The country's central bank (RBI) has specified three ways in which we can remit money. These include the popular NEFT, RTGS and IMPS. However, to undertake these transactions, we must have the IFSC Code allotted by RBI to each bank and the specified branch.
The Punjab National Bank IFSC Code is an 11-digit alphanumeric code having special 4 characters, 'PUNB', stand for the name of the bank, the fifth character is always 'zero' for future use and the final six characters specify the 'exact branch address'.
If you are searching for the IFSC code of your home branch, you can use two mechanisms to search. In the offline mode you will find it written on your cheque book, which has been given to you by the Punjab National Bank branch. If you are looking for online IFSC Code of Punjab National Bank you can find here in Goodreturns.
Punjab National Bank (PNB) is the second largest bank in the country in terms of branches. PNB was formed in May, 1894, which makes it an almost 122 year old bank in the country.
Today, the bank has emerged among the reputed banks in the country with a very wide spread bank network. There are many branches of PNB, to transfer money from one branch to the other, you should have IFSC codes of PNB.
History of PNB
The first branch of Punjab National Bank was opened in the 1895. Since then the bank has never looked back.
Interestingly, the bank declared a dividend of 4 per cent, in the first seven months of operations. While, the first branch was opened in Lahore, the second was opened in Rawalpindi in 1900.
PNB has served the masses of the country in the almost 122 years of its existence. It has also been proud to serve leaders like Jawahar Lal Nehru, Gobind Ballabh Pant, Lal Bahadur Shastri, Rafi Ahmed Kidwai, Smt. Indira Gandhi are leaders who have banked with Punjab National Bank.
Do not forget to visit the IFSC codes section of PNB for sending and receiving money.
In July 1969, PNB was nationalized. Today, the government of India holds a maximum stake in the bank. For the last many years, the bank has had an impeccable track record in the timely payment of dividend.
Lately, the bank has been facing some problems, regarding non performing assets. However, as the economy recovers it is hoped that there would be recovery in the asset quality of the bank.
Search for PNB IFSC Code
Our user friendly portal allows you to search for the IFSC code, through the State and the branch. We have covered almost all of the branches of PNB and will keep updating the same. You first need to key in the name of a particular bank, followed by the find bank option.
GoodReturns.in not only provides, the IFSC codes for Punjab National Bank, but, also for almost all of the commercials banks in the country.
There are a number of places where you can find the list of PNB IFSC codes.
One of the best places is your cheque book. If you look at your PNB cheque book carefully, you will observe that each of the cheque leaves have the IFSC codes of PNB written on the same. There are various other places where you will get the IFSC code of PNB and one of them is your Punjab National Bank passbook. Of course, in this time and age the best place to locate it would be through the various websites in the country. We at goodreturns.in have also provided a very comprehensive list of all of the IFSC codes of PNB in the country. These are very much updated and can be used as a reference. It is best to bookmark websites like ours, which will come in handy in the days to come. Remember, always verify the correct IFSC code before remitting money.
Whenever PNB adds new branches, we update the list of PNB IFSC Codes to reflect the new branches. Say for example, if Punjab National Bank has added a new branch in the state of Uttar Pradesh. We add that new branch IFSC Code. It is important to add all branches and have an update of these as soon as is possible to help readers with the latest IFSC Codes. Normally, the IFSC Codes of PNB branches and other branches would never change and it is more or less permanent. The RBI allows new branches to every bank and the government owned banks have been rapidly expanding especially in the unbanked areas, to enable that banking reaches all. Punjab National Bank being one of the top lenders in the country has also facilitated the process of banking for all and has made great strides in setting up branches through the length and breadth of the country. Hence, if you are looking to the list of IFSC Codes of PNB do not forget to visit our website, which is updated as and when the need is felt to reflect the branches.
The IFSC Codes, whether of Punjab National Bank or any other branch depends on the RBI. However, the initial codes for each branch will remain the same, while the branch code changes.
So, each time a new branch comes on we have the IFSC Codes of that bank being issued. For example, recently banks like Airtel Bank was launched. These are not commercial banks, but, largely payments banks. Off late there are no licences that were issued by the Reserve Bank of India.
Every bank and branch has its own unique IFSC code. So, every PNB branch has its own code. So, State Bank of India also has its own code. These days there are so many banks, that each of them you should know. One thing is you cannot transfer money unless you know these and this is particularly true for NEFT and RTGS transactions. It is important to remember that you also need the IFSC code for IMPS transfer.
You need to register with Punjab National Bank for sending money through NEFT and RTGS. the first thing that one needs to do is apply for net banking. Once your net banking is done, you would be able to see "transfer funds".
