IFSC Code and MICR Code Finder

Find IFSC code, MICR code and branch address of all banks in India.

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What Is Bank IFSC Code?

The IFSC code of any given bank is its official Indian Financial System Code (IFSC), which is a unique alphanumeric code used to identify the respective branch in the national database. Banks within the IFSC database participate in four standard Electronic Funds Settlement Systems used across India, which are as follows:

  • 1. Real Time Gross Settlement (RTGS)
  • 2. National Electronic Funds Transfer (NEFT)
  • 3. Immediate Payment Service Systems or (IMPS)
  • 4. Centralised Funds Management System or (CFMS)

The Purpose of IFSC Code

The purpose of the IFSC code is to facilitate digital banking transactions, which may include anything from the payment of utility bills to reserving travel tickets online. Unless the bank in question is part of the IFSC database, a wide variety of transfers from one account to another cannot be completed.

In addition, the IFSC code of a bank can be used to find out key information about the branch in question. Information including its postal address, e-mail address, SWIFT code, PIN code and so on.

What Is a MICR Code?

MICR code is an abbreviation of Magnetic Ink Character Recognition code, which refers to a security standard used in banking and other industries to effectively and securely process documents like personal cheques. MICR code can usually be seen right at the bottom of cheques and other financial documents, comprising a series of digits which communicate the details of the respective transaction.

The information is scanned using a special magnetic reader, which is then processed and stored on the respective device or network. Though humans can easily read MICR code, it cannot be produced without the required devices and related technology.

The Purpose of MICR Codes

The primary purpose of MICR codes is to accelerate the process of reading and clearing financial documents like cheques. What's more, the MICR code can almost entirely remove the prospect of human error from the equation.

MICR code speeds up, simplifies and enhances the security of reading and working with a variety of financial documents.

What is a SWIFT Code?

A bank's SWIFT code represents its Society for Worldwide Interbank Financial Telecommunication code. Or to put it another way, its unique identifier in a standardised form that can be read and accessed by banking systems worldwide.

The overwhelming majority of banks and financial institutions worldwide have their own unique SWIFT codes, which simplify the process of transferring funds, making payments and generally identifying the institution/branch in question. A SWIFT code always comprises between eight and 11 alphanumeric characters.

The Purpose of SWIFT Codes

Along with facilitating and simplifying transactions and transfers between banks, SWIFT codes are also used to allow banks to transfer messages to one another.

A SWIFT code is usually mandatory, when looking to transfer funds or make payment internationally.