IFSC code for Shinhan Bank, Shinhan bank imps, Mumbai, Maharashtra
Updated on: Saturday, March 1, 2025
IFSC CODE
SHBK0000001
Shinhan Bank
Shinhan Bank Imps, Mumbai, Maharashtra
Address
Peninsula Corporate Park, 701,702, Tower 1, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400013
Shinhan Bank
Shinhan Bank Imps, Mumbai, Maharashtra
Address
Peninsula Corporate Park, 701,702, Tower 1, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400013
Bank Details
IFSC Code
SHBK0000001
MICR Code
400659002
Bank Code
(Based on IFSC)
SHBK
Bank Code
(Based on MICR)
659
Contact
+912261992000
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IFSC Code of Shinhan Bank
Every Shinhan Bank branch in India has a unique Shinhan Bank IFSC Code. Shinhan Bank IFSC Code enables Shinhan Bank account holders to send and receive money electronically. Shinhan Bank IFSC Code is assigned by RBI (Reserve Bank of India) to each branch as it helps in carrying out RTGS and NEFT transactions smoothly.
Benefits of IFSC Code
Unique Identification: IFSC code helps in unique identification of all banks and their respective branches.
Smooth Fund Transfer: IFSC code enables convenient and hassle-free transfer of funds from one bank account to another.
Monitoring Transactions: IFSC code is used by RBI to keep track of all the bank transactions. It lowers the chances of discrepancy.
Format of Shinhan Bank IFSC Code SHBK0000001
The IFSC code of all accounts in the same branch of the bank is standard. It is an 11 digit alphanumeric code.
The first four letters of the code, i.e., SHBK, denotes the name of the bank which is Shinhan Bank.
The fifth character is 0.
The last six digits of the code, i.e., 000001, represents the branch which is Shinhan Bank
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MICR Code of Shinhan Bank
Every Shinhan Bank branch in India has a unique Shinhan Bank MICR Code. MICR code for Shinhan Bank can be found on a cheque leaf and bank passbook. It is a 9 digit code printed on the last line of a cheque leaf. One can also find MICR code on the website of Shinhan Bank. MICR code is used for faster and secure processing of cheques.
Benefits of MICR Code
High Level of Security: The use of magnetic ink ensures MICR characters are readable even if a document is obscured by marks.
Authentication of Docs: MICR code authenticates the originality and legality of paper based docs. in the banking system.
Faster Processing: There is no manual input and hence the processing of MICR information is fast and errors are reduced.
