State Bank of Travancore (SBT) is considered to be one of the major Indian Bank of India which was founded in 1945 in the erstwhile princely state of Travancore. It is also one of the leading banks in Kerala state with a presence across the country as well. It got its name ‘State Bank of Travancore’ after it became a subsidiary of the State Bank of India SBI in 1960 under the SBI Subsidiary Banks Act, 1959. The bank has over 1000 branches in 18 states and 3 union territories and is headquartered in Thiruvanthapuram, Kerala.
State Bank of Travancore offers new – age banking services and range of banking products for its retail and commercial customer. Some of the important banking products which the bank provides to its customers are as follows:
- Savings Accounts
- Loans
- Deposit Schemes
- Agriculture and Allied Activities
- Corporate Products and Services
IFSC Code of State Bank of Travancore, 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. SBTR
- The fifth character is always 0
- And the last character represents the branch address i.e. 000607
[The IFSC Code used in above example is of Rishi Nagar, Bhopal i.e. “SBTR0000607”].
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