What is an IFSC code?

IFSC stands for Indian Financial System Code. Its a unique eleven-digit number with alphabets and numerals in it. IFSC code is used to transfer funds online for NEFT, IMPS and RTGS transactions. IFSC code can be found on the accountholder’s passbook and cheque-book provided by the bank. The Reserve Bank of India assignes IFSC code to each bank branch. Internet banking transactions for transferring funds, using NEFT, IMPS and RTGS, can’t be initiated without a valid Indian Financial System Code.

How to find IFSC Code?

  • IFSC code can be found on the bank passbook and cheque that was given by the respective bank.
  • Banks and respective branch list of IFSC codes can be obtained from Reserve Bank of India’s website.
  • Every bank official website also contains IFSC CODE of all its branches.

Benefits of IFSC Code

  • It help to identify the branch of that respective bank from where amount is to be credit or debited while doing transaction.
  • Eliminates errors in the process of fund transfer
  • IFSC code helps in doing transaction such as NEFT, RTGS and IMPS are accurate.

Format of IFSC Code

IFSC Code is 11 digit code where first 4 digit are alphabets , 5th digit is always ZERO and ast 5 digit represents branch code. Example :- IFSC CODE of Dena Bank Kalkaji Branch Delhi is BKDN0711453

Bank Name ZERO Branch Code
B K D N 0 7 1 1 4 5 3

What is a MICR code?

MICR code stands for Magnetic Ink Character Reader and this code is printed on cheques. This enables identification of the cheques and which in turns means faster processing. MICR code is a 9-digit code that is uniquely identified by the bank and branch participating in an Electronic Clearing System.

The first 3 letters of MICR code represents the city code which is aligned with the PIN Code used for Postal address in India. The next 3 letters represents the bank code and the last 3 digital represents branch code

Explore Bank IFSC Codes/ MICr Codes

BankIFSCcodelist.in provides IFSC / MICR Code Details For All 252 Computerised Banks and their 163677 Branches Listed.

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