IFSC Code Finder - Find India Bank IFSC Code & MICR Code

IFSC stands for Indian Financial System Code. It's an eleven digits & characters combination unique identifying number. This unique code helps to identify the perticular individual bank branches for smooth online transation such as NEFT, RTGS & IMPS transations. This code is developed by RBI (Reserve Bank of India).

Structure of the IFSC Code

The first four letters of the IFSC Code is bank code, Next one digits is genarally (0) zero & it's reserved for future use & last six digits is an unique identifier no for the particular Financial institution or bank branch.

Example : Breakdown of IFSC Code

A	B	C	D	0	1	2	3	4	5	6
Bank Code				Future Use	Branch Code

What is IFSC code used for?

IFSC Code used for various electronic or online fund transfer such as NEFT, RTGS, IMPS & other online fund transferring etc.

What is MICR Code?

MICR stands for Magnetic Ink Character Recognition technology & this code is developed by RBI (Reserve Bank of India). It's also a nine digits unique identifying number. This unique nine digits MICR code helps to identify the perticular individual bank branches and branch participating in an Electronic Clearing System (ECS).

The MICR code is located on the bottom of a each cheque leaf, next to the cheque number. You can also find it printed on the first page of a bank passbook.

Structure of the MICR Code

The first three digits of the MICR Code is city code & they ae aligned with the pin code that we use for postal address in India. Next three digits is bank code & last three digits is branch code & it's an unique identifier number for a particular Financial institution or bank branch.

Example : Breakdown of MICR Code

1	2	3	4	5	6	7	8	9
City Code			Bank Code			Branch Code

What is MICR code used for?

MICR Code used for various financial transations such as SIP form or for transferring funds.

The given information is as per the guidelines of RBI (Reserve Bank of India)

Payment Service	NEFT	RTGS	IMPS
Process	Process is based on Deferred Net Settlement (DNS) and the transfer of funds will be carried out in half-hourly batches starting from 12:30 am to 12:00 am	Payment process in which the money is credited in the beneficiary’s bank branch in real-time and on gross basis	Real-time and instant interbank fund transfer process, IMPS is considered a secure & faster mode of fund transfer
Minimum Transfer Limit	Re.1	Rs.2 lakh	Re.1
Maximum Transfer Limit	No limit	No limit	Rs.2 lakh
Operational Timings	Available 24x7, 365 days (including bank holidays)	7 am to 6 pm on all working days	Available 24x7, 365 days (including bank holidays)
Inward Transaction Charges	No charges	No charges	Decided by individual member banks and PPIs

FAQ on IFSC & MICR code

Q. Do IFSC codes get changed?

A. Generally no but if the particular bank undergoes any merger or something then only the new IFSC code will be issued by RBI (Reserve Bank of India) & the old one will be deactivated.

Q. How to transfer money using the IFSC code?

A. Using IFSC code transferring funds from one bank to another bank or the same bank different accounts is really a hassle free solution. When you try to transfer funds using online banking such as NEFT, RTGS, IMPS & others method then you need the customer name, bank account no. & the IFSC code.

Q. Is sharing IFSC & MICR code safe?

A. Each Indivitual bank branch's IFSC code & MICR code is matchless and it's essential in India for transferring funds through the online banking. Every bank guarantees the security of the fund transfer & no one may misuse the IFSC code & MICR code for fraud, theft & spaming.

Q. Is IFSC code and branch code is same?

A. No. An IFSC code is an eleven digit alphanumeric unique code issued by RBI(Reserve Bank of India) to identify the each indivitual bank branch. Branch code is a part of of the IFSC code because it's identify a particual bank branch. The last 6 digit of the IFSC code is the branch code & this code is also printed on your first page of your bank passbook.