Details IFSC RTGS NEFT CFMS RBI MICR

Details of  IFSC RTGS NEFT CFMS RBI MICR

IFSC  - Indian Financial System Code

RTGS - Real Time Gross Settlement

NEFT -  National Electronic Funds Transfer 

CFMS - Centralized Funds Management System

MICR - Magnetic Ink Character Recognition


Indian Financial System Code (IFSC). It is used for electronic payment applications like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) and Centralized Funds Management System (CFMS) developed by Reserve Bank of India (RBI) code has eleven characters "Alpha Numeric" in nature. First four characters represent bank, fifth character is default "0" left for future use and last six characters represent branch.

MICR Code: Magnetic Ink Character Recognition as printed on cheque book to facilitate the processing of cheques.

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