The IFSC is an 11-character alphanumeric code used to identify bank branches in India for electronic payment systems such as RTGS, NEFT, IMPS, and CFMS (managed by the Reserve Bank of India).
The first four characters represent the bank name.
The fifth character is always ‘0’ and is reserved for future use.
Branch Code 000505. The last six characters denote the specific bank branch.
MICR Code (Magnetic Ink Character Recognition): 110532091
The MICR code is a unique code printed on cheques using magnetic ink. It helps in the secure and faster processing and clearance of cheques by identifying the bank and branch.