Under that you can either send to an existing account or you can add a beneficiary. To add a beneficiary, you first need to check the IFSC codes and the exact account number. Thereafter, you can add a beneficiary.
The bank will then provide some security features to confirm the beneficiary, which is an added security measure. Once the same is added you can send money to the account using the IFSC Codes mentioned and the PNB internet banking account. The process is not cumbersome, though it should take time for registration of the beneficiary.
In any case, by chance if the IFSC code is wrong, PNB would remit the amount back and there are no worries.
It is highly possible at times that the IFSC Codes that you have of PNB is wrong. It such cases when you try to remit the money it would not go through. So, what you need to do is approach the Punjab National Bank branch and inform him of the same. Also, in some cases it may be highly possible that you just do not get the bank branch at all. In all such cases, what you need to do is contact the branch. At times, the IFSC Codes list of PNB branches may not be updated, in which case, you should find a way to look at other ways to fund the updated list. The best way would be to visit the branch of PNB and source the exact IFSC Code from them.
Once you have logged in and created your internet banking account, you have to register the beneficiary by using the IFSC Code, name of the beneficiary etc. Now, different banks have a different time period to register a beneficiary. Some do it quickly, while others take a few hours, while still others may take some time.
Make sure that you register a beneficiary with their IFSC account, when you have to make regular payments. Let us give an example. When there is a need to make payment for say a payment like credit card, which is every month, there is a need to make payments at regular intervals. So, you need to register the beneficiary through your PNB account. For this you need your internet banking account, which is a must. In case you do not have one, you can approach the branch to get all the details of the same.
Punjab National Bank is one of the banks which are in existence before India got Independence. As of now, PNB has nearly seventThousand branches and almost ten thousand ATMs in more than seven hundred and fifty cities. The bank has nearly eight crore customers and has branches in other countries as well such as Hong Kong, Dubai, Kabul, etc. The founder of Punjab National Bank was Lala Lajpat Rai. He was a freedom fighter and popularly known as Punjab Kesari. This bank came into existence in 1984.
If we see the IFSC code of Punjab National Bank for all the branches, the IFSC code starts with PUNB and then the number will change accordingly. To understand this, we need to know how IFSC code is determined or assigned for a bank.
If we see the IFSC code, there will be 11 alpha-numeric code of which the first four will be alphabets, and those alphabets are bank code. And for Punjab National Bank the bank code is PUNB. The fifth character will be zero; This is zero because this is a slot which is kept for future use and the remaining six digits represents the bank code which explains the exact location of the branch.
Punjab National Bank has offered a lot of services to its customers to make banking easy for them. Services such as mobile banking, Internet Banking, recently Punjab National Bank has launched its official UPI App as well called as PNB UPI app. This app can be downloaded from your respective mobile stores.
To know if PNB IFSC Code is required in transferring money using MMID. First, we need to know what is MMID and how it works?
MMID full form is Mobile Money Identification Number, and it is a part of IMPS (Immediate Payment Service). Basically, in IMPS there are two types of services one is using MMID, and the other is using account number.
Using MMID service means in this service firstly you need to generate your MMID code by visiting your bank or by Internet banking service. Once your MMID is generated. Anyone can send you money by keying in your MMID and mobile number. In this service, IFSC code is not needed. In case you want to send money MMID the recipient should have pre-generated MMID.
Using Account Number service is like sending money in the traditional way. Here you will be sending money using the recipient's account number and IFSC code of his bank branch. This is very simple and an easy process.
You can use the IFSC Code to send and receive money, but, what if there is a delay after you send the money to a Punjab National Bank branch. In such case, you have to contact your branch. Sometimes, it may take a couple of hours to transfer the money and the beneficiary to receive the amount. However, at times it may take even longer than that. In such cases what you need to do is check and check again, if the PNB IFSC Code that you have furnished is correct. Today, there are so many branches of the IFSC Code, however, there are unlikely to change the code. In fact, they might eliminate the same altogether, if the branch itself has closed.
The method of money transfer has become easy and flexible with the introduction of payment mechanisms such as NEFT, RTGS, and IMPS. The proper use of the IFSC is one thing which is common in all these payment structures. Let us read more about these methods of payment.
To find the PNB IFSC, customers can use the services listed below.
Through PNB Cheque Book- By looking to a PNB cheque book issued by the PNB bank, account holders can find the IFSC Code of their branch. The cheque includes the IFSC stated at the top of the page and the MICR code at the bottom of the page.
