LOCATE ANY BANK BRANCH IN INDIA
Credit Suisse. Entrepreneurial from the start.
It all began with Swiss railroads in 1856. When the country needed to finance the expansion of its rail network, the forerunner to Credit Suisse was founded. We have since turned into an integrated bank operating in more than 50 countries around the world.
What started off as a Swiss investment bank turned into a success story spanning over the next century and a half, with Credit Suisse gradually evolving into a leading global provider of financial services.
This development has been achieved through strong organic growth, supplemented by a series of significant mergers and acquisitions such as that of the US investment bank CS First Boston in 1990, the Swiss private bank Bank Leu in 1990, Switzerland s fourth largest bank – Volksbank – in 1993, the Brazilian wealth manager Hedging-Griffo in 2007, and Morgan Stanley s wealth management businesses in Europe, Middle East, and Africa in 2013 to cite a few of the more recent deals.
This has involved the amalgamation of very different cultures, philosophies, and spheres of specialist knowledge, which has resulted in the creation of a strong integrated bank. As of 2006, the bank began operating as a globally active integrated universal bank providing comprehensive solutions to our clients in private banking, investment banking, and asset management.
What is IFSC Code
IFSC is short for Indian Financial System Code and represents the 11 digit character that you can usually see on your bank’s cheque leaves, or other bank sponsored material. This 11 character code helps identify the individual bank branches that participate in the various online money transfer options like NEFT and RTGS.
How to find IFSC Code?
Ways to find IFSC codes
- IFSC code can be found on cheque leaf and bank passbook of the respective bank.
- Banks and respective branch list of IFSC codes can be obtained from Reserve Bank of India’s website.
- The IFSC code of a particular bank can also be found on the banks’ official website.
Benefits of IFSC Code
Benefits of IFSC Code are :
- Helps to identify a Bank and its respective branch
- Eliminates errors in the process of fund transfer
- Transfers done with IFSC such as NEFT, RTGS and IMPS are accurate
What is MICR Code
MICR or Magnetic Ink Character Recognition Code is a 9 digit code used for faster processing of cheques. MICR number is also unique for every bank branch, hence it helps in uniquely identifying the bank and branch participating in an Electronic Clearing System (ECS). MICR Code like IFSC is a combination of 3 essential components:
- The first 3 digits represent the city code.
- The middle 3 represent the particular bank code.
- The last 3 digits represent the specific branch code
Benefits of MICR Code
Benefits of MICR Codes are:
MICR code enables efficient, quick and error-free processing of cheques. This is possible with magnetic ink, reading machines and technology used in MICR.
Difference between IFSC and MICR code
ink character recognition code (MICR) is a technology that enables faster
processing of cheques by recognizing unique characters printed on the cheque.
MICR consists of a 9 digit code. The
first three digits of the MICR code represent the city, the next three give the
bank code and the last three digits denote the branch of the bank. Similar to
an IFSC code, every branch of a bank has a specific MICR code. While IFSC is
used for online fund transactions, MICR is used for cheques.
Let’s understand the difference between IFSC and MICR