The full form of IFSC code is Indian Financial System Code.DURGAPUR STEEL PEOPLES CO OPERATIVE BANK LTD IFSC code has 11 digits and it is a collection of number and letters.Ordinarily, The code can be found on the registration given by the DURGAPUR STEEL PEOPLES CO OPERATIVE BANK LTD . we find IFSC code on the first page of our bank passbook and also our bank cheque.
we use IFSC code for transfer money online it means wire transfer like NEFT, IMPS, or RTGS etc.ex. if you want to give money to your friend without going to a bank you can transfer it by using IFSC code of your friend bank account. every bank's branches have there owned IFSC code and its give by RBI(Reserve Bank of India).every bank's branches have there owned IFSC code and its give by RBI(Reserve Bank of India).
DURGAPUR STEEL PEOPLES CO OPERATIVE BANK LTD IFSC Code comprises of 11 Characters: (ex. AAAA0010576).
MICR code means Magnetic Ink Character Recognition.MICR code use for bank cheques clearance.it uses to verify cheques for clearance in a secure and faster way. MICR code works like a barcode but it is better than bar code because it can be read by humans.
DURGAPUR STEEL PEOPLES CO OPERATIVE BANK LTD MICR code have night digit code : (ex. 600211005).
MICR code is a result of very propelled Character Recognition Technology (CRT) utilized by banks to confirm checks for free. MICR innovation is utilized for other bank archives too. A MICR code is set at the base of a check. It incorporates subtle elements such as the bank code, account points of interest, sum, and check number, nearby a control pointer. The greatest preferred standpoint of MICR innovation is that it emerges among comparative ideas, for example, scanner tags, as MICR can be perused and recognized by people effectively.
How about we accumulate an unmistakable comprehension of both and figure out how they vary from each other-
|It is utilized to encourage electronic cash exchange between the banks in India.||It is utilized to encourage electronic cash exchange between the banks in India.|
|It is a 11-digit alpha-numeric code.||MICR is a 9-digit code.|
|The initial four characters show the name of the bank.||The initial three digits speak to the city code where the bank office is found.|
|Last 6 digits speak to the bank area||Last three digits demonstrate the bank office code.|