Hello friends, in this website of ours you will find IFSC code, MICR code, and SWIFT code of more than 139+ Indian banks as well as the contact number and address of that branch as well as what facilities are available in that bank like Told about whether UPI RTGS NEFT IMPS etc facility is available or not.
What is IFSC Code?
Full name or abbreviation of IFSC , Indian Financial System Code. It is a unique code in which the first four characters represent the name of the bank and the fifth character is usually 0.
The last 6 digits represent the branch code. Overall, if I tell you, it is an identification number of any branch. So that money can be exchanged smoothly. Like distance from which branch, money has been sent to the account of which branch. It is used for its identification. And it has a huge contribution in this transaction.
If this IFSC code is not there, then many problems will have to be faced in transferring money. That is why the system of IFSC code was created. Because of this, doing thousands of transactions becomes very easy and simple.
What is MICR Code?
MICR which stands for Magnetic Ink Character Recognition, the primary function of MICR code is to authenticate the validity and reliability of a paper based document in the banking database. And this is a 9-digit code. Which identifies those bank branches. It is printed at the bottom of the cheque. who are participating in the (Electronic Clearing System). MICR is used to speed up the processing of cheques.