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EXPORT IMPORT BANK OF INDIA IFSC Code

Exim Bank of India represents a rare case of an institution where the concept and need for such an institution had been debated for a long period-more than two decades – before it was finally set up in 1982. The two decades prior to the establishment of Exim Bank witnessed significant changes in the industrial and the trade scenario. Indian exports during the fifties and the early sixties consisted of primary commodities and traditional manufactures like jute and cotton textiles. The dominant viewpoint was that in India’s case, expansion in domestic demand alone could realistically serve as the engine for economic growth, since export expansion opportunities were limited and there were fundamental constraints (like inadequate infrastructure) to export growth. The ideology relating to the manufacturing sector was to promote industrialization through import substitution. As a result, the export sector remained neglected with a small share in India’s GDP.

Export-Import Bank IFSC Code 11 digit code where first 4 digit are alphabets , 5th digit is always ZERO and ast 5 digit represents branch code. The IFSC and MICR Code for Export-Import Bank are easily available online and also on cheque books issued by the bank. Every cheque leaf of a cheque book issued by the bank will carry the IFSC code of the issuing branch.

Export-Import Bank NEFT, RTGS, IMPS Timings

Transaction timings for Export-Import Bank are from Monday to Saturday (except 2nd & 4th Saturday which is Bank Week Off) and for NEFT timings are from 8AM to 6:30 PM, for RTGS timings are from 8 AM to 4:30 PM. IMGS allows 24x7 transfer of funds.

Export-Import Bank NEFT, RTGS, IMPS transaction limit

NEFT has a limit of 50,000/0 maximum per transaction while RTGS is primarily meant for large value transactions with min amount of INR 2 Lakhs with no upper limit in RTGS transactions with Export-Import Bank. IMPS has Rs. 50,000 max fund transfer in a day.

Export-Import Bank NEFT, RTGS, IMPS Charges On Digital Plateform

  1. RBI has removed charges for NEFT, RTGS payments. It has asked banks to pass on benefits to customers.
  2. RTGS is used for transferring high value amounts. The minimum amount that can be currently transferred is Rs 2 lakh.
  3. This move will benefit the small traders who deal in small value transactions and operates on small margins.
  4. NEFT is a payment system facilitating funds transfers from one bank account to another.

Explore Bank IFSC Codes/ MICr Codes

BankIFSCcodelist.in provides IFSC / MICR Code Details For All 252 Computerised Banks and their 163677 Branches Listed.


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