Andhra
Bank is a medium – sized public sector bank (PSB) of India which
was founded by the eminent freedom fighter Dr. PattabhiSitarmayya in
1923.The headquarters of Andhra bank is in Hyderabad, Telangana,
India.
The
bank has a network of 2803 branches, 4 extension counters, 38
satellites offices, and 3636 ATMs. At present the bank operates in 25
states and three Union Territories.
The
bank has a tie – up with various financial institutions like Kotak
Mahindra Bank, Reliance, Birla Sun Life Mutual Fund and Fidelity
Mutual Fund, assisting them in sales of their mutual Fund products.
The bank has also signed an agreement with Memorandum of
Understanding (MoU) with Maruti Suzuki ltd. for financing four
wheeler vehicles.
Andhra
bank offers a wide range of products and services to its customers
such as consumer banking, corporate banking, finance and insurance,
private banking wealth management, social, agricultural,
international and corporate banking services.
IFSC Code of Andhra Bank, Surat
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. Andhra Bank IFSC code define below -
In
IFS Code
- First four characters identify the bank name i.e. ANDB
- The fifth character is always 0
- And the last character represents the branch address i.e. 001713
[The
IFS code used in above example is of Gujarat, Surat, Gandhinagar
i.e., “ANDB0001713”].
