Peoples' Co-operative Bank
Peoples' Co-operative Bank IMPS BRANCH
+912456220518
Understanding IFSC Code: The Digital DNA of Peoples' Co-operative Bank
When performing any digital transaction in India, the Indian Financial System Code
(IFSC) acts as a critical identifier. For the Peoples' Co-operative Bank IMPS
branch of Peoples' Co-operative Bank, the code SVCB0009002 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 SVCB0009002 Code
An IFSC is an 11-character alphanumeric code. Let's break down the logic behind the code for this specific branch:
Bank Identity
"SVCB" represents Peoples' Co-operative Bank
Control Character
Always '0' (Reserved for future use)
Branch Locator
Unique code for Peoples' Co-operative Bank IMPS
Payment Systems Supported by SVCB0009002
| 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—431801402—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 Peoples' Co-operative Bank in HINGOLI typically follows the RBI holiday calendar. Digital transfers via SVCB0009002 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 SVCB0009002 is the valid code for Peoples' Co-operative Bank IMPS at HINGOLI, ensure the beneficiary name matches perfectly in your mobile banking app.
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Branch Context
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Platform Links
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