Bihar State Co Operative Bank IFSC Code and MICR Code

Find Bihar State Co Operative Bank IFSC Code, MICR Code and branch details for NEFT, RTGS & IMPS transactions.

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Bihar State Co Operative Bank IFSC Code, MICR Code and SWIFT Code

The Bihar State Cooperative Bank has its head office in Ashok Rajpath, Patna, Bihar. BSCB is an apex bank for societies in Bihar. It facilitates online transactions through net banking. You need to know the Bihar State Cooperative Bank IFSC Code to make online funds transfers to an account in the bank. 

The banking system also has another unique identification number for speeding up cheque transactions. It is called the MICR code and is different for each branch of the bank. The IFSC and MICR codes play a crucial role in the banking system by making the processes efficient and fast. 

In this article, we’ll read about the importance and benefits of the IFSC and MICR codes. We’ll also learn how to send money online through NEFT, RTGS, and IMPS payments and the documents required to complete the transactions.

Bihar State Cooperative Bank (BSCB) IFSC Code

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The Indian Financial System Code, or IFSC, is an 11-character unique code allotted to each branch of every bank in India. The coding system has been developed by the Reserve Bank of India (RBI) to keep track of the bank branches and facilitate online money transactions between two banks. 

The IFSC code is divided into three parts. The first part consists of four alphabets that denote the bank code. The second part is the fifth character and is always a zero (0). The third part consists of the remaining six characters. These can be alphabets, numbers, or a combination of both and denote the branch code. 

The Bihar State Cooperative Bank, Bankipur Branch, Patna IFSC Code is YESB0BSCB02. Here,

  • YESB is the bank code for YES Bank and is followed by zero.
  • BSCB02 is the branch code for Bihar State Cooperative Bank in Bankipur.

Why do we need an IFSC code? The IFSC code is used during online money transactions. It helps the banking system identify the branch where the beneficiary’s account is located. This enables NEFT, RTGS, and IMPS payments to be easily credited to the beneficiary’s bank account without any discrepancies. 

Will the wrong IFSC code result in failed transactions? The answer depends on whether you used the correct account number or not. If the account number is correct (and belongs to the same branch as the sender’s) but the IFSC code is wrong, it can still be a successful transaction. 

However, if the account number and IFSC code are wrong, the amount might be credited to the given account number (if it exists). Otherwise, the transaction will fail, and the funds will be credited back to your bank account in a few working days. 

Knowing the correct IFSC code of a bank branch will save time and ensure that the money is sent to the beneficiary. Once you know how to find the IFSC code, you can use the same method to find the codes for any bank branch. 

Bihar State Cooperative Bank MICR Code

The MICR code is imprinted on cheques using the Magnetic Ink Character Recognition technology. This allows banks to easily identify and verify the authenticity of cheques and clear them faster. The MICR code is used during ECS (Electronic Clearing System) that processes cheques digitally rather than manually. 

Nine digits make up the MICR code and are different for every bank branch. It is a combination of three codes- city code, bank code, and branch code. For example, the MICR code of Bihar State Cooperative Bank is 800213001. Here, 

  • 800 is the city code
  • 213 is the bank code for BSCB 
  • And 001 is the branch code for BSCB

The MICR code is different from the Bihar State Cooperative Bank IFSC Code. While the IFSC code is required for online fund transfers, the MICR code is limited to its role in validating a cheque and speeding up the electronic clearing process. 

However, not all bank branches have MICR codes. Regional Rural Banks are an example of this. Such branches process cheques manually and take more time to verify the details. It might be a week before the amount is credited to the beneficiary’s account if the branch doesn’t have a MICR code. 

How to find the IFSC & MICR Code of Bihar State Cooperative Bank (BSCB)?

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So, how to find the correct IFSC and MICR codes of a bank branch? We know the role played by the codes for transferring money between bank accounts. The sender can search for the code online and make a note of it. The beneficiary can use online and offline methods to find the relevant bank codes. 

Let’s look at the various ways to find the IFSC code of a bank branch. 

Online IFSC Search Tools

There are many online search tools to find the Bihar State Cooperative Bank IFSC Code. Find Your Bank website is a free and user-friendly website to find the bank codes and other details about every bank’s branch in India.

Open the website: https://findyourbank.in/.

On the home page, you can use the form to search for the IFSC code. The form has drop-down lists for all fields. The page will automatically refresh after you select the option for each field. 

  • First, select the bank name from the list.
  • Choose the state where the bank is located.
  • Then choose the district. 
  • Now, finally, choose the branch. 

The page will load the bank branch name, IFSC code, MICR code, SWIFT code (if available), address, pin code, and contact information.

Users can access the website from any device that has an internet connection. You can also download the free Find Your Bank mobile app from Playstore on your smartphones. It is easy, simple, and fast.

Bank Passbook 

The bank passbook has all the information you need about the branch and the account of the person. Every account holder has a passbook authorized by the bank to keep track of the transactions. The first page of the passbook contains:

  • Branch address and contact number(s) 
  • IFSC code 
  • MICR code
  • Account holder’s name and address
  • Account number 
  • Account type 
  • Customer ID 

Cheque Book

Account-holders need to apply for a cheque book after they create an account in the bank branch. The first page of the cheque book contains similar information as the passbook. The account holder’s name and account number, IFSC code, and MICR code are printed on the first page for easy identification. 

