Grain Merchants' Co-operative Bank
Grain Merchants' Co-operative Bank IMPS BRANCH
+914026677552
Understanding IFSC Code: The Digital DNA of Grain Merchants' Co-operative Bank
When performing any digital transaction in India, the Indian Financial System Code
(IFSC) acts as a critical identifier. For the Grain Merchants' Co-operative Bank IMPS
branch of Grain Merchants' Co-operative Bank, the code IBKL0551GMC ensures
that your funds are routed through the Reserve Bank of India's (RBI) structured network without manual
errors. In an era of instant payments, having the correct IFSC is as important as the account number
itself.
Anatomy of the IBKL0551GMC Code
An IFSC is an 11-character alphanumeric code. Let's break down the logic behind the code for this specific branch:
Bank Identity
"IBKL" represents Grain Merchants' Co-operative Bank
Control Character
Always '0' (Reserved for future use)
Branch Locator
Unique code for Grain Merchants' Co-operative Bank IMPS
Payment Systems Supported by IBKL0551GMC
| System | Transfer Limit | Processing Time |
|---|---|---|
| NEFT | No Minimum (Up to ₹50 Lakhs+) | Half-hourly batches (24x7) |
| RTGS | Minimum ₹2 Lakhs | Real-time settlement |
| IMPS | Up to ₹5 Lakhs | Instant (Mobile/P2P) |
Why do you need the MICR Code?
While IFSC is for digital transfers, the Magnetic Ink Character Recognition
(MICR) code——is primarily
used for the processing and clearance of physical cheques. This 9-digit code helps in
identifying the bank and branch during the Cheque Truncation System (CTS) cycle, making clearing
faster and error-free.
Bank Holidays & Availability
The Grain Merchants' Co-operative Bank in BANGALORE typically follows the RBI holiday calendar. Digital transfers via IBKL0551GMC for NEFT/RTGS are now available 365 days a year, regardless of physical branch timings or Sunday closures.
Security Warning & Verification
Always verify the branch details before making a large payment. While IBKL0551GMC is the valid code for Grain Merchants' Co-operative Bank IMPS at BANGALORE, ensure the beneficiary name matches perfectly in your mobile banking app.
Bank Search Indexing & Metadata
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Financial Tools
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Branch Context
- • Grain Merchants' Co-operative Bank IMPS Contact
- • Address of Grain Merchants' Co-operative Bank
- • MICR Code Finder
- • MAHARASHTRA Banking Circle
Platform Links
- • Anand Design DevBox
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- • IFSC Finder v2.0
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