The full form of SWIFT is "Society for Worldwide Interbank Financial Telecommunication". Swift code provides a solid network worldwide to send and receive information in a secure, standardized and reliable environment. Bank SWIFT Code
"SWIFT does not facilitate funds transfer: rather, it sends payment orders, which must be settled by correspondent accounts that the institutions have with each other. Each financial institution, to exchange banking transactions, must have a banking relationship by either being a bank or affiliating itself with one (or more) so as to enjoy those particular business features" as mention here.
Business Identifier Codes (BICs, previously Bank Identifier Codes) are popularly known as 'SWIFT Codes'". The "SWIFT" is the registered trademarks of S.W.I.F.T. SCRL with its registered office being at 'Avenue Adele 1, B-1310 La Hulpe, Belgium'.
The Swift code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office.
The code formatted as below;
UUUU IN 3M XXX
There are more then 40,000 "live" SWIFT codes are bavailable. The "live" codes are for the partners who are actively connected to the Swift network. On top of that, there are more than 50,000 additional codes, which are used for manual transactions. These additional codes are for the passive participants.
The easiest way to Find SWIFT Code for Banks in India is to select your bank name, select the city and finally select the branch of your bank to find bank SWIFT Code.
2021 January 26 is a bank holiday in Andaman And Nicobar Island due to Republic Day.
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2021 February 11 is a bank holiday in Andaman And Nicobar Island due to Maha Shivratri.
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