what is ifsc and micr code

Banking codes can be a confusing topic, but they’re an essential part of the banking system. Two of the most important codes are IFSC and MICR codes. In this article, we’ll explain what these codes are, where you can find them, and how they work together to keep your money safe and secure. We’ll also discuss how these codes help with online payments and other banking services. By the end of this article, you’ll understand everything about IFSC and MICR codes and be able to use them easily for all your banking needs.

What is an IFSC code?

An IFSC code is an 11-digit code that identifies a particular branch of a bank. The first four characters of the IFSC code represent the bank’s name, while the last six characters represent the branch’s specific location. The remaining character in the IFSC code is used to identify which bank it belongs to.

what is ifsc and micr code
what is ifsc and micr code

What is a MICR code?

A MICR code is a nine-digit code used to identify a bank and branch location for the purpose of clearing checks in India. The first three digits of the MICR code represent the city code, the next three digits represent the bank code, and the last three digits represent the branch code. When combined, these nine digits can be used to uniquely identify a specific bank branch.

How to find your bank’s IFSC and MICR codes

The easiest way to find your bank’s IFSC and MICR codes is by looking them up on the Reserve Bank of India’s website. Simply enter your bank’s name in the search bar, and the results will include your bank’s IFSC and MICR codes.

You can also find your bank’s IFSC and MICR codes on its website or in its customer care brochures. If you have an account with the bank, you can also find these codes on your cheque book or passbook.

Uses of IFSC and MICR codes

An IFSC (Indian Financial System Code) is an alphanumeric code that uniquely identifies a bank-branch participating in the two main electronic payment systems in India: the Real Time Gross Settlement (RTGS) and the National Electronic Funds Transfer (NEFT) systems.

A MICR (Magnetic Ink Character Recognition) code is an alphanumeric code used by banks in India for processing cheques. MICR codes are printed on all cheques issued by banks in India. The MICR code consists of three parts:

The first part is the bank code, which identifies the bank that has issued the cheque.

The second part is the branch code, which identifies the specific branch of the bank that has issued the cheque.

The third part is the cheque number, which is unique to each cheque.

Difference between IFSC and MICR codes

When it comes to making financial transactions, there are a few different ways that you can identify a specific bank or branch. Two of the most common methods are by using the IFSC code or MICR code. So, what’s the difference between IFSC and MICR codes?

IFSC (Indian Financial System Code) codes are used for identifying a particular bank branch when transferring funds through NEFT or RTGS. This 11-digit alphanumeric code is unique to each bank branch, and is assigned by the Reserve Bank of India.

MICR (Magnetic Ink Character Recognition) codes are used for identifying a particular bank branch when processing cheques. This 9-digit code is also unique to each bank branch, and uses special characters that can be read by machines. MICR codes are printed on the bottom of cheques.

So, in summary, IFSC codes are used for electronic fund transfers, while MICR codes are used for processing cheques.


In conclusion, IFSC and MICR codes are important pieces of bank information used for money transfer activities. They help facilitate the safe, secure and efficient transfer of money from one place to another. Knowing the IFSC and MICR code can come in handy when you need to make a payment or receive funds electronically. With this knowledge, you can now ensure that your transactions remain safe and secure at all times.

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