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The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
Union Bank of India was established on 11 November 1919 in Bombay (now Mumbai) by Seth Sitaram Poddar. [1] The bank's corporate office was inaugurated by Mahatma Gandhi . At the time of India's independence in 1947, the bank had four branches – three in Mumbai and one in Saurashtra in trade centres. [ 9 ]
United Bank of India (UBI) was an Indian nationalized bank which provided financial and banking services. Established in 1950 and headquartered in Kolkata , the bank was nationalised by the government of India in 1969 becoming one of public sector banks in the country.
Assam Gramin Vikash Bank is the only regional rural bank of Assam, India.It is under the ownership of Ministry of Finance, Government of India.The bank was formally launched on 12 January 2006 after amalgamation of Pragjyotish Gaonlia Bank, Lakhimi Gaonlia Bank, Cachar Gramin Bank and Subansiri Gaonlia Bank, which were sponsored by erstwhile United Bank of India now Punjab National Bank.
The Banking Codes and Standards Board of India (BCSBI) [1] is an independent banking industry watchdog that protects consumers of banking services in India.The board oversee compliance with the "Code of Bank's Commitment to Customers".
In December 2015 the first International Financial Services Centre (IFSC) in India was set up in Gujarat International Finance Tec-City (GIFT City). [5] In 2019 the Government of India enacted an Act of Parliament called the International Financial Services Centres Authority Act, 2019. [6] [7] [5]
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A bank branch can be identified from the bank code. Denmark has 4-digit bank code (called Registreringsnummer, or Reg. nr.). France has a 10 digit code, the first 5 digits contain the clearing identifier of the banking company (Code Banque), followed by the 5-digit branch code (Code Guichet). Both numbers are only used as a combined prefix for ...