Find Indian Financial System Code, Magnetic Ink Character Recognition, SWIFT Code, Address and Contact number of amost 213 banks and almost 143,582 NEFT supported bank branches in India.
IFSC code is a unique eleven-digit number which is a combination of alphabets and numerals. It is used to transfer funds online for NEFT, IMPS and RTGS transactions. Usually, the IFSC code can be found on the cheque-book provided by the bank. The IFSC code of each bank branch is assigned by the Reserve Bank of India.
Swift Code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them.
MICR CODE (Magnetic Ink Character Recognition), as name suggest it is a character recognition technology which helps in faster processing of cheques. Every bank branch is given a unique MICR code and this helps the RBI to identify the bank branch and speed up the cheque clearing process.
RTGS (Real Time Gross Settlement) is a fund transfer system used to transfer money from one bank to another. This gross basis transfer is a real time transfer system. Minimum amount can be transferred is Rs.2,00,000. Fees are applicable.
NEFT (National Electronic Fund Transfer) is an online fund transfer system supported by RBI. NEFT is used for small and medium amount transfer between banks and accounts. No minimum amount limit for NEFT.
IMPS (Immediate Payment Service) is an instant interbank electronic fund transfer system supported by RBI. IMPS is a mobile based system however many Banks offer IMPS via ATM and netbanking too. IMPS is 24 hour service and available on all days including holidays.