IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
KOTAK MAHINDRA BANK LIMITED NEW DELHI 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 :
KOTAK MAHINDRA BANK LIMITED NEW DELHI ifsc code : KKBK0000199 is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : KKBK for Bank : KOTAK MAHINDRA BANK LIMITED
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : 000199 for Bank Branch DELHI TILAK NAGAR
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for kotak mahindra bank limited new delhi 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 KOTAK MAHINDRA BANK LIMITED : 110485028 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 110 for City : NEW DELHI
Middle 3 digits reprents Bank Code: 485 for Bank : KOTAK MAHINDRA BANK LIMITED
Last 3 digits represents Branch Code : 502 for Bank Branch DELHI TILAK NAGAR
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