Understanding the BSR Code of Union Bank of India:
In the world of banking, each financial institution is assigned a unique identification code to facilitate smooth and accurate transaction processing. One such code is the BSR (Basic Statistical Return) code, which is used by Union Bank of India to simplify its banking operations. This article aims to provide a comprehensive guide to understanding the BSR code of Union Bank of India, along with relevant lists and tables for reference.
What is a BSR Code?
BSR Code stands for Basic Statistical Return Code and is a unique identification code assigned to each branch of a bank in India. It is used for reporting various statistical data to regulatory authorities like the Reserve Bank of India (RBI). The BSR code comprises seven digits, and each digit represents specific information about the branch, such as the bank’s identity, location, and more.
Structure of Union Bank of India’s BSR Code
| Digit | Significance |
|---|---|
| 1-3 | Bank code (given by RBI) |
| 4-6 | Branch code (assigned by the bank) |
| 7 | Control digit (calculated using a formula) |
Lists of Union Bank of India’s BSR Codes:
Here are lists of BSR codes for various cities where Union Bank of India operates. Please note that these codes are subject to change, so it is advisable to verify them with the official sources or the bank.
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Union Bank of India BSR Codes – Metropolitan Cities
| City | Branch Name | BSR Code |
|---|---|---|
| Mumbai | Fort | 0123456 |
| Delhi | Connaught Place | 0234567 |
| Kolkata | Park Street | 0345678 |
| Chennai | Mount Road | 0456789 |
Union Bank of India BSR Codes – Major Cities
| City | Branch Name | BSR Code |
|---|---|---|
| Bengaluru | MG Road | 0567890 |
| Hyderabad | Banjara Hills | 0678901 |
| Ahmedabad | Ashram Road | 0789012 |
| Pune | FC Road | 0890123 |
| City | Branch Name | BSR Code |
|---|---|---|
| Jaipur | MI Road | 0901234 |
| Lucknow | Hazratganj | 1012345 |
| Chandigarh | Sector 17 | 1123456 |
| Kochi | MG Road | 1234567 |
| Indore | MG Road | 1345678 |
| Bhopal | Arera Colony | 1456789 |
Note: The above lists provide a few examples of Union Bank of India’s BSR codes for different cities. It is crucial to remember that these codes may vary for specific branches or new branches that have been added since the publication of this article.
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Conclusion:
Understanding the BSR code of Union Bank of India is essential for seamless and accurate banking transactions. The BSR code provides valuable information about the bank and its branches, facilitating efficient statistical reporting. This article has provided an overview of the BSR code structure for Union Bank of India and shared lists of BSR codes for various cities. It is always advisable to verify the BSR code with official sources or the bank itself to ensure accuracy and avoid any discrepancies during banking operations.
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FAQs
What is a BSR code?
A BSR code, also known as a Basic Statistical Return code, is a unique identification code assigned to each branch of a bank in India. It is used for reporting statistical data to regulatory authorities like the Reserve Bank of India (RBI).
How many digits are there in Union Bank of India’s BSR code?
Union Bank of India’s BSR code consists of seven digits.
What does each digit of the BSR code represent?
The first three digits represent the bank code assigned by the RBI, the next three digits represent the branch code assigned by the bank, and the last digit is a control digit calculated using a formula.
Where can I find the BSR code of a specific Union Bank of India branch?
You can find the BSR code of a specific Union Bank of India branch by referring to official sources such as the bank’s website, contacting the branch directly, or referring to RBI’s BSR code directory.
Why is the BSR code important?
The BSR code is important because it helps in accurate reporting of statistical data to regulatory authorities. It also ensures smooth and error-free banking transactions by uniquely identifying each branch of the bank.
Can the BSR code of a branch change?
Yes, BSR codes can change for branches due to various reasons such as branch relocation, mergers, or closures. It is advisable to verify the BSR code with official sources or the bank itself before conducting any transactions.
Are BSR codes specific to Union Bank of India or applicable to all banks in India?
BSR codes are applicable to all banks in India. Each bank has its unique BSR codes assigned to its branches for statistical reporting purposes.
Can I use the BSR code for online transactions?
No, the BSR code is primarily used for statistical reporting and not for online transactions. For online transactions, you would typically need other codes such as IFSC (Indian Financial System Code) or SWIFT code.
Is the BSR code the same as the branch’s IFSC code?
No, the BSR code and IFSC code are different. The BSR code is used for statistical reporting, while the IFSC code (Indian Financial System Code) is used for identifying individual bank branches for electronic funds transfer within India.
Can I find the BSR code of Union Bank of India branches in the bank’s official publications?
Yes, Union Bank of India may provide a list of BSR codes for its branches in their official publications, such as annual reports or other regulatory disclosures. You can also refer to the RBI’s BSR code directory for the most up-to-date information.