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IFSC and MICR Codes List

The list includes IFSC codes, MICR code and addresses of all banks with branches in India. Find authentic IFSC codes quickly and use them to make NEFT, RTGS & IMPS transactions.

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What is IFSC Code?

It is the Indian Financial System Code (IFSC) is a unique alphanumeric 11-digit code used to perform the online transfer of funds through NEFT, RTGS, and IMPS. It is possible to find the IFSC codes on the check leaf which is issued to the banks. It is the Reserve Bank of India (RBI) gives its IFSC codes to banks. Alongside your cheque's leaf, you will also locate your IFSC codes on the website of the bank as well as the RBI.

IFSC Code : Some Key Features

• It helps identify the location of a particular branch of a bank branch.
• It helps identify and eliminate mistakes in the transfer of funds process.
• It is used to pay for all electronic options like NEFT, RTGS and IMPS

What is the difference between IFSC Code of Bank and IFSC Code of Credit Card?

For the bank's IFSC code, this differs from branch to. However, it is the same for credit cards. IFSC codes for any specific bank will be identical across the country.

The credit card IFSC code of some of the banks is listed in the following table:

Full form of MICR Code: Magnetic Ink Character Recognition Code

Magnetic Ink Character Recognition (MICR) is a nine-digit code that aids in identifying a particular branch of a bank that makes up the Electronic Clearing System (ECS) that is used to make sure that cheques are cleared on a regular basis. The code is located on the leaf of the cheque which is provided by the institution. It is typically found on the passport handed out to the account holder.

Of the nine numbers, the first three digits indicate the city of the particular, while the next three digits are the bank's specific code, and the last three numbers indicate the branch code of the bank. For instance, it is the MICR code of the SBI branch at Kolkata is 700002021. The first three digits '700' are utilized to determine the particular city, while the following three digits '002' indicate the specific bank code, and the final 3 numbers '021' define the branch's code. It is the MICR code is used principally to clear and process cheques, which are handled using machines. The 9-digit code can help eliminate errors during the clearing process as well as speed up the process and make cheque processing more secure and secure.

What is Bank IFSC Code Format:

What is MICR Code?

Magnetic Ink Character Recognition (MICR) is a 9-digit number that allows you to identify a specific branch of a bank which belongs to the Electronic Clearing System (ECS). This code can be located on the check leaf from the banks. It typically found on the passport handed out to the account the holder.
The primary function behind this MICR code is the ensure that cheques are placed in machines. This code assists in avoiding mistakes, too.

MICR Code Format

The initial three numbers in the code are the city. The next three numbers represent the bank's code, and the last three numbers represent the branch code of the bank. For instance for the branch in Kolkata, for the branch in Kolkata, the MICR code of the SBI branch located in Kolkata is 700002021. In this case, '700' is the town, "002" is the bank while '021' refers to the branch.

IFSC Code: How Does it Work

Let's look at an example of Canara Bank IFSC code to help you comprehend what IFSC code means and how it functions in bank transactions. The IFSC code of the Chandigarh Branch of Canara Bank is CNRB00001995.

• In this case, CNBR represents the name of the bank that is Canara Bank  
• The 5th character (0, for example) will be used in the future.  
• The remaining 6 characters 01995 specifically assist the RBI to determine a bank branch without error.  

Now, let's look at the way IFSC functions. When a transfer request is made to a specific recipient, the payer must give the account number as well as the branch's specific IFSC code. After the remitter has provided this information, the funds are transferred directly to the account owner. IFSC assists in avoiding any errors during these transactions.

In addition to the transfer of funds, the IFSC code can also be used to buy mutual and insurance funds using net banking. It is the responsibility of the Reserve Bank of India's (RBI) National Clearing Cell to supervise all transactions. The IFSC code can help the RBI monitor transactions, and also make funds transfers with no errors.

This IFSC code can be found on your checkbook or your bank passbook. It is also possible to find the branch's bank IFSC code on the monthly statement of their account. It is important to note that the IFSC number for every branch and bank is unique to each branch and bank.

Locate IFSC and MICR Code on a Bank Cheque

The majority of these discussion has been focused on the typical bank cheque. This fundamental element of the banking industry is a fusion of several elements that allow us to verify whether the document is authentic and permit us to place the fullest trust in its validity.

The principal elements of a typical bank check are in the following manner:

Find IFSC Code in a Bank Cheque:

In a typical bank check, it is mandatory to include the IFSC number to be mentioned. The IFSC code will differ between banks. In our illustration, we will show the position of the IFSC code on an HDFC Cheque.

Locating Cheque Number:

The font is typed at the bottom of the cheque, in a particular font style. This is mostly used to keep track of the cheque, and to serve other purposes of administration

The Basic Differences of IFSC & MICR Code

The following table are the differences in those codes. IFSC Code and the MICR Code:

How to Register the Beneficiary's Account?

• To sign up the beneficiary, certain details like the name of the beneficiary as well as the bank account numbers, IFSC codes of the bank of which the beneficiary is a beneficiary, as well as the address for the Bank branch, must be given.
• After you have submitted your information when you have submitted your information, the registration process is complete. Different banks have different times when you are able to start an initial transfer. In HDFC Bank's situation, it takes 12 days for the information to be checked out and become activated.

How to Transfer Money with the Help of Net Banking & Mobile Banking?

