LOCATE ANY BANK BRANCH IN INDIA
BANK’S - ABOUT
CTBC Bank is a leading financial
services group in Asia and is Ranked #1 most valuable brand in Taiwan’s
financial industry. The Bank was named the Best Retail Bank in Asia Pacific for
2019 by the Asian Banker. CTBC Bank has a high credit rating of ‘A’/ ‘A’/ ‘A2’
by S&P/ Fitch / Moody’s and has comprehensive overseas network with over
260 service outlets in 14 countries and 152 branches in Taiwan (branches,
subsidiaries and their branches, and representative offices), in America,
Canada, Japan, India, Indonesia, the Philippines, Thailand, Vietnam, Hong Kong,
Singapore and mainland China. The Bank has been actively expanding into
overseas markets and focuses on building a complete cross-border financial service
platform. The Indian operations benefit from a strong product franchise and
legacy of CTBC Group, which was founded in 1966.
CTBC Bank had established its first branch in New Delhi in April 1996 and had opened its second branch in Sriperumbudur (Chennai) in June 2012. It is the first and only Taiwanese Bank in India which has completed more than twenty four years of successful operation. The Bank mainly provides banking services to corporate customers through a bouquet of products comprising wholesale lending and deposits, trade finance solutions, cross-border businesses, among others. The Bank is also licensed as an Authorised Dealer Category 1 bank by the Reserve Bank of India and can provide foreign currency products and services ,as per regulations, to its customers.
CTBC Bank is committed to support the domestic and international businesses in India through tailor made, innovative products and services. CTBC Bank will continue to stand by its brand spirit "We are family". It will also adhere to its mission "protect and build" and core values of caring, professional, and trustworthy while providing customers with a complete variety of convenient services.
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