IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
HDFC BANK SADHANA SAHAKARI BANK LTD HADAPSAR 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 :
HDFC BANK SADHANA SAHAKARI BANK LTD HADAPSAR ifsc code : HDFC0CSBL02 is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : HDFC for Bank : HDFC BANK
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : CSBL02 for Bank Branch SADHANA SAHAKARI BANK LTD HADAPSAR
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for hdfc bank sadhana sahakari bank ltd hadapsar 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 HDFC BANK : 411174310 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 411 for City : PUNE
Middle 3 digits reprents Bank Code: 174 for Bank : HDFC BANK
Last 3 digits represents Branch Code : 431 for Bank Branch SADHANA SAHAKARI BANK LTD HADAPSAR
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