6 Points
Joined June 2016
Hi, Also i found this one to lookup any branch details in India. It seems promising, as per their official statement, they have Over 1,20,000 Records of IFSC Codes, MICR Codes of All Banks In India. These Bank Codes are Verified Manually and are Being Updated Regularly. You may want to check out MyIfscCodes.com. It also explains banking terms like ifsc code, micr code, NEFT, RTGS etc. See below;
The IFSC Code full form expands to Indian Financial System Code that is used mainly in online fund transfers in India. It is a 11 digit code that contains alpha numeric characters. These IFSC Codes are given by RBI to identify a branch of a bank uniquely. Every online fund transaction must use IFSC code in the form of National Electronic Fund Transfer(NEFT), Real Time Gross Settlement(RTGS) and Centralized Funds Management System (CFMS).
The MICR code stands for Magnetic Ink Character Recognition. Its a special printing technology used to print alpha-numeric characters that are used on cheques. These Codes are used in cheque processing, by all the banks in India.
NEFT
NEFT expands as National Electronic Fund Transfer. RBI has introduced this online money transfer system to transfer money among banks in India. It has set some limit to secure bank accounts and reduce the risk.
RTGS
The RTGS full form is Real Time Gross Settlement. This is also similar to NEFT but its main purpose is to transfer huge money among banks. Its minimum transfer amount starts at Rs.2,00,000. Respective fee is applicable, check before using it.