IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
PRATHAMA 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 :
PRATHAMA BANK ifsc code : PRTH0011009 is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : PRTH for Bank : PRATHAMA BANK
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : 011009 for Bank Branch AGHWANPUR
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for prathama 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 PRATHAMA BANK : 244843051 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 244 for City : MORADABAD
Middle 3 digits reprents Bank Code: 843 for Bank : PRATHAMA BANK
Last 3 digits represents Branch Code : 305 for Bank Branch AGHWANPUR
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