IFSC Code of State Bank of India, Rakha Copper Project Branch, Jharkhand

Use this page as a one-stop reference for everything related to State Bank of India's RAKHA COPPER PROJECT branch in RAKHA, JHARKHAND. The branch's IFSC code SBIN0005423 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 State Bank of India's RAKHA COPPER PROJECT branch, the IFSC SBIN0005423 breaks down as follows: SBIN identifies the bank, 0 is the reserved character, and 005423 identifies this particular branch.

About State Bank of India

State Bank of India operates a wide network of branches across India, including the Rakha Copper Project branch in Rakha. 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, SBIN0005423.

Branch details at a glance

About the Rakha Copper Project branch

The Rakha Copper Project branch of State Bank of India is situated at DIST EAST SINGHBHUM, JHARKHAND, 832106. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code SBIN0005423 is used.

Why every State Bank of India 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 RAKHA COPPER PROJECT of State Bank of India — its own 11-character IFSC. The code SBIN0005423 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 SBIN0005423 the same way you would treat your account number — verify it once and save it carefully for future use.

Account types you can open at the Rakha Copper Project branch

Once you have an account at State Bank of India – RAKHA COPPER PROJECT, the IFSC SBIN0005423 stays the same regardless of the type of account you hold. The branch typically supports the following options:

• Savings account — for individuals, with chequebook, ATM card and net-banking access.
• Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
• Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
• NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
• Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
• Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
• Minor and student accounts — operated jointly with a guardian until the customer turns 18.

Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.

Products and services

Customers walking into the Rakha Copper Project branch can access most of State Bank of India's standard product suite, including:

• Account opening – savings, current, NRI, salary
• Term deposits and recurring deposits
• Retail and small-business loans
• Insurance and mutual-fund tie-ups
• Locker, safe deposit and ATM card services
• Online and mobile banking activation
• Electronic transfers via IFSC SBIN0005423

How to transfer money using IFSC SBIN0005423

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 SBIN0005423 across all three.

NEFT to State Bank of India, RAKHA COPPER PROJECT using IFSC SBIN0005423

National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.

To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC SBIN0005423, and confirm that the system picks up State Bank of India – RAKHA COPPER PROJECT. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC SBIN0005423

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 State Bank of India – RAKHA COPPER PROJECT, ensure your bank's portal accepts IFSC SBIN0005423 while registering the beneficiary. RTGS is also available 24x7.

IMPS to State Bank of India RAKHA COPPER PROJECT (IFSC SBIN0005423)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC SBIN0005423 in your mobile or internet banking app, and the money is credited to the RAKHA COPPER PROJECT branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Rakha Copper Project

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 SBIN0005423:

• 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 RAKHA COPPER PROJECT is still linked to IFSC SBIN0005423.

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 SBIN0005423

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 State Bank of India – RAKHA COPPER PROJECT is still mapped to IFSC SBIN0005423. 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 SBIN0005423 and the beneficiary's account number to complete the transfer.

Online banking and IFSC SBIN0005423

State Bank of India customers can register for net banking and the bank's official mobile app once their account at the RAKHA COPPER PROJECT 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 SBIN0005423 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.

MICR & cheque-truncation details

Cheques drawn on the Rakha Copper Project branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC SBIN0005423 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

Things to verify before sending money

Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to State Bank of India – RAKHA COPPER PROJECT:

• The IFSC is exactly SBIN0005423 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills State Bank of India as the bank name and RAKHA COPPER PROJECT as the branch.
• The amount and the purpose of payment are correct.
• You have a valid OTP-verifying mobile number on hand.

A 30-second review here saves hours of reconciliation later.

Reaching the branch

The Rakha Copper Project branch sits at DIST EAST SINGHBHUM, JHARKHAND, 832106. If you are travelling from outside Rakha, search for the branch on a maps application using the bank name and locality, or call the branch contact number to ask for landmarks. Many customers find it easier to skip the trip altogether: net banking, mobile apps, NEFT, RTGS, IMPS and UPI all work using the IFSC SBIN0005423 and your account number.

Verifying IFSC SBIN0005423 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 SBIN0005423 by:

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

Working hours

Branch counters at Rakha Copper Project 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 SBIN0005423 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code SBIN0005423 belongs to State Bank of India's RAKHA COPPER PROJECT branch, located at DIST EAST SINGHBHUM, JHARKHAND, 832106 in RAKHA, JHARKHAND. Use this code along with the beneficiary's account number for any NEFT, RTGS or IMPS transfer to this branch. Bookmark this page for quick reference whenever you need the branch's banking details.