WHAT IS BSR CODE?

BSR Code is short form for BASIC STATISTICAL RETURNS. It constitutes of a 7 digit code primarily used for filling TDS/TCS returns. BSR code help banks to keep record of every online payment done towards tax. BSR Codes is usually prominant in TDS certificates, in OLTAS challan & deduct details, in Challan Identification Number (CIN) which is unique for each challan. BSR code is very helpful for a Govt. Of India pensioner to get their pension, the Bank A/C No. along with the bank BSR code is used by the pensioners to get their pension.
It is a 7 digit that is used by the RBI to identify the branches of banks in India. Banks are required to file their returns with the RBI through BSR codes, which are used to track the flow of funds and other financial transactions.