LOCATE ANY BANK BRANCH IN INDIA (Select Bank Name then State then District then branch to see Details) Guide:-  Please look for the correct name of the bank, e.g. "Federal Bank" is Actually "The Federal Bank." Details of ALLAHABAD BANK, AMLAI, BHARATPUR Bank: ALLAHABAD BANK Address: VILL & PO AMALI, PS - BHARATPUR, DIST-MURSHIDABAD, WEST BENGAL
PIN -742301 IFSC Code: ALLA0212614 (used for RTGS, IMPS and NEFT transactions) Branch Code: Last six characters of IFSC Code represent Branch code. MICR Code: MICR not provided
IFSC Code:ALLA0210054
IFSC Code ALLA0210054 (used for RTGS and NEFT transactions) Address VILL & PO SAGARDIGHI, DIST- MURSHIDABAD, WB Phone Number TEL : 268024 IFSC code : ALLA0210054 andMICR code : 741010602for allahabad bank, located at Sagardghi, Murshidabad,West Bengal If you live in Murshidabad near ALLAHABAD BANK , Sagardghi branch, it doesn’t mean that you need to visit the ALLAHABAD BANK every time to perform a financial transaction. With so many ALLAHABAD BANK branches and varied needs, a click of the button is good enough to perform a transfer around Murshidabad, West Bengal. IFSC Codes have been a part of the ALLAHABAD BANK way of working for a long time now, and they have definitely been of help in case of a financial transaction. A lot goes into making an experience wonderful for you at ALLAHABAD BANK, especially the one that concerns a financial transaction in Sagardghi, Murshidabad. A transfer to the wrong beneficiary is an act that you wouldn’t want to do, and that is why it is important that you check the ALLAHABAD BANK account number as many times as necessary, to ensure that the right beneficiary gets your money. IFSC Codes for ALLAHABAD BANK are designed in a way to make sure that your bank is traceable. If the ALLAHABAD BANK bank account details will not be in sync, the ALLAHABAD BANK servers will not be able to locate the Sagardghi branch in Murshidabad, West Bengal. This in turn is a signal that things aren’t happening in the right manner, while a validated ALLAHABAD BANK IFSC code, will confirm that your beneficiary has a valid ALLAHABAD BANK branch and the transaction can be done. Let’s take one example: There are various branches of ALLAHABAD BANK in the country, but let’s take into count their Sagardghi branch. The branch details are appended below:
The details above validate that the ALLAHABAD BANK has its operations in the Murshidabad, West Bengal branch located at the VILL & PO SAGARDIGHI, DIST- MURSHIDABAD, WB. This confirms that if you plan on doing a financial transfer, you must be sure of the ALLAHABAD BANK IFSC code to ensure that the transfer happens without any hassles. While all of us understand IFSC codes by now, let’s understand MICR code as well. This is termed as Magnetic Ink Character Recognition which is a character recognition technology that helps in processing cheques faster. ALLAHABAD BANK bank branch has a unique MICR code which helps RBI identify the ALLAHABAD BANK branch, and speed up the cheque clearing process. While ALLAHABAD BANK IFSC is an 11 digit code, MICR is a 9 digit code, and the basic difference between these two codes is that IFSC code is used for ALLAHABAD BANK online transactions, while MICR is used for ALLAHABAD BANK offline transactions, like Cheque. These two aspects are of great importance for ALLAHABAD BANK financial transaction in both ALLAHABAD BANK online transactions and ALLAHABAD BANK offline transactions, and you can choose the one that works well for you. ifsc News & Updates As it HappensHome Loans Rate of Interest 7%- May Soon Become a Reality29th November 2016: The central government may soon announce a scheme under which a home loan can take at a rate of interest of 6-7%. The scheme may use the money collected from the demonetization drive. The new Housing scheme may be announced in the Union Budget 2017. Under the scheme, a rate of interest of 6-7% will be offered to a first time borrower for a loan amount up to Rs.50 Lakh. Golden Walking Stick- The home loans available for senior citizens.11 July 2017:Old age is mostly about loneliness and difficult times. Far more difficult problem is when the prices of medical claim rise and insurance cover fails to reimburse it and all this happens when there is absence of regular income. To address this problem NHB (National Housing Bank) in 2008 has initiated a new home loan product known as the “Golden Walking Stick” which provides home loans to the senior citizens above 60 years. It involves pledging the house you live in the bank and in return you receive an amount from the bank without having to part with your house. The maximum tenure of the loan is 20 years and the monthly income on this basis is Rs.50000. Larger amount can be withdrawn owing to medical or house repair reasons. Bank has to bear the risk of declining prices of property and even the borrower has to maintain the house. However it is difficult for senior citizens to surrender their property to the bank also the complexity makes it difficult for them to agree to the terms and conditions of the bank. So this project is yet to take off. Determining the amount of loan on the basis of the property is an international norm. In Canada reverse mortgages are done at 55%, in United States it is done at 50-60% and in Australia it is done at 40%. There are a very few banks which prefer reverse mortgages and rarely sanction more than 15-20% of the value of the property. Keeping in mind the new social scenario it's time government takes positive steps towards needs of the senior citizens.
