LOCATE ANY BANK BRANCH IN INDIA
About
Bank’s
Haryana State Cooperative Apex
Bank Limited (HARCO
BANK) occupies a vital position in the State economy and has been financing
farmers, rural artisans agricultural labourers, entrepreneurs etc. in the State
and serving its depositors for the last 49 years. The Short Term Coop. Credit
Structure consists of three tiers i.e. HARCO BANK at State Level having 13
branches and two Extension Counters at Chandigarh and Panchkula. 19 Central
Coop.Banks at district head quarters with their 594 branches and 718 PACS
catering to the financial needs of 31.26 lacs members who are residing mostly
in rural areas of Haryana.The HARCOBANK from the humble beginning in November,
1966 has grown into a sound financing institution of outstanding credit
worthiness. The performance of HARCO BANK has been adjudged as the best State
Cooperative Bank in the country.It has working capital of Rs.7741.49 as on
31.12.2015.
The Haryana State Cooperative Apex Bank
Ltd. commonly called as HARCOBANK occupies a vital position in the economy
of Haryana State and has been financing farmers, rural artisans, agricultural
labourers, entrepreneurs, etc. in the State and serving its depositors for the
last 47 years.Haryana State Co-Operative Apex Bank Ltd;(HSCB) has been
preparing Development Action Plans (DAPs) in accordance with the guidelines
issued by NABARD.The basic objective of this excersice is to identify the
reasons standing in the way of the viability of the bank. The Short Term
Cooperative Credit Structure consists of three tiers:
|
State
Level |
13
branches and 2 extension counters at Chandigarh and Panchkula. |
|
District
Level |
19
Central Cooperative Banks with their 594 barnches working in the length and
breadth of the State. |
|
Patwar-Circle
Level |
718 PACS
(Mini Banks) catering to the financial needs of 30.53 lacs members who are
residing, mostly, in the rural areas of Haryana. |
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
Magnetic
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
|
