BankClan |
| Bank Name | bharat cooperative bank mumbai |
|---|---|
| IFSC Code | BCBM0000086 |
| MICR Code | 400112061 |
| Branch Code | 000086 |
| Branch | MALAD RANI SATI |
| District | GREATER MUMBAI |
| State | MAHARASHTRA |
| Address | Office No.1, First Floor, Shah Arcade Ii, Cts 502, Rani Sati Marg, Malad East, Mumbai- 400097 |
| Phone | 61890000 |
The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the two main Payment and settlement systems in India: the Real Time Gross Settlement (RTGS) and the National Electronic Fund Transfer (NEFT) systems.
The IFSC is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use. Bank IFS Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches. The format of the IFS Code is shown below.
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |
|---|---|---|---|---|---|---|---|---|---|---|
| Bank Code | 0 | Branch Code | ||||||||
MICR (Magnetic Ink Character Recognition), as name suggest it is a character recognition technology which helps in faster processing of cheques. Every bank branch is given a unique MICR code and this helps the RBI to identify the bank branch and speed up the cheque clearing process.