Through PNB Passbook- On the front page of the passbook, the standard banking details of an account holder is specified. This key information contains the account number, the account holder's address, IFSC code of the respective bank branch. Hence, a passbook is handy when searching for an IFSC.
Through PNB Net Banking Portal- PNB provides the Netbanking facility to its customers to take advantage of multiple online banking facilities which they can reap from the comfort of their home or workplace as per their convenience. An account holder can therefore use the Netbanking facility to find the IFSC code of his / her respective branch.
Through PNB Mobile Banking app- PNB Mobile Banking also presents an option to search for the correct IFSC Code according to your branch.
The comprehensive listing of PNB Bank's IFSC codes and its branches is required on the RBI website. Perhaps not only PNB Bank, but all of India's banks and their respective branches are identified on the authorised RBI website. The best online method for locating the IFSC code of each PNB bank branch is either third party finance websites or the bank's website respectively. Goodreturns.in includes a detailed table containing IFSC codes for PNB Bank branches across India. Through visiting the Goodreturns.in website, a customer of any bank can conveniently and reliably identify the IFSC and MICR code of their bank branch on a 24x7 basis. To find the IFSC and MICR code of any branch of PNB Bank, follow the steps mentioned below from your comfort.
Magnetic Ink Character Recognition is the complete form of MICR Code. It is a specific code that is utilized in the banking sector to accelerate the cheque clearing process. In fund transfer operations, both the IFSC and MICR codes play a key role. The MICR Code consists of nine characters in such a way that:
By following the below-covered ways customers of PNB can locate the MICR code of their specific branch:
PNB Cheque Book: In order to locate the MICR code of PNB, account holders can search it on the cheque book issued by the PNB.
PNB Passbook: During the opening of the account, one can refer to the passbook issued by the bank to locate the MICR Code of his / her respective bank branch
PNB Netbanking Portal: An account holder can use the Net Banking facility to search for the MICR Code.
PNB Mobile Banking Apps: An alternative to look for the appropriate PNB IFSC is also offered by PNB Mobile Banking. By logging into the app one can check the IFSC and MICR code of his / her specific branch.
The SWIFT code forms of a mixture of digits which is used during international transactions to mark a branch of a bank. For each bank, SWIFT codes are specific and are the default form for BIC. The SWIFT Code consists of 8 to 11 digits, and to access the SWIFT Code, PNB customers need to contact the PNB customer support team.
By following the informations covered below, you can clearly understand the difference between IFSC, MICR and SWIFT Code of Punjab National Bank.
The term 'RTGS' stands for Real Time Gross Settlement, which can be specified through an order by order basis (without netting) as the simultaneous (real-time) settlement of funds transfers separately. 'Real Time' implies the transfer of requests at the time they are received rather than at a subsequent time. 'Gross Settlement' means that the settlement of requests for the transfer of funds takes place separately (on the basis of instruction by instruction). Taking into account that the settlement of funds takes place in the records of RBI, thus the transfers are definitive and irrevocable.
NEFT is an electronic transfer system of funds that works on the basis of a Deferred Net Settlement (DNS) that settles transactions in batches. In DNS, the settlement takes place until the specific cut-off period for all transactions takes place. In NEFT, these transactions are netted (payable and receivable), while in RTGS the transactions are independently settled. NEFT, for instance, actually runs in hourly batches. [There are twelve settlements on week days from 8 am to 7 pm and six settlements on Saturdays from 8 am to 1 pm.] Any transaction conducted after a given settlement period will have to wait for the next defined settlement time. Contrast to this, transactions in the RTGS are processed continuously during the working hours of the RTGS.
The Punjab National Bank (PNB) SWIFT Code can be used while transferring money abroad. The Punjab National Bank (PNB) INDIA Swift Codes are issued by the International Organization for Standardization (ISO). The Swift Code distinguishes branches of the Punjab National Bank (PNB) that participate in transactions of overseas funds. The Punjab National Bank (PNB) Swift code is a unique code for each division. PNB SWIFT Codes are used particularly for international wire transfers, as well as for exchanging other messages between banks. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a standard type of Business Identifier Codes accepted by the International Organization for Standardization (ISO) (also known as ISO 9362, SWIFT-BIC, BIC code, SWIFT ID or SWIFT code). For both financial as well as non-financial institutions, it is a specific identification code. (A code can also be known as a Business Entity Identifier or BEI when assigned to a non-financial institution.) These codes are used for transferring funds among banks, especially for international wire transfers, and also for exchanging other messages among banks. Also, the codes can be identified on account statements. Basically, SWIFT and BIC codes are the same.
