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BHARAT COOPERATIVE BANK MUMBAI LIMITED has branches in 3 states
States
GUJARAT
KARNATAKA
MAHARASHTRA

What is Indian Financial System Code (IFSC)?

IFSC stands for Indian Financial System Code. It’s a unique eleven-digit alphanumeric code which is consist of alphabets and numbers. A code uniquely identifies each bank branch participating in the various online money transfer options

  1. Real Time Gross Settlement (RTGS) - It is a real-time fund transfer method in which transaction is not subject to any waiting period.
  2. National Electronic Fund Transfer (NEFT) - It is an electric fund transfer method by which customers can transfer funds between any two NEFT-enabled bank accounts on a one-to-one basis. Unlike real-time gross settlement fund transfers through the NEFT method do not occur in real-time basis. It settles in hourly batches.
  3. Immediate Payment Service (IMPS) - It is mostly used payment method where payment is processed inter-back. It offers an inter-bank electronic fund transfer service through mobile phones.

The IFSC code assigns by the Reserve bank of India (RBI) to each branch that participates in online money transfer. The IFSC code does not change often but recently RBI updated IFSC code of most the branches after the merger of few banks.


IFSC Format

1 2 3 4 5 6 7 8 9 10 11
Bank Code 0 Branch Code

First 4 Digits represent the bank name like SBIN For STATE BANK OF INDIA, UCBA for UCO BANK, BKDN for DENA BANK. The fifth digit is left as 0 (ZERO) for further use.

Last 6 Digits represent the specific branch of that particular branch, it should be mentioned that two branches of a different bank can have the same branch code (obviously last 6 digits).


Where can I search for IFSC Code?

You can search for the IFSC Code of a bank in multiple ways:

  • You can search for the IFSC code on the cheque and passbook provided by the bank
  • By visiting website of the respective bank
  • Search for IFSC code at RBI’s website
  • Find IFSC code easily at bankifsccodeinfo.com website. Select Bank, State, District and then branch.

What is MICR?

MICR stands for Magnetic Ink Character Recognition code. It is a character recognition technique used mainly by the banking sector streamline the process and fast clearance of cheques and other documents. MICR enabled document can be processed fast and accurately.

Mainly 2 types of font E13B and CMC-7 are used in the MICR. The font widely used for the code is the E13B in India. The device that uses to read the MICR code is called the MICR reader.