IFSC Code: Indian Financial System Code, MICR Code

IFSC Code, MICR Code in India for RTGS / NEFT


What is IFSC Code

The Mithila Times | Finance Desk- IFSC Code :- Indian Financial System Code is an alphanumeric code which use in electronic funds transfer in India. IFS Code unique no. for each bank branch who use or doing RTGS/NEFT/IMPS. RTGS Real Time Gross Settlement , NEFT National Electronic Fund Transfer and IMPS Immediate Payment Service.  

आईएफएस कोड या आईएफएससी भारतीय वित्तीय प्रणाली कोड एक अक्षरांकीय कोड है जो भारत में इलेक्ट्रॉनिक फंड ट्रांसफर की सुविधा उपलब्ध कराता है। यह कोड भारत की दो मुख्य भुगतान और निपटान प्रणालियों, तत्काल सकल निपटान (आरटीजीएस) और नेशनल इलेक्ट्रॉनिक फंड ट्रांसफर (एनईएफटी) में भाग लेने वाली बैंक शाखाओं को विशिष्ट रूप से चिन्हित करता है।

The IFSC is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use. The structure of the IFS Code is shown below.

A B C D 0 1 2 3 4 5 6
Code for Bank Name 0 Code for Branch Name


आईएफएससी कोड एक 11 कैरेक्टर का कोड है जिसमें पहले चार ऐल्फाबेट बैंक का नाम दर्शाते हैं, और अंतिम छः कैरेक्टर (आम तौर पर अंक, परन्तु ऐल्फाबेट भी हो सकते हैं) शाखा दर्शाते हैं। पाँचवा कैरेक्टर 0 (शून्य) है व भविष्य के उपयोग के लिए सुरक्षित है। बैंक का आईएफएस कोड एनईएफटी और आरटीजीएस सिस्टम द्वारा गंतव्य बैंकों/शाखाओं को संदेश भेजने के लिए प्रयोग किया जाता है। 

List of IFS Code

NEFT Supported Branches  Download/View
RTGS      Download/View
NACH Members Download/View

What is MICR Code

Magnetic ink character recognition code, known in short as MICR code. Magnetic Ink Character Recognition (MICR) is a 9-digit code that helps identify a particular bank branch that is part of the Electronic Clearing System (ECS). This code can be found on the cheque leaf that is issued by the bank and is generally printed on the passbook that is issued to the account holder.

What is the use of  MICR Code

The main purpose of the MICR code is to processing and clearance of cheques and other documents. The code helps in avoiding errors as well.

MICR Code Format

The first three digits of the code represents the city, the next three digits represent the bank code, and the last three digits represent the bank branch code. For example, the MICR code for the PNB branch in Delhi a is ‘800003032’. Here, ‘800’ represents the city, ‘003’ represents the bank, and ‘032’ represents the bank branch.

Where is the MICR number on a cheque?

A MICR number on the cheque is written at the bottom of the cheque, on the right-hand side of the cheque number.

Differences between IFSC Code, MICR Code & Swift Code: 

Given in the table below are the differences between the IFSC Code, MICR Code & Swift Code:

IFSC is a 11-digit alphanumeric number. MICR is a 9-digit code. Swift code is a 8 to 11 character
IFSC is used to facilitate electronic money transfer between banks that operate in the country. MICR is used to make cheque processing simpler and faster. Swift code is used to provide the facility of international fund transfer between 2 banks.
In an IFSC code, the first four characters indicate the name of the bank. In the MICR code, a combination of the fourth, fifth and sixth digit indicate the bank code. The first four characters represent the bank code.
In IFSC, the last six characters represent the branch code. In the MICR code, the last three digits indicate the bank branch code. The last three characters are optional and represent bank branch code.
This code is develop by RBI (Reserve Bank of India) This code is develop by RBI (Reserve Bank of India) The code is approved by ISO (International Organization of Standardization)

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