamrao Vithal Co-operative Bank branches have MICR code number.
How to Search MICR Code of Shamrao Vithal Coop Bank?
• Initially you have to choose the state where your SVC Bank branch is located.
• Then you have to choose your city where your Shamrao Vithal Coop Bank branch is situated
• Now, select your branch of SVC Bank to find MICR Code.