Both IFSC codes and BSR codes are similar in the purpose they serve: they help uniquely identify the bank. The main difference between the two, however, is the number of digits used to represent the information. While IFSC codes comprise of 11 letters, BSR codes are only 7 digits in length.

Which bank BSR code is 0014431?

State Bank Of India Specialized Agr Comm BSR Code

How is BSR code different from branch code?

Bank BSR code is different from the branch code used for bank drafts, etc. This code is unique for each individual branch of a bank. Basic Statistical Returns is a system which initiates to integrate the data relating to various commercial banks and promotes the filling of the same with RBI at regular intervals.

What does BSR code in TDs in India mean?

What does BSR mean? BSR Code is issued by the Reserve Bank of India to all Indian banks. It consists of seven digits code with first three digits identifying the bank and remaining four digits identifying the branch. BSR is used while filling the TDS and TCS (Tax reduction at source and Tax collected at source) returns.

What’s the difference between IFSC and BSR in India?

IFSC and BSR both can be used in context to Indian financial system codes. IFSC and BSR both codes are used to represent the branch of a bank uniquely. Therefore, confusion may arise that if they share the basic definition then what is the difference between them.

When does BSR 1 and BSR 2 come out?

BSR 1 – Return on Advances (half-yearly) from all branches on the last Friday of June and December. It’s in two parts – Part I for accounts with limits over Rs.10000 and Part II for accounts with limits of Rs.10000 and less. BSR 2 – Return Deposits (half-yearly) from all branches on the last Friday of June and December.