IFSC Code of Saraswat Cooperative Bank Limited, I. C. Colony, Borivali Branch, Maharashtra

Use this page as a one-stop reference for everything related to Saraswat Cooperative Bank Limited's I. C. COLONY, BORIVALI branch in MUMBAI, MAHARASHTRA. The branch's IFSC code SRCB0000247 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.

For Saraswat Cooperative Bank Limited's I. C. COLONY, BORIVALI branch, the IFSC SRCB0000247 breaks down as follows: SRCB identifies the bank, 0 is the reserved character, and 000247 identifies this particular branch.

About Saraswat Cooperative Bank Limited

Saraswat Cooperative Bank Limited operates a wide network of branches across India, including the I. C. Colony, Borivali branch in Mumbai. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, SRCB0000247.

I. C. Colony, Borivali branch overview

Located at RUBY CO-OPERATIVE HSG. SOC. LTD., HOLY CROSS ROAD, I. C. COLONY, BORIVALI (WEST), MUMBAI 400 103, the I. C. Colony, Borivali branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC SRCB0000247 is required for all interbank electronic transfers routed through this branch.

Branch details at a glance

Why every Saraswat Cooperative Bank Limited branch has a unique IFSC

Before electronic settlement systems went live in India, money transfers between banks relied heavily on demand drafts, mail transfers and telegraphic transfers. These older instruments routinely took days to clear and were prone to misrouting because there was no single machine-readable identifier for a branch. The Reserve Bank of India solved this by issuing each participating branch — including I. C. COLONY, BORIVALI of Saraswat Cooperative Bank Limited — its own 11-character IFSC. The code SRCB0000247 is therefore not just an internal reference; it is the digital postcode that lets the RBI's NEFT, RTGS and IMPS rails route funds straight to the right branch ledger without any human intervention.

Today, almost every salary credit, vendor payment, refund and EMI deduction in the country flows through this network, which is exactly why a correct IFSC matters so much. A wrong character can either bounce the transfer or send it to the wrong branch, and reversing such a credit is a manual, time-consuming process. Treat IFSC SRCB0000247 the same way you would treat your account number — verify it once and save it carefully for future use.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Saraswat Cooperative Bank Limited carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC SRCB0000247 and the account number together uniquely identify the I. C. Colony, Borivali branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC SRCB0000247

Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC SRCB0000247 across all three.

How to use IFSC SRCB0000247 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Saraswat Cooperative Bank Limited's I. C. COLONY, BORIVALI branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC SRCB0000247.
4. Confirm the bank name auto-populates as Saraswat Cooperative Bank Limited and the branch as I. C. COLONY, BORIVALI.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC SRCB0000247

RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to Saraswat Cooperative Bank Limited – I. C. COLONY, BORIVALI, ensure your bank's portal accepts IFSC SRCB0000247 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to Saraswat Cooperative Bank Limited – I. C. COLONY, BORIVALI, use IMPS. With IFSC SRCB0000247 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

Comparing NEFT, RTGS and IMPS for transfers to I. C. Colony, Borivali

The right transfer rail depends on how urgent the payment is, how large it is, and whether the receiving bank participates in the chosen scheme. Every option below works with the IFSC SRCB0000247:

• NEFT — best for everyday transfers of any amount; settles in half-hourly batches around the clock.
• RTGS — best for transfers of ₹2 lakh and above; settles each transaction individually in real time.
• IMPS — best when speed matters more than batch scheduling; instant credit up to ₹5 lakh.
• UPI — best for small peer-to-peer payments using a VPA; the underlying account at I. C. COLONY, BORIVALI is still linked to IFSC SRCB0000247.

For salary credits, vendor payouts and refunds, employers and merchants usually default to NEFT because of its zero per-transaction cost for retail customers and its 24x7 availability.