Apart from that, every cheque has the codes printed on it in different places. The MICR code is printed at the bottom of the cheque beside the cheque number. The IFSC code is printed at the top of the cheque beside the bank’s name/ logo. 

Net Banking/ Official Websites

Both the official bank website and the RBI website usually share the IFSC code. You can log in to your net banking account to know the IFSC code of a bank branch. 

Call Customer Support 

Finally, you can call customer care of the bank to ask for the IFSC code of a particular branch. Remember that you don’t need to share your personal information, such as the account number, debit card details, or PIN number, to know the IFSC code of any bank. 

How to Transfer Money through NEFT, RTGS & IMPS?

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Online fund transfers have simplified many banking transactions. We can easily send money through NEFT, RTGS, IMPS, etc., from any location as long as we have an internet connection. We can use net-banking on computers, laptops, tablets, and smartphones to send money at any time. 

The Bihar State Cooperative Bank IFSC Code is a must if you want to send money to a person with an account in BSCB bank. The IFSC code ensures that the transaction is processed seamlessly and the money is credited to the beneficiary’s account in less time. 

Let’s read in detail about the three major online money transfer methods used by many people in the country. 

NEFT (National Electronic Fund Transfer)

NEFT is a popular and most used money transfer method in the country. Banks rely on the Deferred Net Settlement (DNS) system to process NEFT transactions. That means the transactions are cleared in batches at regular intervals. 

Once you complete an NEFT payment, it may take about two hours for the amount to be credited to the beneficiary’s account. There are no maximum and minimum limits to sending money using NEFT. Moreover, NEFT is available throughout the year and even on bank holidays. You can use it to send money anytime. 

The transaction charges for NEFT payments are based on the amount you send per transaction.

  • For up to Rs. 10,000: Rs.250+ tax (transaction charges) 
  • Between Rs. 10,001 and Rs. 1,00,000: Rs. 5+ tax
  • Between Rs. 1,00,001 to Rs. 2,00,001: Rs. 15+ tax 
  • Above Rs. 2,00,000: Rs. 25+ tax 

You need the following details to initiate an NEFT payment: 

  • Transaction amount 
  • Beneficiary Name 
  • Beneficiary Bank Name 
  • Beneficiary Account Number 
  • Beneficiary Bank Branch’s IFSC Code
  • Your Account Number 

Log in to your net banking account to send money through NEFT or visit the branch for the same. 

RTGS (Real-Time Gross Settlement)

RTGS payments, as the name implies, are completed in real-time and are faster than NEFT transactions. RTGS is used to send money in large amounts without any delay in the transaction. It is used in emergencies or for immediate deposits of huge payments. 

RTGS payments are irreversible and more expensive than NEFT transactions. RTGS payments have no maximum limit. However, the minimum transaction amount is Rs. 2 lakhs. Like NEFT, you can make an RTGS transaction from your net banking account or visit the branch. 

The charges for RTGS payments are as follows: 

  • Between Rs. 2,00,000 and Rs. 5,00,000: Rs. 20+ tax 
  • Above Rs. 5,00,000: Rs. 45+ tax 

RTGS transactions need the same details as an NEFT payment. RTGS payments are secure, fast, and reliable. 

IMPS (Immediate Payment Service)

IMPS is an instant payment method that can be used round the clock. You can make an IMP payment through net banking, mobile app, ATM center, or SMS. IMPS uses the (MMID Mobile Money Identifier) to allow monetary transactions between two bank accounts or two registered mobile numbers. 

The minimum amount to send via IMPS is Re. 1, and the maximum amount is Rs. 2 lakh. The transaction charges change from one bank to another. You need the following details to initiate an IMPS payment: 

  • Your mobile number  
  • Your MMID 
  • Beneficiary’s MMID
  • Transaction amount 
  • Beneficiary AADHAR Number 
  • Beneficiary Account Number 
  • Beneficiary Bank Branch’s IFSC Code (optional) 

About Bihar State Cooperative Bank (BSCB)

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Bihar State Cooperative Bank was established in 1914 as the Bihar and Orissa Provincial Co-operative Bank, with operating areas in Bihar and Odisha. The bank’s operational areas were limited to Bihar after Odisha (then Orissa) was separated from Bihar in 1936-37. 

The bank was renamed Bihar State Cooperative Bank in 1950. In 1966, the bank was included in the second schedule of RBI. There are 14 branches and 30 DCCBs affiliated with BSCB. It began offering non-agricultural finances after 1990. 

Frequently Asked Questions

1) Is Cooperative Bank a Government Bank?

Cooperative banks are not owned by the governments. The banks have multiple shareholders and are registered under the cooperative societies act. Some cooperative banks have been nationalized and converted into public sector banks. Recently, the central govt passed an ordinance that the cooperative banks come under RBI. However, these banks are not government banks. 

2) How many Cooperative Banks are there in Bihar?

There are about 45 cooperative bank branches in Bihar. 

3) What is the Bihar Co-operative Bank Customer Care Number?

The customer care numbers for Bihar Cooperative Bank are:

(0612) 2300262, 2300903, 2300364, 2300087, 2300324, and 2300451

4) How many State Cooperative Banks are there in India?

There are 31 state cooperative banks in India.