Electronic transfer of money by using an IFSC code is a straightforward procedure once the person has created it. The procedure to transfer funds via internet banking or mobile banking is listed in the following sections:

Through Net-banking:

The procedure for transferring funds through net banking is described below:

• Go to this bank's official web site.
• Go to the online banking portal.
• Login using the help of your user name and password.
• Then, select the option 'Transfer funds via NEFT to transfer the funds to the account of the beneficiary. If the beneficiary hasn't been added, the person must add them to the list to be able to make future transactions. In order to accomplish this you need to supply the IFSC code the bank account number and branch of the bank need to be supplied. After the information has been received, it could take anything from 5 up to twelve hours based on the bank's policies in order for your beneficiary's account to become active. After waiting the required period of time, funds will be transferred immediately to the beneficiary's account using a the buffer of just an hour.

Through Mobile Banking:

Here's how you can be transferred from one account to another with the IFSC code using mobile banking.

• The first thing an individual must do is sign up for a 10-digit mobile number to be able to access mobile banking. This is done by linking with the account of their choice. In order to register, the person must fill out the form, and then the starter's kit is given which contains MMID (a unique number with 7 digits) and the mPin. The kit is identical to what is provided with the debit card.
• Once the registration is completed the process of sending money via SMS is very simple. The first step is to select  IMPS. The next step is to give the account number of the beneficiary, the IFSC code, and the amount he/she wishes to transfer. After the transaction is confirmed it is then required to enter the mPin. Once this is done the funds are successfully moved from the account to be deposited into the beneficiary's account.

What is UPI (Unified Payments Interface)

It's basically a brand new payment structure that was developed by the Reserve Bank of India under the direction of former Governor Raghuram Rajan, with the help of technology guru Nandan Nilekani. In the simplest terms, UPI is being referred to as a new payment system that is anticipated to harness the capabilities of smartphones and the rising number of smartphone users across the country. It allows transactions between two bank accounts through the smartphone. Although the UPI method of payment permits payments offline and online channels, such as debit and credit swipes with cards, it's much more smooth and more sophisticated, at the same time.

FAQ's on IFSC and MICR codes

What is the full form of IFSC?
The full form of IFSC is Indian Financial System Code.

Why is IFSC used?
IFSC or Indian Financial System Code is a 11-digit alphanumeric code that is used to uniquely all bank branches within the National Electronic Funds Transfer (NEFT) network by the Reserve Bank of India.

How to search for bank name by IFSC code?
It is very easy to find the bank name using the IFSC code. The first four characters of the IFSC code represents the bank name. So, if the bank name is HDFC, then the IFSC code will look something like HDFC0004053.

What is the meaning of MICR code?
MICR stands for Magnetic Ink Character Recognition. It is a special ink that is sensitive to magnetic fields. It is printed on the bottom of a cheque.

Where can I find my bank account’s MICR code?
The MICR code is found next to the cheque number on the bottom of a cheque leaf. It's also printed on the first page of a savings account passbook at a bank.

Are IFSC code and MICR code the same?
No, IFSC and MICR codes are not the same. When sending money using NEFT or RTGS, the IFSC code is required. MICR code, on the other hand, is only utilised on check leaves.

Can I get my MICR code online?
No, you cannot get your MICR code online. It is usually present at the bottom of your cheque leaf or on the first page of your savings account.

What is the use of MICR code?
MICR is a technology that helps in verifying the originality of cheques or other paper documents. It is used mainly by banks to process cheques faster. The MICR code helps RBI in identifying the bank branch.

How can I transfer money from one bank account to another online?
You can transfer money from one bank account to another through online mode using methods like National Electronic Fund Transfer (NEFT), Real-time Gross Settlement (RTGS), Immediate Payment Service (IMPS), and Unified Payment Interface (UPI).

Are IFSC and SWIFT code same?
No, the IFSC and SWIFT codes are not the same. IFSC is used for transferring funds within India, while SWIFT code is used for transferring funds at an international level. Moreover, SWIFT is a bank identifier code while IFSC is used to identify a specific bank branch.

If a bank branch is changed, will the IFSC code change?
No, if the location of a bank's branch is changed, then the IFSC code will not change. If the bank account is shifted from one branch of the bank to another, only then will the IFSC code be changed.

Is IFSC code same as branch code?
No, IFSC code is not the same as branch code.

Where is the IFSC code located on the cheque leaf?
IFSC code is generally present on the top part of every cheque leaf or near the bank branch address.

Is IFSC code required for IMPS?
IFSC code is required for IMPS only if the individual is transferring money using bank account number. If the receiver's MMID is not available, then he/she needs to add the receiver as a payee, for which details such as bank account number, name, and IFSC are required.

Where can I locate MICR code on cheque?
MICR code is printed on the bottom part of every cheque leaf provided by banks.

Is IFSC code unique?
Yes, IFSC code is a unique alphanumeric code.

Is it possible to determine the IFSC code of a bank's branch from the savings bank account number hosted in the same bank?
No, it is not possible as the 15-digit long savings bank account number does not include the bank's IFSC code.

I think I have provided the wrong IFSC code when initiating a NEFT funds transfer. What will happen to my money?
You don’t have to worry if you have provided a wrong IFSC code while initiating a NEFT funds transfer. Your transaction will be automatically cancelled if the IFSC code given by you is wrong.

Can I access the IFSC code from my bank passbook?
Yes, you can access the IFSC code from the bank passbook. As per a directive from the Reserve Bank of India, banks must print the IFSC and MICR codes prominently on the passbooks, account statements and cheques issued by them.

What is 0 IFSC or IFS code

Full form of IFSC is The Indian Financial System Code. IFSC is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems

What is NEFT in banking

NEFT stands for National Electronic Funds Transfer (NEFT). NEFT in India is an electronic payment system developed by RBI to facilitate the transfer of funds by customers from one bank to another. It is a secure, economical, reliable, and efficient system of money transfer between banks.