IFSC Code For all Banks
IFSC Stand for Indian Financial System Code is an alphanumeric 11 digit code. Indian Financial System Code (IFSC) plays a key role when it comes to online or net banking like money transfers, ergo. This 11 digit code identify unique bank and bank branches that help you on various online money transfer benefit like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), IMPS (Immediate Payment Service Systems), Centralised Funds Management System (CFMS).
Pattern Of IFSC Code
- First 4 code represent Bank Name.
- Fifth position is default "0" Zero.
- And Last 6 code represent branch Name.
- Example:- SBIN0000539.
MICR Stand for Magnetic Ink Character Recognition.MICR code can be found in all cheques and is based at the bottom of every check. The reason for introducing MICR code was to enhance and upgrade security with regards to fund transfer. It is basically a 9 code digit number.
NEFT stand for National Electronic Fund Transfer one-to-one funds transfer from one bank account to another.
RTGS stand for Real Time Gross Settlement transfer fund on real time and on a "gross" basis from one bank to another.
IMPS stand for Immediate Payment Service Founded on 22nd November 2010.this service can use 24*7 to transfer fund through ATM, mobile phone, internet.