IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
NAGAR URBAN CO OPERATIVE BANK 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 :
NAGAR URBAN CO OPERATIVE BANK ifsc code : NUCB0000101 is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : NUCB for Bank : NAGAR URBAN CO OPERATIVE BANK
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : 000101 for Bank Branch SANGAMNER
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for nagar urban co operative bank 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 NAGAR URBAN CO OPERATIVE BANK : 422803201 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 422 for City : SANGAMNER
Middle 3 digits reprents Bank Code: 803 for Bank : NAGAR URBAN CO OPERATIVE BANK
Last 3 digits represents Branch Code : 320 for Bank Branch SANGAMNER
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