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Introduction

Transferring the money from one bank to another might have been cumbersome in those bygone days. People have lined up in queues for long hours in order to get the money in the receiver’s bank safely. But the revolution of banks has passed away from these problems for the past few decades and has made the transfer of money possible by saving cost, money, and energy. But do you know what the instruments are now working to overcome such a problem? The IFSC code.

Details of IFSC Code in in ,

How to find IFSC Code in ?

Here you can find the IFSC code in :

  • You can get the IFSC code on cheque leaf
  • On the front page of the passbook
  • The bank's website and mobile banking app also provide information on the IFSC.
  • RBI has different tabs for searching the IFSC code. So if you’re struggling to find your bank branch, you can either find it on the RBI’s website.

Format of IFSC Code

The format of the IFSC code is provided below:

A A A A B C C C C C C
Name of the Bank Specific branch of the bank name
  • First 4 figures: The first 4 figures (AAAA) consist of the IFSC code, which is defined by certain alphabetical letters. These alphabetical letters are nothing but the name of the bank, which is established in Indian territory. For example, "" in IFSC code. This code is necessary in IFSC code because it helps to route the direction of the transaction to the correct bank without diverting the route of the user bank.
  • 5th character: Here the 5th character (B) mentioned in the IFSC code is always indicated from ‘0’. This zero is reserved for future use. Another characteristic of this figure is that it helps to separate the IFSC code figure and branch figure number. By separating these characters, it provided the uniform and concise look of IFSC code without finding much confusion to separate these two.
  • Last 6 figures: The last 6 figures (CCCCCC), which are mentioned in the IFSC code, consist of numerical characters. These digits are denoted to identify a specific branch of the bank name. This figure plays a vital role in making the IFSC code more meaningful. In a larger network cluster of banks, the IFSC code helps to differentiate one bank from another in order to direct the fund to the correct branch branch. As many banks have been operated in different locations, the banks could certainly be different.

How to use IFSC Code?

The IFSC code can be used in many electronic interfaces in India to transfer funds across different bank branches, such as NEFT, IMPS, and RTGS:

  • Gather all details: For initiating the transfer of funds electronically, you need to ensure that the user has gathered all the details, such as the account number, name, and IFSC code.
  • Initiate the transfer:
    1. Online banking: For transferring the funds accordingly, you need to log in to the portal of online banking from which your bank gets enabled.
    2. Mobile e-banking: You can opt for other options in your mobile app and navigate to select the mode to transfer the funds.
  • Enter details: You can proceed to enter the details, like the recipient's bank account number and IFSC code. Make sure to double-check the details for accuracy.
  • Confirm and transfer: Upon checking the IFSC code, you can ensure that the money is routed to the right bank branch.

How to Know the IFSC Code?

Here are the several ways in which you can get the k IFSC code of the branch name:

  • Bank documents: You can find the IFSC code of your branch through the cheque book and passbook.
  • Bank website: On their official websites, the majority of banks include a branch finder feature that allows you to look for your branch by entering its name or location.
  • Online banking: If you have access to your bank's online banking system, you can easily obtain the IFSC code by checking your account information or while registering a new payer.
  • Bank statements: Your bank account statement, whether digital or paper, might contain the IFSC code with your account information.

How to find MICR Code?

The MICR code can be found in several ways, some of which are listed below:

  • Cheque book: You can find the 9-digit MICR code on the top of the cheque leaf next to the cheque number at the bottom of the leaf.
  • Passbook: The MICR code is written on the first page of the passbook along with the IFSC code.
  • Official website of your bank: You can also find the MICR code of your bank branch on the official website of your bank and also on the RBI official website main portal.

Why Choose BizFoc?

Bizfoc is an accounting firm that specialize in wide fields of services like company registration, FEMA, FSSAI Registration, IFSC code registration in ICEGATE, GST registration, and ITR filings. Our team of professionals specialize in getting your services that make your business stay compliant with certain laws and regulations. We are incredibly proud to be India's leading platform for all your accounting, registration and compliance needs. We cater from startups to large business houses, aiming to be unmatched leaders in delivering exceptional services.

Frequently Asked Questions Related to ,

The MICR code is the 9-digit code used in banks in order to identify the bank of the particular branch that's participating in the electronic clearing system.

No, the 5th character of the IFSC code doesn’t undergo any change in the future. Despite the line mentioning that it is reserved for future use doesn’t mean it will change. This character will remain constant in the format of the IFSC Code.

If the FinoPay IFSC code goes wrong while filling transaction details and are submitted to the bank, the bank won’t respond to the mistake and will cancel the transactions. Yet the payer can also visit the bank to physically pay the money to the payee.

The IFSC code of a in , , is given as: FINO001167

The address that is associated with the IFSC code in , :

You can find the IFSC code of the , , , in several ways:

  • On the front page of the passbook
  • You can get the IFSC code on cheque leaf
  • The bank's website and mobile banking app also provide information on the IFSC.
  • RBI has different tabs for searching the IFSC code. So if you’re struggling to find your bank branch, you can either find it on the RBI’s website by entering your correct IFSC code, which belongs to a concerned bank branch.

The process for updating KYC at FinoPay Savings Account in , , is as follows:

  • Visit the branch name
  • Fill out the KYC form.
  • Submit the required documents along with the application, such as the PAN card, an Aadhar card, and two passport-size photos.
  • Proceed with the verification.
  • Confirmation of the KYC to the applicant

No, the MICR codes and IFSC codes can’t be used interchangeably. This is because both codes function differently from each other. The MICR code is used for speeding and helps to clear up the cheque clearance process. On the other hand, an IFSC code is used to regulate online money transfers.

To register under IFSC code registration in ICEGATE, you need to visit the ICEGATE website. Fill out the application form along with uploading the required documents in JPEG or PDF format. On receiving the OTP select the bank name and IFSC code and enter the IRN number of the documents uploaded in e-SANCHIT and enter your ICEGATE ID.