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What is IFSC Code?
The full form of the IFSC Code is the Indian Financial System Code. The IFSC code is a 11 digit code. IFSC code is used in the Indian banking system. The last six digits of the IFSC code represent the branch code, and the first four digits represent the bank code. IFSC code is used for RTGS, IMPS, UPI (Bank Transfer), and NEFT transactions. You can Make transactions using IFSC code and account number using Internet banking or mobile banking.
What is MICR Code?
The full form of the IFSC Code is the Magnetic ink character recognition. The MICR code is a 09 digit code. Magnetic ink Character Recognition (MICR) code is given on the check. MICR is different for each bank. MICR Code Read by reader-sorter machine.
Use Of IFSC Code?
The IFSC code is used for RTGS, IMPS, UPI (Bank Transfer), and NEFT transactions. You can send money using IFSC code and account number when transacting through Net Banking and Mobile Banking.
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