IFSC stands Indian Financial System Code. IFSC is an alpha numeric code which uniquely
identify bank branch in india. IFSC is code used for various payment system within
the country. IFS Code is 11 digit code for a bank branch.
- First 4 characters represents bank code.
For Example: One of the IFSC code for ICICI Bank is ICIC0001206. First 4 characters
ICIC0001206 represents bank code.
- The 5th character is a '0' Zero and it's reserved as control character (ICIC0001206)
- Remaining last 6 characters used to indentiy the bank branch. (ICIC0001206)
Click here to find Bank IFSC Code
MICR stands for Magnetic Ink Character Recognition. MICR Code is a
numeric code which uniquely identifies a bank branch participating in the ECS Credit
scheme. MICR code consists of 9 digits e.g 400229128
- First 3 digits represent the city (400229128 )
- Next 3 digits represent the bank (400229128 )
- Last 3 digits represent the branch (400229128)
The MICR Code allotted to a bank branch is printed on the MICR band of cheque leaves
issued by bank branches. in the country.
Click here to find bank MICR Code and IFSC Code
What is RTGS?
RTGS Stands for Real Time Gross Settlement (RTGS), a payment system application
What is NEFT?
NEFT stands for National Electronic Funds Transfer.