LOCATE ANY BANK BRANCH IN INDIA
The development, progress & success of any organization depends upon the group of dedicated workers involved in the organization. A commercial organization is not an exception to this view. The Jalgaon Janata Sahakari Bank is proud of its team of dedicated selfless workers, each one of the team is successful in his personal as well as professional life, still devoting much time in the building of the organization.Success of any organization is to be measured by the height achieved, but more important is the obstacles that it has overcome.Profit-making is the aim of any commercial organization like bank. Earning profit will build huge wealth, property & prosperity. But it is great belief of everyone of us that: "Carve the names on the heart of common man instead of carving names on marble". Social obligation must be met out, through different means, the bank can be one of them.In a sense the Bank is a social movement, wealth acquired with great efforts is used for the needy & deserving people. organizational work of ours is like a big tree having various branches, each branch equally strong on solid footing having universal blood group. Everyone can experience & enjoy the shadow of this big tree.
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