Himachal Pradesh State Cooperative Bank IFSC Code or Indian Financial System Code is an 11-digit alphanumeric code allotted by the Reserve Bank of India enabling the identification of a particular bank branch. The code uniquely identifies all the banks and their respective branches hence minimizing the chances of any discrepancy in the fund transfer process. The use of IFSC is mandatory in the electronic or online funds transfer system via NEFT, RTGS or IMPS.
Structure of Himachal Pradesh State Cooperative Bank IFSC Code
| Himachal Pradesh State Cooperative Bank Code | Zero | Himachal Pradesh State Cooperative Bank’s Branch Code | ||||||||
| H | P | S | C | 0 | 0 | 0 | 0 | 4 | 4 | 7 |
The above mentioned IFSC Code (HPSC0000447) is an example of Himachal Pradesh State Cooperative Bank IFSC Code Shimla. In the 11-digit code:
- The first 4 characters ‘HPSC’ define the bank code
- The 5th character is a ‘0’
- The last 6 characters ‘000447’ is the branch code of Ratnari, Shimla
Significance of IFSC Code
- It helps in the identification of a particular bank branch
- Electronic fund transfer via NEFT, RTGS or IMPS has become easier
- Minimal chances of discrepancy in the online money transfer process
Where to find Himachal Pradesh State Cooperative Bank IFSC Code?
The account holders can find the IFSC code as well the MICR (Magnetic Ink Character Recognition) code in the following ways:
1. IFSC Code search tool by Paisabazaar: The account holders can visit the Paisabazaar IFSC Code Search Tool to know about the IFSC as well as MICR Code. Customers will be required to follow the below-mentioned steps-
- Select Himachal Pradesh State Cooperative Bank under ‘Bank’ head
- Select the state, city and then the branch name in which the customer is holding an account
- All the details along with IFSC & MICR Code will be displayed on the right-hand side of the page
2. Cheque Book: Himachal Pradesh State Cooperative Bank IFSC Code is printed on the top left corner of the cheque, while the MICR Code is present at the bottom. Have a look at the picture displayed below:
*The IFSC code and MICR code can also be found on the passbook issued by the respective bank as well.
3. Himachal Pradesh State Cooperative Bank Netbanking / Mobile Banking: Account holders can look for IFSC Code on the official net banking portal or mobile banking application by simply logging in using the customer ID and password.
4. The Reserve Bank of India (RBI): The Reserve Bank of India also provides the list of IFSC codes of all banks in India and their respective branches.
How to transfer funds using Himachal Pradesh State Cooperative Bank IFSC Code?
IFSC helps in processing electronic or online funds transfer by routing messages to the specific bank branch. Also, in order to complete a transaction, IFSC Code is mandatory to monitor the transfer of money to the intended bank account. The three main processes through which online funds transfer is initiated include:
1. NEFT: National Electronic Fund Transfer
2. RTGS: Real-Time Gross Settlement
3. IMPS: Immediate Payment Service
| NEFT | RTGS | IMPS | |
| Process | Facilitating transfer of funds in 23 half-hourly batches | Money is credited in real-time and gross basis | Real-time and instant inter-bank fund transfer process |
| Minimum transfer amount | Re.1/- | Rs.2 lakh | Re.1/- |
| Maximum transfer amount | No maximum value | No maximum value | Rs.2 lakh |
| Service Timings | 9 am to 7 pm - Monday to Saturday (except 2nd & 4th Saturdays) | 9 am to 6 pm on weekdays (excluding 2nd & 4th Saturdays) | Available 24X7
(365 days) |
| Inward transactions charges | No charges | No charges | Depends on the specific bank branch |
About Himachal Pradesh State Cooperative Bank
Registered in the year 1953 under the Cooperative Society Act, the bank started functioning on 15th March 1954. The bank currently has a network of 190 branches spread across the state. The bank started functioning as an Apex Bank and Central Financing Agency under the 2-tier system in 6 districts of the state.