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Oriental Bank of Commerce IFSC Code: MICR Code & Address in India

Oriental Bank of Commerce (OBC) is one of the most popular public sector banks in India. It has its headquarters in Gurgaon, Haryana. As of March 2019, the bank has 2390 branches and more than 2600 ATMs across the country.

IFSC is the short form for Indian Financial System Code. It is a unique alpha-numeric code consisting of eleven digits that helps to identify a bank branch during fund transfer. A person can transfer money via National Electronic Fund Transfer (NEFT) mode, Real-Time Gross Settlement (RTGS) mode and Immediate Payment Service (IMPS) mode if he knows the IFSC Code of the receiver’s bank.

The Reserve Bank of India (RBI) assigns IFSC Code to every bank in the country. The Oriental Bank IFSC Code begins with the bank code, which is denoted by the letters ORBC. This code is common in the IFSC Code for all the branches of the Oriental Bank of Commerce. The last six digits of the code consist of numbers that indicate the branch code. This branch code in the Oriental Bank IFSC Code is different for every branch.

About Oriental Bank of Commerce

Oriental Bank of Commerce is a nationalized bank that has been providing banking services to its customers for more than 40 years. It has its corporate office in Gurgaon, Haryana. The bank extends its services to rural and agri-banking. It was awarded the title of ‘The Best Performing Bank under the Atal Pension Yojana’ by the PFRDA or Pension Fund Regulatory and Development Authority in 2018-19.

How to Search Oriental Bank IFSC Code & MICR Code Online?

It is extremely easy to find the Oriental Bank IFSC Code and MICR Code online. The MICR Code or the Magnetic Ink Character Recognition Code is a nine-digit code that enables transferring funds to another bank branch at the time of the Electronic Clearing System (ECS). The Oriental Bank IFSC Code and MICR Code can be found on the official website of the bank. You can also search for it on the official website of the Reserve Bank of India (RBI) by entering the full name of the bank and the branch.

How to Search Oriental Bank of Commerce IFSC Code & MICR Code Offline?

The Oriental Bank IFSC Code and MICR Code can be found offline on the cheque book and the passbook given by the bank. While the Oriental Bank IFSC Code is mentioned on the top of the cheque leaf, the MICR Code is mentioned at its bottom.

Oriental Bank of Commerce IFSC Code

Information Needed to Transfer Funds through Any Mode of Payment

If you want to transfer funds from your Oriental Bank of Commerce account via any of the payment methods, you will have to provide the following information:

Beneficiary’s Name
Name of Beneficiary’s Bank
Account Number of the Beneficiary
IFSC Code of the Beneficiary’s Bank
Amount to be transferred

How to Transfer Money through Oriental Bank of Commerce NEFT and RTGS Processes?

National Electronic Funds Transfer (NEFT)

NEFT is an online fund transfer method that enables sending money from one bank account to another. It was introduced by the Reserve Bank of India (RBI) to ensure a smooth transfer of funds between different bank branches within the same bank or between two different banks. The participating banks should be NEFT enabled in order to transfer funds via mobile banking, internet banking or by visiting the bank branch.

All core banking branches of Oriental Bank of Commerce provides NEFT services to its customers throughout the country. If you want to send money to a person with an account in the Oriental Bank of Commerce, you need to be aware of the Oriental Bank IFSC Code of the beneficiary’s branch. All NEFT transactions are settled by the Bank in six batches and thus, the amount is credited either on the same day or by next working day.

Transactions by NEFT do not have an upper or lower amount limit. However, it is the perfect mode for transferring funds that do not exceed INR 1 lakh.

Real-Time Gross Settlement (RTGS)

RTGS is another mode of payment that transfers funds in real-time between two branches of the same bank or two different banks. It is a relatively quicker mode of fund transfer as the transfer requests are settled continuously on per order basis. As per the guidelines of the Reserve Bank of India, it is compulsory for the beneficiary bank to reflect the transferred funds in the recipient’s account within 30 minutes.

RTGS fund transfer mode is available at all core banking branches of the Oriental Bank of Commerce. The facility can be used via internet banking, mobile banking as well as by visiting the bank branch. The sender has to furnish the Oriental Bank IFSC Code for the beneficiary’s branch to be able to transfer funds.

The minimum transaction amount in order to transfer money via RTGS is INR 2 lakh. However, there is no upper transaction amount limit.

Immediate Payment Service (IMPS)

IMPS is an instant mode of transferring funds that allows a bank account holder to send money to another account holder at any point of time. This service can be used only through mobile phones and therefore, is available 24x7. This service can also be availed on national holidays and public holidays.

The customers of the Oriental Bank of Commerce can avail IMPS service through their mobile phones. The funds can be transferred by furnishing the beneficiary’s mobile or account number along with the IFSC Code or MMID Code. In order to transfer funds to an OBC bank account, you need to be aware of the Oriental Bank IFSC Code of the beneficiary’s branch.

Transaction limit for transferring funds through NEFT, RTGS or IMPS within Oriental Bank of Commerce is as follows:

Service	Single Transaction Limit (INR)	Daily Transaction Limit (INR)
NEFT	25,00,000	25,00,000
RTGS	25,00,000	25,00,000
IMPS	50,000	1,00,000

Oriental Bank of Commerce NEFT Fees and Charges

NEFT Timings

Between 9:00 am to 7:00 pm
From Mondays to Saturday (except second and fourth Saturday)

RTGS Requisition Timings

Between 8.00 am to 4.15 pm
From Mondays to Saturdays (except second and fourth Saturday)

RTGS Timings for Processing at RBI

From 8.00 am to 6:00 pm
From Mondays to Saturdays (except second and fourth Saturday)

Charges for NEFT/ RTGS/ IMPS Excluding GST are:

In case you make an inward transfer of funds through NEFT or RTGS, you would not have to pay any charges. Inward fund transfer within the Oriental Bank of Commerce bank accounts is free of cost. However, if you transfer your funds via NEFT or RTGS by depositing a cheque at an OBC Bank branch, you will have to pay the following charges:

Service	Transaction Limit (INR)	Charges (INR)
Service	Transaction Limit (INR)	Via Cheque	Internet Banking
NEFT (outward)	2,001 to 10,000	Zero	Zero
	10,001 to 1,00,000	Zero	1
	1,00,001 to 2,00,000	10	2
	More than 2,00,000	25	4
RTGS (outward)	1,00,000 to 2,00,000	Up to 25	Zero
	2,00,000 to 5,00,000	Up to 25	Upto 24
	More than 5,00,000	Up to 50	Upto 49
IMPS (outward)	Upto 1,000	Zero
	1,001 to 1,00,000	5
	1,00,001 to 2,00,000	10

Oriental Bank of Commerce - FAQs

Q.1 Is RTGS facility available against cash payments?

No. The RTGS mode of fund transfer cannot be used if you make cash payments. You can transfer funds via RTGS only through mobile banking, internet banking and by visiting a bank branch. Transferred funds can be received by an account holder of the OBC bank by using the Oriental Bank IFSC Code of the recipient’s branch.

Q.2 Is mobile banking service by Oriental Bank of Commerce chargeable?

No. The Oriental Bank of Commerce does not charge any fee for using mobile banking services.

Q.3 What are the various IMPS services that can be accessed through mobile banking of the Oriental Bank of Commerce?

The mobile banking facility by the Oriental Bank of Commerce allows its customers to access the following IMPS service:

Transferring funds from one bank account to another
Generating MMID or Mobile Money Identifier
Generating MMID pin

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