Pandharpur Urban Co-operative bank ltd, Pandharpur Bank was established in
19th November 1912 by a group of persons committed to social cause, with a
view to providing financial needs of poor and lower class people.
Coop. movement is the backbone of rural economic development of India. The
movement struck roots in Maharashtra in the first decade of the century and
later blossomed. The conviction inspired by this plain principles
materialised as early as 1912 in the shape of a new enterprise now familiar
with all as "THE PANDHARPUR URBAN CO-OP. BANK LTD. . As usual
initially the pace of progress was slow but steady, the area of activity
was limited and the monetary base was much less than the need. Since
independence the bank with its schemes and clientele, capacity and
capability for cooperation gathered both mass and momentum. Ours are the
pioneering efforts in this filed in Solapur District. A small seed from the
movement, has grown up into a banyan tree.
enceinte town of Pandharpur is situated on the right bank of river"
BHIMA . There is a continuous flow of thousand of devotees the warkaris.
We are proud of the fact that we also are located in this very city, so
that a continuous flow of people offers us opportunity to awaken them to
their economic needs. And with the blessings of "VITHOBA . We who
opened the accounts in 1912 with 45 members and deposited of Rs.957/- only
have after Century of fruitful existence, reached a record mark of 39144
membrs,19 branches and working funds of Rs.852.34 crores.
bank is of the common man, for the common man and by the common man. We had
in view those schemes that benefited him most such as cottage industries
and small scale industries. With the introduction of 20 point programme,
the bank made more financial assistance available to the priority and
weaker sections of the society and there by strengthened its welfare
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?
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
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
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
understand the difference between IFSC and MICR
to facilitate electronic fund transfers between banks and individuals
code is to facilitate and make cheque processing more efficient.
is an 11 character alphanumeric code.
is a 9-digit code.
first four characters indicate the name of the bank.
first three digits represent the city code where the bank branch is
6 digits represent the bank branch location.
three digits indicate the code of the bank branch.