IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
TEXTILE TRADERS CO OPERATIVE BANK LTD MASKATI MARKET BRANCH 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 :
TEXTILE TRADERS CO OPERATIVE BANK LTD MASKATI MARKET BRANCH ifsc code : TTCB0000002 is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : TTCB for Bank : TEXTILE TRADERS CO OPERATIVE BANK LTD
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : 000002 for Bank Branch MASKATI MARKET BRANCH
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for textile traders co operative bank ltd maskati market branch 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 TEXTILE TRADERS CO OPERATIVE BANK LTD : is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : NA for City : AHMEDABAD
Middle 3 digits reprents Bank Code: NA for Bank : TEXTILE TRADERS CO OPERATIVE BANK LTD
Last 3 digits represents Branch Code : NA for Bank Branch MASKATI MARKET BRANCH
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