Lakshmi Vilas IFSC Code Bhopal | Madhya Pradesh

Lakshmi Vilas Bank is a public sector scheduled commercial bank which was founded in 1926. The bank offers savings schemes, deposits, loan services, and locker facilities amongst other financial products. The bank has its headquarter in Karur, Tamil Nadu, India. It has more than 462 branches spread across the nation.

The bank offers various products and services to meet the banking need of the customers.

IFSC Code of Lakshmi Vilas Bank, Bhopal

Reserve Bank of India (RBI) has launched IFSC codes which stand for Indian Financial System Code. This code was introduced by the RBI in order to ensure security and safety of the transactions. IFSC Code also helps in indentifying the bank and branch where the account of the beneficiary is held. RBI has also mandated IFSC code for different bank transactions. The IFSC code helps in recognizing each and every bank and its branches separately. The IFSC Codes follow two payment and settlement systems in India which are as follows:

• RTGS (Real Time Gross Settlement) 
• NEFT (National Electronic Fund Transfer) 

IFSC Code is 11- digit code assigned by the Reserve Bank of India (RBI) to every bank as a part of NEFT / RTGS.

In IFS Code

• First four characters identify the bank name i.e. LAVB
• The fifth character is always 0
• And the last character represents the branch address i.e. 000150

[The IFSC Code used in above example is of Kwality Business Center, Plot No. 7, Zone li, Bhopal i.e. “LAVB0000150”].

Bhopal is a city in the central Indian state of Madhya Pradesh. The city also considered to be the city of lakes for its various natural as well as artificial lakes and is also one of the greenest cities in India. The amalgamation of urbanized Bhopal with its old form has lent the city unique genre of art and culture.