UPI payments and IFSC SRCB0000247

UPI (Unified Payments Interface) has become the default way for individuals to send money in India. While most UPI transactions are addressed using a Virtual Payment Address (VPA) like name@bank, the underlying account at Saraswat Cooperative Bank Limited – I. C. COLONY, BORIVALI is still mapped to IFSC SRCB0000247. When a customer links a savings or current account to a UPI app for the first time, the app silently looks up this IFSC against the account number to verify the account exists. The VPA acts as a friendly alias on top of the same plumbing.

If a UPI transfer to or from this branch fails, the most common reasons are an inactive UPI handle, a daily limit breach or a temporary outage at one of the participating banks — not the IFSC. You can always fall back to NEFT or IMPS using the IFSC SRCB0000247 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the I. C. Colony, Borivali branch is mapped to IFSC SRCB0000247 on the RBI payments network. The branch generally supports the full retail product catalogue of Saraswat Cooperative Bank Limited, including:

• Resident savings accounts and salary accounts
• Current accounts for businesses and professionals
• Fixed deposits, recurring deposits and tax-saver deposits
• Demand drafts, banker's cheques and pay orders
• Retail loans — personal, vehicle, education, gold and home
• Credit cards and overdraft facilities (subject to eligibility)
• Third-party investment products such as mutual funds and insurance (through tie-ups)

Whichever product you choose, the IFSC for incoming credits remains SRCB0000247.

Banking services available

The I. C. Colony, Borivali branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 22-28920699.

• Savings, current and salary accounts
• Fixed deposits and recurring deposits
• Personal, vehicle and home loans
• Demat and investment products (where supported)
• Internet banking and mobile banking enrolment
• Debit and credit card issuance
• Locker facilities (subject to availability)
• Foreign exchange services (at authorised branches)
• Bill payments, demand drafts and pay orders
• NEFT / RTGS / IMPS / UPI fund transfers using IFSC SRCB0000247

Online banking and IFSC SRCB0000247

Saraswat Cooperative Bank Limited customers can register for net banking and the bank's official mobile app once their account at the I. C. COLONY, BORIVALI branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC SRCB0000247 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.

How to reach the I. C. Colony, Borivali branch

The branch is located at RUBY CO-OPERATIVE HSG. SOC. LTD., HOLY CROSS ROAD, I. C. COLONY, BORIVALI (WEST), MUMBAI 400 103, which puts it inside Mumbai, the broader Greater Bombay district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “Saraswat Cooperative Bank Limited I. C. Colony, Borivali branch” — the verified location pin for IFSC SRCB0000247 should appear at the top of the results.
2. Confirm the branch is open by calling 22-28920699 before stepping out, especially around public holidays.
3. Carry photo ID and any account-related documents you may need for the transaction you plan to do.

Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC SRCB0000247 and your account number.

Common mistakes to avoid when using IFSC SRCB0000247

An incorrect IFSC almost always results in a failed transfer or, worse, a credit to the wrong branch. Before you click Confirm on a transfer to Saraswat Cooperative Bank Limited – I. C. COLONY, BORIVALI, double-check for these issues:

• Confusing 0 with O. The fifth character of every IFSC is the digit 0, not the letter O. Read carefully.
• Spaces or hyphens. Do not put spaces in the IFSC. It is exactly 11 characters: SRCB0000247.
• Wrong branch. A bank can have dozens of branches in the same city. Make sure you are using the IFSC for the actual branch where the beneficiary holds the account, not just any nearby branch.
• Old IFSC after a merger. If two banks have merged, the IFSC may have been reissued. Always verify with a recent passbook or cheque leaf.
• Copy-paste from chat. Auto-correct on phones can silently change letters in IFSC codes. Type carefully or copy from a trusted source like the cheque book.

Working hours

Branch counters at I. C. Colony, Borivali are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to SRCB0000247 continue to work without interruption.

Verifying IFSC SRCB0000247 from official sources

The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm SRCB0000247 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 22-28920699.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Final notes

To recap: SRCB0000247 is the IFSC code of Saraswat Cooperative Bank Limited, I. C. COLONY, BORIVALI branch, in MUMBAI, MAHARASHTRA. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.