IFSC (Indian Financial System Code) is an 11-character code that uniquely identifies a bank branch in India. It's used for electronic funds transfers and is essential for NEFT, RTGS, and IMPS transactions.
Format: AAAABCCXXX
Example: BARB0BALESH (bank of baroda ifsc code, BALESHWAR Branch)
MICR (Magnetic Ink Character Recognition) code is a 9-digit code that uniquely identifies a bank branch in India. It's primarily used for processing cheques and other documents.
Format: CCCBBBSSS
Example: 110002052 (sbi micr code, JAHANGIRPURI Branch)
MICR codes are printed on cheques using special magnetic ink, allowing for quick and accurate processing of financial documents.