Structure of BIC
A bank identification code is arranged as follows:
‘CBININBBCFD’
- ‘CBIN’ or the first 4 characters represent the bank. The first four characters are used globally to identify a particular bank.
- ‘IN’ : The 5th and 6th characters represent the country in which that particular bank is situated. “IN” stated in the above example would certainly mean India.
- ‘BB’ : It is the Location code.
- ‘CFD’ : CFD is denoting a branch code.