Following are the IFSC Code Details of Mumbai Branch Apna Sahakari Bank Limited Greater Bombay ASBL0000005

Which Bank IFSC Code is ASBL0000005?

IFSC Code ASBL0000005 belongs to Branch Name: Dr Ambedkar Road of Apna Sahakari Bank Limited located at Dhanu Bldg., Dr Ambedkar Road, Parel, Mumbai 400012

What is IFSC Code?

IFSC stands for Indian Financial System Code. It’s an 11-digit alphanumeric code that uniquely identifies every bank branch in India that participates in online money transfer systems. It works as a crucial address for ensuring smooth and accurate electronic fund transfers. It acts as a crucial address for ensuring accurate electronic fund transfers.

Structure of an IFSC Code:

First 4 characters: Bank’s name (e.g., HDFC, SBI, ICICI)
5th character: Always 0 (zero)
Last 6 characters: Specific branch of the bank

Uses of IFSC Codes:

Online money transfers: NEFT, RTGS, and IMPS all require IFSC codes to specify the recipient’s bank branch.
Cheque clearance: Used for faster cheque clearance processes.
Linking bank accounts: Linking accounts for mutual funds, loan repayments, etc., often involves IFSC codes.

How to Find Your IFSC Code:

Cheque book: Printed at the top of the cheque leaf.

Bank passbook: Printed on the front page.

Bank website/app: Available in your account information.

Third-party websites: Several websites offer IFSC code search features.

Bank branch: Visit your branch for assistance.

Common Questions:

Do all bank branches have IFSC codes?

No, only those participating in online money transfer systems have IFSC codes.

Can I use the same IFSC code for all transfer types?

Yes, the IFSC code remains constant for NEFT, RTGS, and IMPS.

What happens if I enter an incorrect IFSC code?

The transfer may be delayed or returned, so double-check the code before initiating a transaction.

Can I find IFSC codes for international banks?

No, IFSC codes are specific to Indian banks. For international transfers, you’ll need SWIFT codes.

Additional Information:

IFSC codes are issued by the Reserve Bank of India (RBI).
They are essential for smooth and secure electronic fund transfers in India.
Always verify the IFSC code with the recipient before initiating a transfer to avoid errors or delays.

About Apna Sahakari Bank Limited:

Apna Sahakari Bank Ltd is a multi-state cooperative bank headquartered in Mumbai, Maharashtra, India. It was established in 1968 and has a network of over 1,000 branches across India.

Here are some of the key features of Apna Sahakari Bank Ltd:

• Ownership: The bank is owned by its members, who are primarily individuals and small businesses.
• Governance: The bank is governed by a board of directors, which is responsible for setting the bank’s strategic direction and overseeing its operations.
• Employees: The bank employs over 10,000 people across India.
• Financial performance: In 2022-23, the bank’s total assets were ₹1.5 trillion (US$19 billion), and its total deposits were ₹1.2 trillion (US$16 billion).