SWIFT Codes are of 8 to 11 characters, for example:
SWIFT code: PUNBINBBISB
Swift code (8 characters): PUNBINBB
Branch name: PUNJAB NATIONAL BANK
Branch address: K-16 CONNAUGHT CIRCUS
Branch code: ISB
Bank name: Punjab National Bank
IMPS, Immediate Payment Service, is among the one through which transfer of funds is done immediately, regardless of bank timings and holidays, functions much as a NEFT transfer. Using IMPS one needs an MMID and mobile number, or the bank account number and the IFSC code. Via online banking, mobile banking and also at ATMs, customers of PNB can use this service to transfer funds 24x7. Up to Rs.50,000 per day can be transferred through customers who want to use the IMPS supported by PNB. On a real-time basis, the funds will be transferred almost instantly. IMPS has no gaps, but in the event of emergencies, and transfers that need to be made quickly, this is one of the best fund transfer mechanisms. The bank will send a confirmation message once the transfer is completed. On the other side, the bank of the beneficiary should also deliver a confirmation to the beneficiary reminding them that the transaction is completed and that the amount has been transferred to their bank account. The IMPS facility is available for use by anyone with a bank account at the Punjab National Bank. They must have an online banking account with the bank if one wants to transfer funds through online banking. If one would like to utilise mobile banking, then he or she should be a registered user of Punjab National Bank Mobile Banking App. In other instances, to render the transaction, the customer can visit the nearest PNB ATM.
The Immediate Payment Service is an easy way to quickly transfer funds and make payments from your bank account. IMPS provides users with a range of advantages. Many of the advantages include:
Depending on the method selected, the details you will need to get from the beneficiary to allow an IMPS transfer.
MMID method: A Mobile Money Identification Number is an MMID. It consists of 7 digits and is assigned to an account as an unique identifier. To identify the bank, the first four digits reflect an unique code. An ATM, mobile banking or internet banking can be used to create an MMID. You need the following details to render an IMPS transfer using the MMID method:
IFSC: Indian Financial System Code (IFSC) is an alphanumeric code used to define the bank and the branch of the bank to which the transfer of funds has to be made. You need the following details to make an IMPS transfer using the IFSC strategy:
Following the below listed 3 methods you can use IMPS fund transfer facility:
Net Banking: For making an IMPS transfer, there are two phases. You first have to add and activate the payee to your account. A one-time process is the first step. It will be preserved for future transactions once this is completed.
Steps to add beneficiary
Steps to use IMPS transfer
You can take these measures to make the transfer once your beneficiary has been added:
Via mobile application
There are two methods to make an IMPS transfer with this process as well. You first need to link and approve the payee to your account for the same.
Steps to add beneficiary
Steps to initiate IMPS transfer
Once your payee is successfully added you can follow the below listed steps in order to initiate the fund transfer request via IMPS.
By using the steps below you can perform an IMPS transfer at an ATM:
Steps to add beneficiary
Steps to initiate IMPS transfer
Depending on the method selected, the details you will need to get from the beneficiary to allow an IMPS transfer are:
MMID method: A Mobile Money Identification Number is termed as MMID. It comprises 7 digits and is linked to an account as a unique number. To identify the bank, the first four digits represent a unique code. An ATM, mobile banking or internet banking can be used to generate an MMID. You need the following details to render an IMPS transfer using the MMID mode:
IFSC method: Indian Financial System Code is termed in short as IFSC. IFSC code is an alphanumeric code used to classify the bank and the branch of the bank to which the transfer of funds has to be rendered. You need the following details to make an IMPS transfer using the IFSC mode:
PNB offers Immediate Payment Service or IMPS to enable customers to transfer funds faster and on the go. IMPS is the real-time transaction method which takes less than 30 minutes to get the funds transferred in the account of the beneficiary. However, there are IMPS charges that must be considered by the customers of PNB before making the use of IMPS. The quickest fund transfer option available is IMPS or Immediate Payment Service. Mobile banking or internet banking services can be used to transfer funds via IMPS.
A registered user of the PNB mobile application can generate for each account a special 7 digit code called the Mobile Money Identifier or MMID. This contains the unique code in the first four digits for the bank providing this service. This helps you to make transactions safely and with minimum error to beneficiaries who have an MMID. Upon installing the PNB mobile banking application, from an ATM or from the nearest PNB branch, you can get your MMID. You can access the services provided by PNB through different channels to get MMID in order to use IMPS such as:
The latest PNB IMPS charges are Rs.5 per transaction. But even on www.pnbindia.com, you can search some revised details on service charges at the Punjab National Bank. For all charges imposed on the IMPS services provided by PNB, GST is applicable.