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the urban co operative bank ltd no one seven five eight perinthalmanna has branches in 1 States
KERALA |Origin
of Bank’s
The Urban Cooperative Bank Ltd.
Bareilly
established in year 1996 and registered under UP Cooperative Society act 1965.
Since its establishment , this bank has served the needsof lakhs of customers
across Bareilly and nearby districts. Bank has come a long way since its
beginning as a single branch bank to the 10 branch bank spread across three
districts of UP namely Bareilly, Pilibhit and Shahjahanpur. With its unique
feature of providing 365 days with extended hours of banking services, it has
become quite popular among its customers. What makes our bank different from
others is its customer friendly policies and relationship banking. Taking one
more step forward, bank has strongly shown its presence on digital banking
platform by providing mobile banking, POS/Ecomm, Debit card, NACH, Adhaar based
payment, NEFT/RTGS facility to its valuable customers. Bank is providing free
accidental insurance coverage to all its customers including shareholders since
its inception.
Over the
Bank has been fortunate in having the guidance of our Chief Promoter Mr.
Santosh Kumar Gangwar, the honorable Minister of state for Ministry of Labour
& employment , government of India and hope that it will continue to
flourish under his leadership and directions.
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
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