We all have an account in the bank. Many times we have to send money to a friend or relative, then his bank details are not known. In this post i will inform you about how to get bank details from IFSC.
People have become so busy in today’s time. That we don’t have time. Everyone wants to save their time. Very easy access has also been made in banking.
In such a situation, we will tell you about the way in which you can get all the details of your bank only by IFSC code. This method is quite easy and this will save you time.
These details will include many information such as bank name, address, district, branch number. All you have to do is enter the IFSC number of that bank.
But before that we should take important information about IFSC, Which will be of great use in your banking life. You will like this interesting information very much.
What Is IFSC Code?
The full name of IFSC is “Indian Finance System Code”. RBI gives a unique code to each of its branches called IFSC. It is unique code of every bank and it is 11 digits.
With the help of this, the information of any bank is put to know. Reserve Bank of India provides IFSC codes only to those banks which have the facility of NEFT Transactions.
If you want to find the IFSC code of your bank, then you can check your bank account copy, cheque book or on the bank’s website. This code is used in many places.
Many times it happens that we have an IFSC code but the details of that bank are not available. So now I will tell you about such a tool with which you can find bank details from IFSC.
How To Find Bank Details From IFSC Code
1. First of all click on the link below, with the help of which you will reach our other website.
2. Now enter the IFSC code of the bank of which you want to find the details of the bank.
3. Click Search and wait for 2 seconds.
4. After 2 seconds, every information of the bank which of IFSC code you have entered will be in front of you.
5. If you want information about another bank, you can repeat the same method by clicking on Search Another Bank.
This method is the easiest and effective way, with the help of this you can get the details of any bank in the India.
Why IFSC Code Is Important In Banking
RBI gives unique code to every bank which can identify the bank. It became necessary after the introduction of net banking.
Let me explain to you why this is necessary by giving an example. Suppose you have a xyz company bike. How will you identity your bike.
There are many bikes in this city named xyz. This is why a unique number plate is put on bike. Because of your number plate, you can identify your bike.
In the same way, ifsc code is given in the bank so that the bank can be identified. This code is 11 digits and different from each bank.
What Is Reserve Bank Of India
RBI is also called bank of banks. It takes care of India’s currency. It was established in 1935. The head office of Reserve Bank of India is in Mumbai.
The RBI comes into action when the indian government decides to bring or close currency. RBI also reserves the right to cancel old notes.
RBI also makes rules for online transactions so that people’s money is safe. It monitors all banks, hence RBI is also called bank of banks.
Like the IFSC code, there is also a MICR code which we are informing you below.
What Is MICR Code?
The full name of the MICR code is Magnetic Ink Character Recognition. This code is used to identify a particular branch. It is 9 digits long.
This will be easily seen on the leaf of your cheque book. It is used for many other types of payments like neft. It is used for many payments other than neft.
Diffrence Between IFSC Code & Micr Code
|IFSC Code||MICR Code|
|IFSC is an 11 character alphanumeric code.||MICR is a 9-digit code.|
|Last 6 digits represent the bank branch location.||branch location.|
Last three digits indicate the code of the bank branch.
|The first four characters indicate the name of the bank.||The first three digits represent the city code where the bank branch is located.|
|Used to facilitate electronic fund transfers between banks and individuals in India.||MICR code is to make cheque processing more efficient.|
In the end, I want to say that nowadays people have a lot of money and people do not have that much time. I want to save your time.
This website will help you to find bank details from ifsc. This tool is very fast and it will save you a lot of time. I would advise you to be careful while doing online transactions.
If you have more doubts about ifsc or banking than comment down your doubt i will try my best to answer your questions. Also share this post with your friends to gain their knowledge.
I hope you get full information about how to get bank details from ifsc.