Find IFSC Code & MICR Code for All Indian Banks: Your Ultimate Guide
Finding the IFSC code and MICR code for Indian banks is an essential task for anyone who wants to transfer money electronically. The Indian Financial System Code (IFSC) is a unique 11-digit alphanumeric code that identifies a particular bank branch in India. It is used for transferring funds using the Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT), and Immediate Payment Service (IMPS) systems. The Magnetic Ink Character Recognition (MICR) code, on the other hand, is a nine-digit code used for processing cheques.
To find the IFSC and MICR codes for Indian banks, there are several methods available. One of the easiest ways is to check the bank's website, where the codes are usually listed under the 'Branch Locator' or 'Contact Us' section. Another option is to use a third-party website that provides a comprehensive list of IFSC and MICR codes for all Indian banks. These websites allow users to search for codes by bank name, branch location, or even by account number.
Knowing the IFSC and MICR codes for your bank is crucial for hassle-free money transfers. By familiarizing yourself with the codes and using the right method to find them, you can save time and avoid errors while transferring funds electronically.
Understanding IFSC and MICR Code
IFSC stands for Indian Financial System Code. It is an 11-digit alphanumeric code that uniquely identifies a bank branch participating in the NEFT or RTGS system. The first four characters of the IFSC code represent the bank code, followed by a zero (0), and the last six characters represent the branch code.
MICR stands for Magnetic Ink Character Recognition. It is a technology used in the banking industry to facilitate the processing of cheques. MICR code is a 9-digit code that uniquely identifies a bank branch. The first three digits represent the city code, the middle three digits represent the bank code, and the last three digits represent the branch code.
The IFSC and MICR codes are important for electronic fund transfers and cheque processing. They ensure that the funds are transferred to the correct bank and branch.
Here are some key points to keep in mind about IFSC and MICR codes:
- IFSC codes are used for NEFT and RTGS transactions, while MICR codes are used for cheque processing.
- IFSC codes are unique for each bank branch, while MICR codes are unique for each bank branch in a city.
- IFSC codes are alphanumeric, while MICR codes are numeric.
- You can find the IFSC and MICR codes of your bank branch on the bank's website, cheque book, or passbook.
Understanding IFSC and MICR codes is essential for anyone who wants to make electronic fund transfers or process cheques. Knowing these codes will help you ensure that your transactions are processed smoothly and efficiently.
How to Find IFSC Code
To find the IFSC code of any bank in India, one can follow the below-mentioned steps:
- Visit the official website of the Reserve Bank of India (RBI) or the website of the respective bank.
- Look for the 'IFSC Code' option on the website.
- Enter the required details such as the name of the bank, branch, state, and city.
- Once the details are entered, the IFSC code of the particular bank branch will be displayed on the screen.
Alternatively, one can also find the IFSC code of a bank branch through other online platforms such as bankbazaar.com, paisabazaar.com, etc. These platforms provide a comprehensive list of IFSC codes of various banks and their branches across India.
It is important to note that the IFSC code is a unique 11-digit code that is used for online fund transfers and other financial transactions. Hence, it is crucial to ensure that the correct IFSC code is entered while making any transaction to avoid any errors or delays.
Overall, finding the IFSC code of a bank in India is a simple and hassle-free process that can be done through various online platforms.
How to Find MICR Code
MICR code is a unique code that is used to identify the bank and branch participating in an Electronic Clearing System (ECS). It stands for Magnetic Ink Character Recognition and is printed on the bottom of a cheque leaf. Here are the steps to find the MICR code of any Indian bank:
- Visit the official website of the bank whose MICR code you want to find.
- Look for the 'Branch Locator' or 'Contact Us' section on the website.
- Enter the name of the city or state where the bank branch is located.
- Select the branch from the list of options provided.
- The MICR code of the selected bank branch will be displayed on the website.
Alternatively, you can also find the MICR code of any Indian bank using the following methods:
- Check the bottom of a cheque leaf issued by the bank. The MICR code will be printed in the bottom line of the cheque.
- Contact the bank's customer care centre and ask for the MICR code of the desired branch.
- Visit the bank branch in person and ask for the MICR code.
It is important to note that the MICR code is different from the IFSC code, which is used for online fund transfers. While the MICR code is printed on the bottom of a cheque leaf, the IFSC code can be found on the bank's website or on the cheque book itself.
List of Major Indian Banks and Their IFSC and MICR Codes
Here is a list of major Indian banks and their corresponding IFSC and MICR codes. These codes are essential for carrying out any online or offline banking transactions in India.
State Bank of India
The State Bank of India (SBI) is the largest public sector bank in India. It has over 24,000 branches across the country and offers a wide range of banking services. The IFSC code for SBI is SBIN, and the MICR code is 110002002.
HDFC Bank
HDFC Bank is one of the largest private sector banks in India, with over 5,000 branches across the country. The IFSC code for HDFC Bank is HDFC, and the MICR code is 400240002.
ICICI Bank
ICICI Bank is another major private sector bank in India, with over 5,000 branches across the country. The IFSC code for ICICI Bank is ICIC, and the MICR code is 400229002.
