IFSC stands for Indian Financial System Code. It is a 11-digit alpha-numeric code that uniquely identifies a bank branch participating in any RBI regulated funds transfer system. The IFSC code helps to transfer money using RTGS, NEFT or IMPS method. The first 4 digits of the IFSC represent the bank and last 6 characters represent the branch. The 5th character is zero.
MICR is an acronym for Magnetic Ink Character Recognition which is a technology used in the banking industry in printing the MICR codes. A MICR code is a 9-digit code that uniquely identifies a bank and a branch participating in an Electronic Clearing System (ECS). The first 3 digit of the code represents the city code, the middle ones represent the bank code and last 3 represents the branch code. One can locate the MICR code at the bottom of a cheque leaf, next to the cheque number. It is also normally printed on the first page of a bank savings account passbook
ifscodein.com is the easiest web tool to find IFSC code of any bank in India, with the help of this you can find the IFSC code of any bank, you just have to click on the bank whose IFSC code you are looking for and After that click on the state and district of that bank, after that the page which will come on that page will show all the branch code of that state. If you want, you can also use the drop down list given in this page.
National Electronic Funds Transfer (NEFT) is a nationwide system that facilitates individuals, firms and companies to electronically transfer funds from any bank branch to any individual, firm or company's account with any other bank branch in the country. gives. NEFT transfers are also referred as e-cheques as the funds are not transferred in real time and the funds are settled in batches. Read more details about NEFT.
'IMPS' is Immediate Payment Service and it is commonly known as Interbank Mobile Payment Service. IMPS uses IFSC codes to offer a number of fund transfer services instantly in a round the clock environment. National Payments Corporation of India (NPCI), which is an organization that regulates the retail payments in India, has provided this facility. Read more info on IMPS.