What is INB in bank transaction?
In banking terminology, "INB" typically stands for "Internet Banking." When seen on a bank statement alongside "TXN" (which stands for transaction), an "INB TXN" indicates that the specific financial movement was initiated or executed through the bank’s online portal or mobile banking application rather than at a physical branch or through a point-of-sale terminal. This code is commonly used by large institutions, such as the State Bank of India, to provide customers with a clear audit trail and to distinguish digital transfers from other types of account activities, such as ATM withdrawals, cheque clearings, or in-branch counter transactions.
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