IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
HDFC BANK SUBHADRA LOCAL AREA BANK LTD 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 SUBHADRA LOCAL AREA BANK LTD ifsc code : HDFC0CSLABK 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 : CSLABK for Bank Branch SUBHADRA LOCAL AREA BANK LTD
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 subhadra local area bank ltd 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 : 416583002 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 416 for City : KOLHAPUR
Middle 3 digits reprents Bank Code: 583 for Bank : HDFC BANK
Last 3 digits represents Branch Code : 300 for Bank Branch SUBHADRA LOCAL AREA BANK LTD
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