Punjab National Bank
Punjab National Bank (PNB) is a public sector bank with over 7,000 branches across India. The IFSC code for PNB is PUNB, and the MICR code is 110024002.
Bank of Baroda
Bank of Baroda (BOB) is a public sector bank with over 8,000 branches across India. The IFSC code for BOB is BARB, and the MICR code is 400012002.
Axis Bank
Axis Bank is a private sector bank with over 4,000 branches across India. The IFSC code for Axis Bank is UTIB, and the MICR code is 400211002.
Canara Bank
Canara Bank is a public sector bank with over 6,000 branches across India. The IFSC code for Canara Bank is CNRB, and the MICR code is 560015002.
Union Bank of India
Union Bank of India is a public sector bank with over 4,000 branches across India. The IFSC code for Union Bank of India is UBIN, and the MICR code is 400026002.
Bank of India
Bank of India (BOI) is a public sector bank with over 5,000 branches across India. The IFSC code for BOI is BKID, and the MICR code is 400013002.
Central Bank of India
Central Bank of India is a public sector bank with over 4,000 branches across India. The IFSC code for Central Bank of India is CBIN, and the MICR code is 400016002.
This list is not exhaustive and there are many other banks in India with their own unique IFSC and MICR codes.
Role of IFSC and MICR Code in Banking Transactions
IFSC (Indian Financial System Code) and MICR (Magnetic Ink Character Recognition) codes play a crucial role in banking transactions in India. They are unique codes that help identify specific bank branches and facilitate secure and error-free fund transfers.
IFSC Code
IFSC code is an 11-digit alphanumeric code that is assigned to each bank branch in India by the Reserve Bank of India (RBI). It is used to identify the bank and its branch during electronic fund transfers such as NEFT, RTGS, and IMPS. The first four characters of the IFSC code represent the bank code, followed by a zero, and the last six characters represent the branch code.
MICR Code
MICR code is a 9-digit code that is printed on the bottom of cheques and other banking documents. It uses magnetic ink to encode bank account details, including the bank code, branch code, and account number. MICR code is used to facilitate the processing of cheques and other documents through the automated clearing system.
Both IFSC and MICR codes are essential for ensuring the accuracy and security of banking transactions. They help prevent errors and fraud by ensuring that funds are transferred to the correct bank and branch. Banks and financial institutions are required to display their IFSC and MICR codes on their websites and other official documents to enable customers to make electronic fund transfers and other transactions seamlessly.
In conclusion, the use of IFSC and MICR codes has revolutionized banking in India, making it faster, more secure, and more convenient for customers.
FAQs on IFSC and MICR Code
IFSC and MICR Code are important for making online transactions in India. Here are some frequently asked questions about these codes:
Q: What is IFSC Code?
A: IFSC Code stands for Indian Financial System Code. It is an 11-digit alphanumeric code used for online fund transfers between banks in India. Every bank branch in India has a unique IFSC Code.
Q: What is MICR Code?
A: MICR Code stands for Magnetic Ink Character Recognition Code. It is a 9-digit code used for processing cheques. It helps in identifying the bank branch and the account number mentioned on the cheque.
Q: How can I find the IFSC Code and MICR Code of my bank branch?
A: You can find the IFSC Code and MICR Code of your bank branch on your cheque book, passbook, or the bank's website. You can also search for it on the Reserve Bank of India's website.
Q: Can one IFSC Code be used for multiple bank branches?
A: No, each bank branch has a unique IFSC Code. Even if two branches of the same bank are located in the same city, their IFSC Codes will be different.
Q: Is it safe to share my IFSC and MICR Code with others?
A: Yes, it is safe to share your IFSC and MICR Code with others as they are used only for making online transactions or processing cheques.
Q: Can I transfer money without an IFSC Code?
A: No, you cannot transfer money online without an IFSC Code. It is a mandatory requirement for making online transactions in India.
Q: What happens if I enter the wrong IFSC Code while making an online transaction?
A: If you enter the wrong IFSC Code, the transaction may get rejected or the money may get transferred to the wrong account. It is important to double-check the IFSC Code before making an online transaction.
In summary, IFSC and MICR Codes are important for online transactions and cheque processing in India. It is important to know the correct codes for your bank branch to avoid any errors in transactions.
Conclusion
In conclusion, finding the IFSC code and MICR code for Indian banks is a relatively straightforward process. With the advent of online banking, customers can easily access this information from the comfort of their homes. It is important to note that the IFSC code is a crucial piece of information required for online transactions, and customers must ensure that they provide the correct code to avoid any errors.
Customers can find the IFSC code and MICR code through various means, including the bank's website, mobile banking app, or by visiting the bank's branch. It is recommended that customers use the bank's official website or mobile banking app to access this information to ensure its accuracy.
Furthermore, customers must be aware that the IFSC code and MICR code may change from time to time, and it is important to keep track of any updates. Banks usually notify their customers of any changes through emails or notifications on their mobile banking app.
Overall, finding the IFSC code and MICR code for Indian banks is a simple process that can be done in a matter of minutes. By using the correct code, customers can ensure that their transactions are processed smoothly and without any errors.
