LOCATE ANY BANK BRANCH IN INDIA
· 1. To Put ATM In Branches
· 2. To Achieve Business Of Rs. 1500 Crores.
· 3. To Strive Excellence In Customer Service
· 4. To Adopt Professional Approach In Effectively Managing Financials As Well Non Financial Risks.
· 5. Focusing On Low Cost Deposit (CASA) And Fee Based Income
· 6. To Open New Branches Across Palghar District.
· 7. To Launch Mobile Banking And Internet Banking Application.
· Vasai Janata Sahakari Bank Ltd (VJSBL) established in 1973 under the Co.operative Bank Act after receipt of license from Reserve Bank of India (RBI) by dedicated people to public cause in Vasai.
· The growth and progress of the Bank is steady over the years & having strong financials. The Bank is functioning at par on most of the parameters, that of the big Commercial/Private Banks viz CBS, RTGS, Personalized Cheque Books, SMS Banking, ATM Cards being swiped all over India & so on
· VJSBL has grown steadily since 1996. VJSBL has now 13 branches from Dahisar (Mumbai) to Palghar all branches are situated across Western Railway. In addition to this, Bank owns, its Data Center in Bhayander (East)
· Bank has as of 31/3/2019, Deposits Rs.745 crores and Advances of Rs.384 crores. Bank has around 19000+ shareholders. The Bank always endeavours to be at par with the banking sector
· The trust & patronage of the Customers, Shareholders & Well Wishers is believed to be behind the Journey
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