An 11-digit identification number called the Indian Bank IFSC code aids in directing online money transfers to the appropriate branch. However, the nine-digit MICR code , which is printed at the bottom of checks, expedites the processing of checks. These codes work together to guarantee secure and easy banking transactions. To find out more about the IFSC and MICR codes for Indian Bank , continue reading. Indian Bank IFSC Codes Let us understand what is IFSC . IFSC stands for “ Indian Financial System Code ”. It is an alphanumeric code that is assigned to each branch of a bank . IFSC is a unique identification number and is essential for any form of money transfer between banks. Indian Bank IFSC code consists of eleven digit code which comprises of first four letters as ‘xxxx’, the fifth digit is 0 followed by the last 6 digits which represent the specific Indian Bank branch code . Here ... Indian Financial System Code ( IFSC ). It is used for electronic payment applications like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service, an interbank electronic instant mobile money transfer service (IMPS), and Centralised Funds Management System (CFMS) developed by Reserve Bank of India (RBI). Code has eleven characters "Alpha Numeric" in nature. First four characters represent bank , fifth character is default "0" left for future use ...