Indian banks to face $65 bn capital shortage by FY19, says Fitch13 September 2017:Indian Banks will need about USD 65 billion in additional capital, lower than estimated earlier, to meet the Basel III capital sufficiency rule by March 2019 and push loan growth, Fitch Ratings said today. Weak capital positions have a major negative effect on the bank's capability ratings which will come under more pressure if the problem is not addressed, it added. State-owned banks which account for 95 percent of the estimated shortage have limited options to increase the capital they still require, it said."Prospects for internal capital generation are weak and low investor confidence impedes access to the equity capital market," Fitch said, adding that they are likely to be dependent on the state to meet core capital requirements. The government is committed to investing only another USD 3 billion in fresh justice for 21 public sector banks (PSBs) over the current and the next financial, having already provided most of the originally budgeted USD 11 billion."Fitch believes the government will have to pump in more than double, even on a bare minimum basis, if it is to raise loan growth, address weak provision cover, and aid in effective NPL resolution," it said. The gross non-performing loan (NPL) ratio reached 9.7 percent in 2016-17, up from 7.8 percent in 2015-16.Additionally, "State banks are unlikely to be freed from their current gridlock unless NPL resolution is accompanied by additional capital," Fitch said. Oriental Bank of Commerce cuts base rate 9.45%01 October 2017:The nation's leading financial institution and public lender Oriental Bank of Commerce (OBC) today announced a reduction of 0.05 percent in its base rate, to 9.45 percent with effect from October 3. OBC cuts base rate by 5 basis points or minimum lending rate."This is to notify that the bank has revised the base rate from 9.50 percent per annum to 9.45 percent per annum with effect from 3rd of October 2017," Oriental Bank of Commerce said in a regulatory filing with the stock exchanges. The stock was dealing at Rs 120.50 on the BSE today, up 0.54 percent from its previous close. The base rate is the interest rate below which a bank cannot lend. OBC had last cut its base rate in April this year when it brought down its base rate to 9.5 percent. Paytm Aims to Become World’s Largest Full Service Digital Bank – Alibaba30 November 2017:Paytm Payments Bank aims to create the world’s largest digital bank with 500 million accounts, envisioning an online financial services provider of everything from wealth management to credit cards and stock market trading. The bank, backed by the country’s largest digital wallet of the same name, launched formally Tuesday and is targeting people who don’t have access to professional financial services. That aligns with Prime Minister Narendra Modi’s ambition to broaden access for the under-banked in the nation of 1.3 billion people. “We are unveiling our money market fund, launching our debit card and we’ll have the capabilities to allow enterprises to open business accounts,” Paytm founder Vijay Shekhar Sharma said in a phone interview that coincided with a formal inauguration in New Delhi attended by Finance Minister Arun Jaitley. “Digital payments was our entry point, we want to become a vertically-integrated financial services company.” India’s government is supporting financial technology with incentives and a string of initiatives such as digital lockers and user-authentication based on its digital identity program, Aadhaar. Paytm was one of fewer than a dozen entities that secured permits to start payments banks, which can accept deposits and remittances but cannot lend. It said it will operate a mobile-first bank with zero fees on online transactions and no minimum balance. Paytm Payments Bank is majority-owned by Sharma. One97 Communications, which operates Paytm and is backed by Alibaba Group Holding Ltd. and Jack Ma’s Ant Financial, holds the remaining 49 percent. The bank grew out of Paytm’s digital wallet, which amassed over a hundred million customers after India took high-denomination bills -- or nearly 90 percent of the value of cash -- out of circulation last November. Sharma may have found a way around the regulatory hurdles that bar lending. One97 Communications will introduce a charge card and offer monthly installment-based loans, he said. “We will launch share trading and insurance products very soon,” he added. “We want to become an internet-age financial services company.” DBS Bank pulls GST Council and government to court29 September 2017:Singapore-based DBS Bank has pulled the Indian government and GST council to the Delhi High Court after it was asked to pay integrated goods and services tax (IGST) on banking services provided to its head office in Singapore. The Court admitted a court order request filed by DBS Bank