IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
YES BANK PIMPALGAON 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 :
YES BANK PIMPALGAON ifsc code : YESB0VMCB05 is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : YESB for Bank : YES BANK
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : VMCB05 for Bank Branch VAIJAPUR MERCHANTS BANK PIMPALGAON
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for yes bank pimpalgaon 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 YES BANK : 422814501 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 422 for City : PIMPALGAON
Middle 3 digits reprents Bank Code: 814 for Bank : YES BANK
Last 3 digits represents Branch Code : 450 for Bank Branch VAIJAPUR MERCHANTS BANK PIMPALGAON
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