IFSC stands for Indian Financial System Code. It is a unique code that helps identify bank branches during electronic funds settlement. It contains 4 alphabetical characters (to denote the bank branch), followed by a zero (0) further followed by 6 numbers. It is used for inter- bank electronic funds settlement. The codes for each bank branch can be found on the RBI's official website or at https://www.bankbazaar.com/ifsc-code.H T M L.
MICR stands for Magnetic Ink Character Recognition which identifies the bank and branch while processing cheques. MICR is printed with special magnetic ink and is identified by a special machine.
BSR, in 'BSR code', stands for Basic Statistical Return code. It helps the Income Tax department to, uniquely, identify the bank that collects the taxes when people file their taxes online.
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