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Janata Sahakari Bank Ltd., Pune was established on 18th October 1949 by people committed to social cause in Pune city. The Bank has always kept the goal of helping economically weaker section of the society and has carved a place as bank of masses and not only for classes.
The bank has made steady progress in past 71+ years and under the present Board of Directors has taken leap towards progress through technology. The Banks financial status is as on 31-03-2020 is as follows:
Deposits Rs. 8904.53 crores
Advances Rs. 5253.43 crores
Share Capital Rs. 221.66 crores
Janata Sahakari Bank Ltd., Pune is making steady progress and the Shareholders, Customers, Employees and Well-wishers are integral part of this progress. Their involvement and contribution is immense. Today the bank has a wide network of 71 Branches & 2 Extension counters spread all over Maharashtra & Gujarat State.
All this progress has lead towards RBI including the bank in second schedule and from 1st.September 1988 Janata Sahakari Bank Ltd., Pune is functional as Scheduled Co-Operative Bank. As a result Bank is accepting deposits from Government and Semi-Government corporations. Similarly Government & Semi-Government corporations accept Bank’s drafts.
Our Bank has got Status of Multi - State Scheduled Bank on 29th day of March 2012. Now it is a Multi State Co-Op Bank Under Multi State Co-Op Societies Act 2002.
Our Bank has implemented CORE BANKING TECHNOLOGY in 2005, which resulted in prompt and accurate services to customers. Now customers can do the transactions from any branch through ANY BRANCH BANKING facility.
Bank provides extensive training through its own training centre to its employees from time to time for upgrading their skills for better customer service. The Training Center is also recognised by the Co-operative Department of Govt of Maharashtra. Training is also imparted to the employer of the Co-operative Banks.
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