Bank Code Verified





Branch: BANCH NO.1

Postcode: 700017

Country: IndiaSwift codes are an essential component of the global banking system, facilitating secure and efficient international transactions.

This article will delve into the purpose and importance of Swift codes, shedding light on their role in connecting financial institutions across the globe. By the end of this article, you will have a comprehensive understanding of how Swift codes work and why they are crucial in the world of international banking.

Topic 1: Anto Swift Codes

What are Swift codes? – Swift codes, also known as Bank Identifier Codes (BIC), are a unique combination of letters and numbers.

– These codes serve as an international standard for identifying specific banks or financial institutions. – Every bank that participates in the SWIFT network is assigned a unique Swift code.

The purpose of Swift codes:

– The primary purpose of Swift codes is to ensure the accuracy and efficiency of international financial transactions. – By using a standardized code, banks can easily identify the recipient’s bank and route the payment correctly.

– Swift codes also enable banks to communicate securely and reliably, reducing the risk of errors and fraud. How are Swift codes structured?

– Swift codes are composed of 8 or 11 characters. – The first four characters represent the bank’s code and provide information about the bank and its country.

– The next two characters indicate the location of the bank’s branch or headquarters. – The last three characters, known as the branch code, are optional and provide more specific information about the bank’s branch.

Topic 2: The Role of Swift Codes in International Banking

Facilitating secure and efficient international transactions:

– Swift codes play a crucial role in ensuring that international transactions are conducted smoothly and securely. – When sending money internationally, the sender’s bank needs to know the recipient’s Swift code to designate the correct bank.

– The Swift code acts as a virtual address, enabling the sending bank to route the payment accurately. Connecting financial institutions across the globe:

– With the help of Swift codes, banks can create connections with other financial institutions across the globe.

– These connections allow banks to exchange financial messages securely, providing a platform for global banking operations. – Financial institutions can rely on the Swift network to share information, process transactions, and perform regulatory reporting.

The significance of the given Swift code (KARBINBBCAL):

– The Swift code “KARBINBBCAL” belongs to Karnataka Bank Ltd., a renowned bank in India. – This code identifies Karnataka Bank Ltd.

as the recipient’s bank in any international transaction or communication. – It signifies the bank’s presence in Kolkata, specifically in the Banch No.1 branch located at Park Street, Sarojini, Naidu Sarani.

Benefits of using Swift codes:

– Ensures accuracy: Swift codes eliminate confusion and human errors by providing a standardized means of identifying banks. – Enhances security: The Swift network is highly secure, featuring robust encryption to protect financial messages from unauthorized access.

– Enables quick transactions: With Swift codes, international transactions can be processed efficiently, minimizing delays and ensuring prompt settlements. – Facilitates regulatory compliance: Swift codes streamline regulatory reporting by providing a standardized format for data exchange between banks and regulatory authorities.


In today’s interconnected world, Swift codes play a vital role in international banking. They enable secure and efficient transactions while fostering global connections between financial institutions.

By understanding the purpose and importance of Swift codes, individuals and businesses can navigate the international banking landscape with confidence and ease. So the next time you engage in an international transaction, remember the significance of Swift codes in ensuring a seamless financial experience.

Topic 3: Unveiling KARNATAKA BANK LTD. Karnataka Bank Ltd.

is a prominent bank in India with a rich history and a strong presence in the banking sector. Established in 1924, the bank has grown steadily over the years and currently operates through a wide network of branches across the country.

History and Background:

– Founded in Mangalore, Karnataka Bank Ltd. initially aimed to cater to the credit needs of the local farmers and agriculturists.

– Over time, the bank expanded its operations and diversified its services, providing a comprehensive range of banking solutions to various sectors of the economy. – Karnataka Bank Ltd.

has achieved remarkable success, garnering a strong customer base and earning a reputation for its customer-centric approach. Vision and Values:

– The bank’s vision is to be a leading, technologically advanced bank known for its excellent customer service and ethical practices.

– Karnataka Bank Ltd. stands by its core values of transparency, integrity, professionalism, and customer satisfaction.

Services and Offerings:

– Karnataka Bank Ltd. offers a wide spectrum of banking services to meet the diverse needs of its customers.

– These services include savings accounts, current accounts, fixed deposits, loans, insurance, wealth management, and NRI banking, among others. – The bank also provides innovative digital banking solutions, enabling customers to conveniently access and manage their accounts anytime, anywhere.

Commitment to Corporate Social Responsibility (CSR):

– Karnataka Bank Ltd. takes its social responsibilities seriously and actively participates in various CSR initiatives.

– The bank works towards the upliftment of the underprivileged and marginalized sections of society through its CSR programs, which focus on education, healthcare, and sustainable development. Topic 4: Common Uses of Swift Codes

International Fund Transfers:

– One of the most common uses of Swift codes is for international fund transfers.

– When transferring money to another country, individuals or businesses are required to provide the recipient’s Swift code to ensure that the funds reach the correct bank and branch. – The Swift code acts as a unique identifier, facilitating the smooth and accurate transfer of funds across borders.

Interbank Communication and Collaboration:

– Swift codes play a crucial role in interbank communication and collaboration. – Banks use Swift codes to exchange financial messages securely and efficiently, enabling them to communicate with other financial institutions across the globe.

– For example, when one bank needs to verify the recipient’s account details with another bank for a transaction, Swift codes are used as a means of identification and authentication. Foreign Currency Exchange:

– Swift codes are also utilized in foreign currency exchange transactions.

– When converting one currency into another, banks rely on Swift codes to identify the relevant banks involved in the exchange process. – Swift codes help ensure that the funds are routed correctly and that the conversion is completed accurately.

Verification of Bank Details:

– Swift codes are often used to verify the bank details of a recipient before initiating any financial transaction. – By providing the Swift code along with the recipient’s bank account number, individuals or businesses can confirm the authenticity of the bank and avoid potential errors or fraud.

Enhanced Security and Fraud Prevention:

– The use of Swift codes enhances security and minimizes the risk of fraud in international banking transactions. – As Swift codes are unique to each bank, they provide an additional layer of authentication and verification.

– Banks can ensure that the transaction is being processed with the intended recipient by cross-referencing the Swift code provided. In conclusion, Swift codes are a crucial aspect of modern international banking.

They serve as a standardized means of identification, enhancing the accuracy and efficiency of financial transactions between banks across borders. Karnataka Bank Ltd., with its Swift code “KARBINBBCAL,” stands as a testament to the importance of Swift codes in connecting financial institutions globally.

Whether it is for international fund transfers, interbank communication, foreign currency exchange, or verification purposes, Swift codes play an indispensable role in facilitating secure and seamless transactions.

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