LAXMI VILAS BANK RTGS HO Branch in CHENNAI - Address, IFSC, MICR Code
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What is IFSC Code of LAXMI VILAS BANK situated at ROYAPURAM EXTENSION- RTGS-HO?
IFSC Code of LAXMI VILAS BANK situated at ROYAPURAM EXTENSION - RTGS-HO is
What is the meaning of IFSC Code, MICR Codes in Banking industry?
IFSC or Indian Financial System Code is the code allocated to all banks branches. Bank branches use this code to participate in RTGS and NEFT transactions.
What is the significance of IFSC Code and how we can use it?
IFSC Code is a 11 digit code and we can use this code to communicate between different branches of different banks. Upon receiving the request for fund transfer it is easy for a bank to identify the payee branch. First four characters are code of bank, last six digits are branch code and fifth character is left 0, for any future use.