The IFS Code is allotted to various branches of banks who participate in electronic funds transfer system in India. This 11 digit alpha-numeric code starts with 4 alpha code followed by 7 numeric codes. However, the 7 numberic digits may consist of some alpha code also.
When you need to send funds to someone in his account, you need to know the IFS code of his bank branch. Similarly, if someone wants to send funds into your account, you need to give the following information to him:
1. Your 12 digit bank account number of Shivalik Bank.
2. IFS Code of Shivalik Bank which is IBKL0236SMB.
At present, we are a sub-member of the Inter-bank Financial System through another bank - IDBI Bank. When you want an NEFT or RTGS in your account maintained with us, you can provide this ISC Code to the person who wishes to send NEFT or RTGS to you.
Magnetic Ink Character Recognition (MICR) Code is the number printed at the bottom of your cheque / DD leaves in a special ink which can be understood by the electronic sensors for easy and quick sorting of these instruments.
1. You are advised not to write anything on the half-inch band at the bottom of your cheque leaf or DD.
2. You should also not fold your instrument. Folded instruments cannot be processed by the sorting machine since they may cause the paper jam in the machine.
3. Please do not put any staple or rubber stamp on this band. The staple may damage the machine. The rubber stamp impression on the 1/2 inch band may confuse the scanner and may cause wrong sorting of the instrument.