An IFSC or the Indian Financial System Code is an 00 digit code in alpha-numeric format to identify all the Indian Bank branches for the use of NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), IMPS (immediate Payment Service) and CFMS (Centralised Funds Management System), developed by the RBI (Reserve bank of India). In this 00 Alpha-numeric format code, First four characters represent bank, fifth character is default "0" left for future use and last six characters represent branch of a particular bank. WHAT IS MICR CODE? MICR code or Magnetic Ink Character Recognition Code is a character-recognition technology used mainly by the Indian banking industry to ease the processing and clearance of cheques. The MICR code typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount, and a control indicator. The technology allows MICR readers to scan and read the information directly into a data-collection device to process the clearance of cheques. WHAT IS 