challenging certain sections of the IGST and issued notices to the government and the GST council to file appropriate replies in the matter. The case has been posted for hearing on November 7. The request has been admitted by the division bench including Justice S Muralidhar and Pratibha Singh. DBS has hired senior lawyers Abhishek A Rastogi and Rashmi Deshpande to appear on its behalf. An email query sent to Central Board of Excise and Customs and the revenue secretary on Thursday afternoon did not bring out any response till the time of going to press. When contacted, DBS Bank refused to comment. Many foreign banks have started paying 18% GST on all the services they provide to their head offices outside India said people familiar with the matter. "Unlike under the service tax regime, all foreign banks are now burdened with an 18% IGST on various services rendered to their head offices outside India when the place of provision of the services is outside of India," said Rastogi. Industry trackers said that the government may have to come out with a clarification to sort out this issue. Citi and Syndicate Bank Slash MCLR Rates24th January 2017: Lending rates are on the decline as more banks join in on reducing their MCLR post demonetization. Syndicate Bank and Citi India have slashed their rates substantially. The MCLR of Syndicate Bank and Citi India stand at 8.30 – 8.75% and 8 – 8.10% respectively. The MCLR rate controls the interest rates of car and home loans. Hence, 2017 may well be the year when borrowing for cars and homes becomes more affordable. Now days cards used more for real time, face to face shopping than online purchases: Visa21 November 2017:Post demonetisation of Rs 500 & 1000 notes on Nov 16, consumers have transitioned from cash to digital to settle payments transactions. The usage of digital modes like cards for shopping face to face or real time is much higher than for online purchases during this year. Top cities with the highest growth in card spend for face to face spend during this year Diwali was Delhi (97%), Chandigarh(76%), Coimbatore( 73%), Pune ( 67%) and Ahmedabad (59%). These 5 cities together accounted for 57% of total face to face card spend during the festival. This days digital payment goes viral every one looking for digital payment. Spending on Jewellery was high highest and was 2.7 times the normal weekly spending by cards that is the good news for digital India, followed by spending buying electronics and apparel and accessories. While spending in Delhi, Mumbai and Bengaluru were the highest for jewellery purchases, in Chennai face to face card spend was more for apparel and accessories and in Hyderabad cars were used for electronics purchases. Small rise in auto & home loan default in 2 years27 November 2017:MUMBAI Auto and home loans have seen a marginal increase in the ratio of offending accounts—failure to make timely payment—over the last two years. However, gold loans and two-wheeler loans have witnessed a reduction in delinquencies. A report by credit information bureau TransUnion Cibil (TUCIBIL) has shown that the overall delinquency rates in retail have been stable while variation in delinquencies among different segments have come down. For NBFCs (non-banking finance companies) and private banks, while the overall portfolio delinquency is showing a downward trajectory, it should be noted that these institutions also displayed the most increase in disbursements over the last few periods that could suppress the delinquency ratios," said Harshala Chandorkar, chief operating officer, TUCIBIL. "The availability of bureau data is enabling far reaching changes in broader credit infrastructure in India. This includes the adoption of digitisation of processes, instant credit decisioning and digital workflows, and enhanced early warning systems. Lowering of costs of credit is yet another advantage achieved with extensive usage of bureau data and solutions," said Chandorkar. PNB, BSNL collaborate for mobile wallet Speedpay rollout09 September 2017:Punjab National Bank and state-run firm BSNL has teamed up to roll out an open mobile wallet Speedpay across 10 states in the country. PNB’s speed way will operate like any other mobile wallet. It can be used for paying bills as well as to deposit and withdraw money from retail outlets. "India is now second largest market in the world with 120 crore mobile users. Congratulating BSNL, Punjab National Bank and the technology partners in helping India moving towards less cash economy," Telecom minister Manoj Sinha said at an event to mark the agreement signing ceremony between BSNL and PNB. "The reach of SpeedPay service under this partnership will increase to northern and eastern states. SpeedPay is also an ideal medium for government's direct benefit transfer programme, to ensure quick and direct payment of subsidies to the citizens," BSNL Chairman