IFSC stands for Indian Financial System Codewhich is mostly used in electronic payment applications like (RTGS) Real Time Gross Settlement, (NEFT) National Electronic Funds Transfer, and (IMPS) Interbank electronic instant mobile money transfer service developed by Reserve Bank of India (RBI). IFSC code consists eleven "Alpha Numeric" characters. In this characters first four characters represent bank, fifth character is default "0" and last six characters represent branch.

MICR Magnetic Ink Character Recognition whereas printed on cheque book to facilitate the processing of cheques.