what is IFSC code and MICR code?.You are often asked to fill in these details most probably during filing your IT returns.Indian Financial System Code (IFSC) is used for electronic payment applications like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) and Centralised Funds Management System (CFMS) developed by Reserve Bank of India (RBI). Code has eleven characters "Alpha Numeric" in nature. First four characters represent bank, fifth character is default "0" left for future use and last six characters represent branch.
MICR Code: Magnetic Ink Character Recognition as printed on cheque book to facilitate the processing of cheques
You can easily get this info from the cheque book
.However, Many people don't carry the cheque book always then what?.One simple solution is to go to sites like http://bankifsccode.com/ and punch in your branch details to get the IFSC code and also don't forget that you can save the IFSC and MICR codes in your cellphone,gadget that you always carry with you.
