IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
THE BANK OF NOVA SCOTIA 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 :
THE BANK OF NOVA SCOTIA ifsc code : NOSC0000DEL is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : NOSC for Bank : THE BANK OF NOVA SCOTIA
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : 000DEL for Bank Branch DELHI
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for the bank of nova scotia 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 THE BANK OF NOVA SCOTIA : 110239002 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 110 for City : DELHI
Middle 3 digits reprents Bank Code: 239 for Bank : THE BANK OF NOVA SCOTIA
Last 3 digits represents Branch Code : 900 for Bank Branch DELHI
Some of the most polular searches for IFSC code