and Managing Director Anupam Shrivastava said. SBI's first comprehensive digital service platform: SBI’s New App YONO24 November 2017:Finance Minister Arun Jaitley is all set to launch State Bank of India’s (SBI) first comprehensive digital service platform, YONO, which stands for 'You Only Need One' application on Friday. YOMO is a one-stop solution for all digital services including banking, ticket booking, insurance, mutual fund buying and online shopping, SBI targets to achieve mass download on the very first day of its launch. You can also open a savings account, apply loans and online shopping with the help of this app. Some of the key e-commerce partners are Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus along with numerous others. "Customers will be able to seamlessly access lifestyle offerings and financial services with a single user id and password. The portal has been designed to offer maximum customer convenience where each journey has been designed with minimum possible clicks with easy to understand descriptions," said chairman SBI, Rajnish Kumar. 25,000 People to Be Trained By HDFC Bank in Cashless Transactions24th January 2017: After demonetization, there has been a search in demands of cashless transactions.HDFC Bank is providing training to 15000 customers and 10000 businessmen on how to effectively use digital payments on a daily basis they have organized "Digital Literacy Camps" in 275 places in Madhya Pradesh. They are providing this service across an urban, semi-urban and rural area in around 130 branches. HDFC Bank to set up SmartUp zones in 30 cities for startups08 November 2017:HDFC bank has decided to launch SmartUp zones in over 65 branches in 30 cities across the Country. The specially trained bank staff will offer tailor-made banking to entrepreneurs. The branches include those in tier-2 and tier-3 cities that are emerging as start-up hubs," the country's second-largest private-sector bank said in a release. A SmartUp zone was today inaugurated at one of the branches in Lucknow to cater to the needs of start-ups and to encourage entrepreneurship. "At HDFC Bank, we believe that startups need partners, who will be with them from the start of their entrepreneurial journey, creating solutions that evolve as the company grows," HDFC Bank's regional head, UP, Sanjeev Kumar said on the occasion. ICICI Bank Q2 profit down 34% to Rs 2,058 crore, bad loans stable28 October 2017:ICICI bank on Friday reported a huge decline in September quarter net profit because of a smaller one time gain and said that it is expecting a lower bad loan addition in the current fiscal year. Net profit in the quarter fell 33.7% from a year ago to Rs 2,058.19 crore from Rs 3,102.27 crore. The bank had been expected to post a profit of Rs 2,570.10 crore. In the year-ago quarter, the lender had gained Rs 5,682.03 crore by selling a stake in its life insurance arm. Unlike its rivals Axis Bank and Yes Bank, ICICI bank did not report high bad loans in the three months. Kochhar said ICICI Bank retains its earlier guidance that additions to non-performing assets (NPAs) this fiscal year will be lower than previous years. She forecast domestic loan growth in the financial year to be about 15%, led by as much as a 20% rise in retail loans. At ICICI Bank, gross NPA additions declined to Rs 4,674 crore in the fiscal second quarter from Rs 4,976 crore a quarter ago and Rs8,029 crore a year ago. Gross bad loans rose up by 36.7% at the end of September. The bank said that it has exposure to 18 accounts that are part of the second list of defaulters compiled by RBI. Bank of Baroda customers wrongly debited with NEFT and RTGS fees30 August 2017:Over 8000 customers of public lender Bank of Baroda found current and savings account debited with NEFT and RTGS transaction charges. “Approximately 8300 accounts were also impacted on August 19, 2017, on account of the erroneous debt of service charges that were not due from the customers,” the bank said in a statement on its website dated August 22. “These charges have since been reversed and impacted customers have been duly informed via SMS on August 20, 2017.” The bank is migrating its core banking technology platform to the latest Finacle version 10.x that is aimed to provide enhancement in services to its customers. “Considering the massive scale and magnitude of the up gradation, there have been some glitches in the NEFT/ RTGS and Outward clearing related transactions, which have been addressed by our team on a war footing basis around the clock and have largely been fixed ever since,” the statement said. “Intermittently, there have been challenges such as the speed of the systems, which we are currently addressing; we expect this process to be completed during the course of this week.” |
Allahabad Bank IFSC Code West Bengal Murshidabad
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