South Indian Bank IFSC Codes

f:id:RobertCTurner:20171031203531p:plain

The South Indian Bank is a private sector bank which has its headquarters at Trissur in Kerala, India. It was founded in the year 1929. The bank has a network of 850 branches, 4 service branches, 48 ext. counters and 20 Regional Officers. The offices are spread over 27 states and 3 Union Territories in India. The bank has about 1320 ATMs and 17 Bulk Note Acceptor/Cash Deposit Machines all over India.

Achievements of the Bank:

The bank bagged many achievements starting from the year it was founded. Some of the milestones are:

  • The bank is first among the public sector banks in Kerala to become a scheduled bank in the year 1946.
  • It is the first bank in India to open a currency chest in April 1992.
  • It is the first public sector bank to open an NRI Branch in Jhumritalaiya in the year November 1992.
  • In the year March 1993, the bank started an Indian Finance Branch.
  • It is the first public sector bank in Kerala to open an Overseas Branch in June 1993.
  • The bank developed a complete in-house, fully integrated branch automation Software in Kerala.
  • The bank implemented the First Core Banking System.
  • The bank ranks 8th as the largest branch network among all the public sectors banks in India.

The bank offers a wide range of products and services to the customers like Loans, Private Banking, Savings, Investment, Vehicles, and Insurance etc. The bank collected a revenue of Rs 26.4270 Billion, with a net income of Rs 2.3376 Billion.

South Indian Bank IFSC Codes

An IFSC Code is an 11-digit alphanumeric character code which was launched by the Reserve Bank of India. This code is essential for making any NEFT or RTGS Transactions. This code helps to identify the source and the destination bank in the event of the fund transfer. This 11-digit character code is broadly divided into three parts where the first four characters denote the name of the bank, the fifth character is always zero, and this character is meant or reserved for the future use and the last six characters represent the Branch code of the bank.

Let us take an example of the IFSC Code of South Indian Bank Kannur Chalad Branch. The IFSC Code of this branch is SIBL0000955. The mode of payment that the bank accepts is Cash, Cheque, Demand Draft and Net-Banking. The Remittance Services offered is NEFT.

Check Here the IFSC Code of Bank of Maharashtra Wikia