SearchPinCode IFSC

Guide to IFSC, NEFT, RTGS, IMPS & UPI in India

The Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) operate four major electronic fund transfer systems. Here is how they compare:

Feature NEFT RTGS IMPS UPI
Full Form National Electronic Funds Transfer Real Time Gross Settlement Immediate Payment Service Unified Payments Interface
Managed By RBI RBI NPCI NPCI
Requires IFSC? Yes (Mandatory) Yes (Mandatory) Yes (with Account No.) Optional (Required for Account+IFSC transfer)
Minimum Transfer ₹1 ₹2,00,000 ₹1 ₹1
Maximum Transfer No RBI upper limit No RBI upper limit Up to ₹5,00,000 ₹1,00,000 (Up to ₹5L for tax/hospital/IPO)
Settlement Speed Half-hourly batches (24×7×365) Instant / Real-time (24×7×365) Instant / Real-time (24×7×365) Instant / Real-time (24×7×365)

Difference Between IFSC Code and MICR Code

Parameter IFSC Code MICR Code
Length & Format 11 alphanumeric characters (e.g., SBIN0000300) 9 numeric digits (e.g., 400002000)
Primary Purpose Online fund transfers via NEFT, RTGS, and IMPS Physical cheque clearing via magnetic ink readers (ECS / CTS)
Structure Breakdown First 4 = Bank Code, 5th = 0, Last 6 = Branch Code First 3 = City PIN prefix, Middle 3 = Bank Code, Last 3 = Branch Code

Locate IFSC and MICR Code on an Indian Bank Cheque Leaf

Use the visual CTS-2010 cheque leaf diagram below to identify where the 11-character IFSC code and 9-digit MICR code are printed:

STATE BANK OF INDIA
Branch: Mumbai Main Branch
Mumbai Samachar Marg, Horniman Circle, Fort, Mumbai, Maharashtra - 400001
1 RTGS / NEFT IFSC CODE : SBIN0000300
VALID FOR 3 MONTHS ONLY
CTS-2010
2 "048291" 6-Digit Cheque No.
3 400002056: 9-Digit MICR Code (City 400 + Bank + Branch)
004512" Account ID
31 Tx Code
1
11-Character IFSC Code (SBIN0000300)

Printed at the top-left of the cheque leaf below the branch address. Required for all NEFT, RTGS, and IMPS online fund transfers.

2
6-Digit Cheque Number (048291)

The first 6 digits printed in magnetic ink at the bottom-left of the cheque leaf identify the unique leaf number.

3
9-Digit MICR Code (400002056)

Printed next to the cheque number on the bottom white strip: first 3 digits = City PIN prefix (400), middle 3 = Bank code, last 3 = Branch code.

Merged PSU Banks — Old vs. New IFSC Code Prefix Reference

Following the Government of India and RBI consolidation of Public Sector Banks, old IFSC codes of amalgamated banks were replaced by new IFSC prefixes under their anchor banks:

Ersthwhile (Merged) Bank Old IFSC Prefix Anchor Bank New IFSC Prefix Effective Date Migration Details
Syndicate Bank SYNB Canara Bank CNRB 1 July 2021 SYNB000XXXX changed to CNRB001XXXX (10,000 added to old 4-digit branch code in most cases).
Allahabad Bank ALLA Indian Bank IDIB 15 February 2021 All old ALLA0XXXXXX IFSC codes migrated to new IDIB0XXXXXX codes.
Andhra Bank ANDB Union Bank of India UBIN 1 April 2021 Old ANDB0XXXXXX codes replaced with UBIN08XXXXX series.
Corporation Bank CORP Union Bank of India UBIN 1 April 2021 Old CORP0XXXXXX codes replaced with UBIN09XXXXX series.
Oriental Bank of Commerce (OBC) ORBC Punjab National Bank PUNB 1 April 2021 Old ORBC0XXXXXX codes migrated to new PUNB0XXXXXX IFSC codes.
United Bank of India UTBI Punjab National Bank PUNB 1 April 2021 Old UTBI0XXXXXX codes migrated to new PUNB0XXXXXX IFSC codes.
Dena Bank BKDN Bank of Baroda BARB 1 March 2021 Old BKDN0XXXXXX codes replaced with BARB0DBXXXX series.
Vijaya Bank VIJB Bank of Baroda BARB 1 March 2021 Old VIJB0XXXXXX codes replaced with BARB0VJXXXX series.
State Bank Associates (SBBJ, SBHY, SBMY, STBP, SBTR) SBBJ / SBHY / SBMY / STBP / SBTR State Bank of India SBIN 1 April 2017 All 5 associate banks and Bharatiya Mahila Bank merged into SBIN00XXXXX.
Lakshmi Vilas Bank LAVB DBS Bank India Limited DBSS 27 November 2020 Amalgamated with DBS Bank India Limited (DBSS0INXXXX).

How to Register a Beneficiary & Transfer Money Using IFSC Code

  1. Log in to NetBanking or Mobile Banking: Open your bank's official internet banking portal or mobile banking application.
  2. Navigate to Fund Transfer → Manage / Add Beneficiary: Select Third-Party / Other Bank Payee registration.
  3. Enter Beneficiary Account Details: Input the payee's full name, bank account number (twice to confirm), and account type (Savings / Current).
  4. Enter the 11-Character IFSC Code: Enter the verified 11-character IFSC code (e.g., SBIN0000300)—ensure the 5th character is the digit 0 (zero). Your banking app will automatically display the verified Bank & Branch Name.
  5. Choose Transfer Mode (IMPS / NEFT / RTGS): Once activated via OTP, select IMPS for instant transfers up to ₹5 Lakh, NEFT for 24×7 transfers of any amount, or RTGS for high-value instant settlements of ₹2 Lakh and above.