FAQs Concerning MICR and IFSC Codes
What is the IFSC's complete form? Indian Financial System Code is the full form of the acronym IFSC
Why is IFSC applied? The Reserve Bank of India uses the Indian Financial System identifier (IFSC), an 11-digit alphanumeric identifier, to identify each bank branch within the National Electronic Funds Transfer (NEFT) network individually.
How do I use my IFSC code to look for a bank's name? Using the IFSC code, locating the bank name is quite simple. In the IFSC code, the bank name appears in the first four characters. For example, the IFSC code will resemble HDFC0004053 if the bank is called HDFC.
How does a MICR code represent something? The acronym for Magnetic Ink Character Recognition is MICR. This particular ink reacts to magnetic fields. A check has it printed on the bottom. Read more