IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
MUFG BANK, LTD ifsc code is a Unique code which identifies each bank branch. The main purpose of IFSC Code is to participate each bank branch in the two main
payment and settlement systems in India.
1) RTGS : Real Time Gross Settlement
2) NEFT : National Electronic Fund Transfer
For Example :
MUFG BANK, LTD ifsc code : BOTM0BL3626 is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : BOTM for Bank : MUFG BANK, LTD
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : BL3626 for Bank Branch BANGALORE
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for mufg bank, ltd represents Magnetic Ink Character Recognition technology which is printed on cheques. This MICR Code is used for the identification of the cheques for faster processing.
MICR Code is a Unique code which identifies each bank branch. The main purpose of MICR Code is to participate each bank branch in an Electronic Clearing System (ECS).
MICR Code for MUFG BANK, LTD : 560033002 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 560 for City : BANGALORE
Middle 3 digits reprents Bank Code: 033 for Bank : MUFG BANK, LTD
Last 3 digits represents Branch Code : 300 for Bank Branch BANGALORE
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