IFSC Code (The Indian Financial System Code) is an alphanumeric code which is used to transfer electronic funds in India.
KERALA GRAMIN BANK KERALA 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 :
KERALA GRAMIN BANK KERALA ifsc code : KLGB0040102 is 11 digit Unique IFSC Code.
First 4 characters represents Bank Code : KLGB for Bank : KERALA GRAMIN BANK
5th character is Zero and it is reserved for future reference
Last 6 characters represents Branch Code : 040102 for Bank Branch AMBALAVAYAL
Anatomy of a Cheque
The above image represent cheque format which locates IFSC Code and MICR Code in Red Box
MICR code for kerala gramin bank kerala 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 KERALA GRAMIN BANK : 673480253 is 9 digit Unique MICR Code.
First 3 digits represents CityCode Code : 673 for City : WAYANAD
Middle 3 digits reprents Bank Code: 480 for Bank : KERALA GRAMIN BANK
Last 3 digits represents Branch Code : 025 for Bank Branch AMBALAVAYAL
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