Kolkata is the capital of West Bengal, an Indian state. It is located on the east bank of the Hooghly River about 80 kilometers west of the border with Bangladesh. The Kolkata port is India's oldest operating port and it is the sole major riverine port.

The city derives its name from the Kolkata, the Bengali name of one of three villages that predated the arrival of the Britishers. The other two villages were Sutanuti and Govindapur. Today Kolkata is a city famous for its traditional soul, colonial architecture, cultural festivals, and street foods. There are various places in Kolkata to attract the tourist’s attention. Some of them are Howrah Bridge, Mullick Ghat Flower Market, Esplande, Park Street, Victoria Memorial, Birla Planaterium, Kumortuli, Khalighat Temple, Alipur Zoo and others.

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What is an IFSC Code?

The Indian Financial System Code, popularly known as IFSC code, is a unique 11-digit alphanumeric code that is used to identify all banks and their branches at the time of online fund transfer process via NEFT, RTGS and IMPS. The Reserve Bank of India (RBI) issues the IFSC code to each bank. You can find the IFSC code on each cheque leaf and bank account passbook issued by the bank, or on the official website of the bank and RBI.

Key benefits of IFSC Code

Smooth electronic fund transfer:
IFSC code is used for hassle-free and convenient online or electronic fund transfer from one bank account to another via NEFT, RTGS and NEFT.
Unique bank branch identification:
Helps uniquely identify a specific bank and its branch, helping customers to transfer funds to the right bank account.
Fraud prevention:
IFSC Code enables customers to execute an online transfer of funds securely, hence eliminating the chances of any fraudulent activity in the fund transfer process.

IFSC Code Format

The 11-digit alphanumeric IFSC code includes 3 essential components – bank code, zero (0) and specific branch code. Here is an example of IFSC Code of Punjab National Bank (Preet Vihar), Delhi branch.

The first 4 characters represent the Punjab National Bank code
The 5th character is a ‘0’
The remaining 6 characters refer the Preet Vihar, Delhi branch code

Features of IFSC Code

IFSC Code is critical to facilitate the electronic or online fund transfer via NEFT, RTGS and IMPS.
With IFSC Code, the respective bank and the RBI can easily track and maintain all financial transactions done using online payment methods like NEFT, RTGS, IMPS, etc.
It is used to facilitate the unique identification of all banks and their respective branches so that customers are not trapped by cyber criminals and frauds while transferring money online from one account to another.
The IFSC code helps to recognize the specific beneficiary’s branch where the funds will be transferred.

How to use IFSC Code to transfer money

Customers can use the IFSC Code to transfer funds online from one bank account to another instantly and conveniently. The IFSC Code can also be used for credit card bill payments online.

The IFSC code is used to carry out the following online payment services:

How to find IFSC Code

Users can find the IFSC Code of a specific bank branch both online and offline through the following methods.

Online methods

1.) IFSC Code Finder on Afinoz

Here are the steps to find the IFSC Code of any bank branch on Afinoz.com:

Click on IFSC Finder on the top right corner of the website.
Enter your bank name, state, district and branch.
IFSC code along with other banks details will open on your screen.

2.) Reserve Bank of India

You can also search for IFSC Code on the official website of the Reserve Bank of India.

3.) Internet/ mobile banking

You can use your bank’s netbanking portal or mobile app to find the IFSC Code of your bank.

Offline methods

Use any of the following methods to find the IFSC Code of a particular bank branch offline.

1.) Passbook

Account holders can find the IFSC code on a passbook issued by a bank

2.) Cheque book

IFSC Code can also be found on the top of the cheque leaf issued by a bank. The MICR Code is printed at the bottom of the cheque leaf.

What is MICR Code?

Magnetic Ink Character Recognition (MICR) is a 9-digit numeric code that is used for faster processing of cheques. It is also unique for every bank branch and used to uniquely identify a particular bank branch participating in Electronic Clearing System (ECS). MICR Code can be found at the bottom of the cheque leaf and on the passbook issued by the bank to the account holder.

What is MICR Code used for?

MICR code ensures quick, efficient and error-free processing and clearance of cheques.
The code is used to clear cheques that are deposited in machines.
Magnetic ink, reading machines and technology used in MICR help in avoiding errors.
MICR Code is as important as IFSC code to transfer funds using NEFT and IMPS.
MICR Code enables banking officials to scan cheques and read the information through the system.
As each bank branch has unique MICR Code issued by RBI, it helps identify the particular bank branch and expedite the clearing process.

MICR Code Format

MICR is a 9-digit numeric code where the first 3 digits indicate city code, middle 3 represent bank code and the last 3 represent the bank branch code. For example, the MICR code for the ICICI branch at Safdarjung Enclave, New Delhi is 110229044. Here ‘110’ represents the city, ‘229’ represents the bank and ‘044’ represents the bank branch.

How to find MICR Code?

The MICR code is printed next to the cheque number at the bottom of cheque leaves. MICR Number is printed in a unique font and ink that allows only a Magnetic Character Ink Reader to read and process the printed information.

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FAQ's

Is IFSC code required for IMPS?

Yes, using IFSC code is mandatory to transfer funds online using IMPS. If the receiver’s MMID is not available, you need account number, name and IFSC code of the receiver to transfer funds using IMPS.

What is IFSC code?

IFSC code is a unique 11-digit alphanumeric code.

What is the full form of IFSC code?

IFSC stands for Indian Financial System Code.

What is IFSC code used for?

IFSC code is used to uniquely across all bank branches within the NEFT (National Electronic Funds Transfer) by the Reserve Bank of India.

What are the common online payment services in India?

Most common online methods that are used to transfer funds from one bank account to another include RTGS (Real-time Gross Settlement), NEFT (National Electronic Fund Transfer), IMPS (Immediate Payment Service) and UPI (Unified Payment Interface).

What is the full form of MICR Code?

MICR or Magnetic Ink Character Recognition is a group of nine number printed on the bottom of a cheque.

How to identify bank name by IFSC code?

It is very easy to recognize the bank name using IFSC code. The first four digits of the IFSC code indicate the bank name. For example, SBIN in ‘SBIN0001707’ IFSC code represents the State Bank of India.

What is the MICR Code used for?

MICR is a technology used by banks to verify the originality of cheques and other documents. The Reserve Bank of India identifies the bank branch using the MICR code.

Do all bank branches located in the same city have different IFSC code?

Yes, as the name suggests IFSC Code is a unique group of numbers and vary from branch to branch of the same bank.

Are branch code and IFSC code similar?

No, IFSC code is different from the branch code.

Where can I find the IFSC code on the cheque book?

You can see the IFSC code on the top part of every cheque leaf issued by the bank.

Where can I find the MICR code on the cheque?

MICR code appears next to the cheque number at the bottom of every cheque leaf given by banks.

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PUNJAB AND SIND BANK IFSC Codes in KOLKATA