KARB0000238 is the IFSC code of Karnataka Bank Limited, that is assigned by the Reserve Bank of India (RBI). This code helps the Indian financial system to transfer funds from bank account numbers in India and internationally like NEFT/RTGS/IMPS
The details above validate that the Karnataka Bank Limited has its operations in the Dabaspet, Karnataka branch located at the Site No 1 And 2 , Khata No 769 / 779 /1 , 770/780/2 , At Dabaspet, Sompura Village And Hobli, Nelamangala Taluk- 562111. This confirms that if you plan on doing a financial transfer, you must be sure of the Karnataka Bank Limited IFSC code to ensure that the transfer happens without any hassles.
While all of us understand IFSC codes by now, let’s understand MICR code as well. This is termed as Magnetic Ink Character Recognition which is a character recognition technology that helps in processing cheques faster. Karnataka Bank Limited bank branch has a unique MICR code which helps RBI identify the Karnataka Bank Limited branch, and speed up the cheque clearing process.
While Karnataka Bank Limited IFSC is an 11 digit code, MICR is a 9 digit code, and the basic difference between these two codes is that IFSC code is used for Karnataka Bank Limited online transactions, while MICR is used for Karnataka Bank Limited offline transactions, like Cheque.
These two aspects are of great importance for Karnataka Bank Limited financial transaction in both Karnataka Bank Limited online transactions and Karnataka Bank Limited offline transactions, and you can choose the one that works well for you.
Uses of Dabaspet IFSC Code:
NEFT - National Electronic Fund Transfer. Enables you to electronically transfer funds from your bank account to any other account of the same bank or different bank.
RTGS - Real Time Gross Settlement. Transfer a minimum limit of Rs. 2 lakh.
IMPS - Immediate payment service. Bank account holder can transfer funds 24 x 7 365 days
Online Fund Transfer via NEFT, RTGS and IMPS.