IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
HDFC BANK AKHADA BALAPUR 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 AKHADA BALAPUR ifsc code : HDFC0CNUB03 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 : CNUB03 for Bank Branch NAGNATH URBAN COOP 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 akhada balapur 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 : 431850404 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 431 for City : AKHADA BALAPUR
Middle 3 digits reprents Bank Code: 850 for Bank : HDFC BANK
Last 3 digits represents Branch Code : 040 for Bank Branch NAGNATH URBAN COOP BANK LTD
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