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IFSC and MICR Codes Directory

List of IFSC code, MICR code and addresses of all bank branches in India. Find verified IFSC codes quickly to use for NEFT, RTGS & IMPS transactions.

Locate any details of Bank branch in India.

or Browse IFSC codes from Banks Listed Below

What is Indian Financial System Code (IFSC)?

IFSC, short for Indian Financial System Code, is simplifying modern banking from what was once a purely paper based system. From challans to net banking, from long queues at the teller’s to fund transfers in mere minutes, banking today is an amalgamation of various helpful technologies and accountable yet simplified procedures that is far removed from the traditional systems of old. In this regard, the concept of IFSC Codes, at least in the context of Indian banking, is absolutely the simplest, yet most path breaking update in recent times. Indian Financial System Code (IFSC) is fundamentally important when it comes to online money transfers, ergo, it plays a key role in almost every India based financial transaction happening over the limitless expanse of the World Wide Web today.

Check IFSC Code for Top Banks:

State Bank of India HDFC Bank Indian Bank
Axis bank Canara bank ICICI Bank
IFSC: Indian Financial System Code

What Does IFSC Stand For?

IFSC is short for Indian Financial System Code and represents the 11 digit character that you can usually see on your bank’s cheque leaves, or other bank sponsored material. This 11 character code helps identify the individual bank branches that participate in the various online money transfer options like NEFT and RTGS.

Why do we need the Indian Financial System Code?

In simple terms, IFSC, short for Indian Financial System Code, is an alphanumeric code that is used to identify the particular branch of a participating bank in either of the popular electronic funds settlement options in India, namely RTGS and NEFT. The standard IFSC Code is a 11 character entity, with the first four characters representing the bank’s name, the fifth character is ‘0’ (Zero) and is reserved for future use, with the final six numeric/alphabetic characters represent the specific branch of the bank. This code is crucial when monies are transferred online from one bank to another across the length of India, as it helps the proper identification of the bank branches involved and avoids costly and time consuming mistakes.

Format for Bank IFSC Code:

1 2 3 4 5 6 7 8 9 10 11
Code for Bank Name 0 Code for Branch Name

Modes of Online Money Transfer Using IFSC Code

Types of Online Fund Transfer in India

IFSC Codes play an important role when money is transferred from one account to another through methods such as IMPS, NEFT and RTGS. All these options are fundamentally concerned with inter-bank money transfer but perform this task in different ways. The common thread amongst these varied options is the bank IFSC codes system- the hypothetical plaque that identifies a bank branch as a confirmation to the incoming monies that the same has been routed to the correct destination. Compare this to a cattle rancher and his/her massive flock of cattle. Without a branding system, identifying individual members of the herd and accounting for all of them will be next to impossible.

What is MICR?

The full form of MICR is Magnetic Ink Character Recognition technology. The primary need for this innovation is to authenticate the originality and legality of paper based documents in the banking system and is majorly used on cheques. In terms of their real-world importance, MICR stands on par with IFSC where transfer of funds using NEFT or IMPS is concerned.

MICR code imbibes the cutting-edge character recognition technology that is used by banks to authenticate the clearance of cheques and other such documents. MICR code itself can be seen placed on the bottom strip of the cheque and includes such details as the bank code, account details, cheque number and amount, alongside a control indicator. The principal advantage of this system is that unlike similar concepts like barcodes, MICR can be easily distinguished and read by humans.

Abbreviation of Indian Financial System Code, is a code that is used to identify all participating banks under the NEFT system. It is basically 11 digit alphanumeric code that is different for each bank and its affiliated branch.

  • IFSC Code

    Of the 11 digits in an IFS Code, the first four characters identify the bank branch, the fifth character remains a zero by default, while the remaining 6 characters represent a particular bank branch.

    For example, let’s take the code: SBIN0005778. Going by the code and running a quick search on google, we can deduce that this IFSC code is addressing State Bank of India branch located in Mahatma Road, Bangalore.

  • MICR Code

    MICR stands for Magnetic Ink Character Recognition. This code can be seen in all cheques and can be located at the bottom of every check. The reason for introducing MICR code was to enhance and improve security with regard to transactions. It is basically a 9 digit number.

    Of the 9 digits on an MICR Code, the first three digits represent the city, the next three signifies the bank, while the last three specifies the bank branch. This code is written in magnetic ink and can be identified using magnetic scanners.

    Here’s an example of what an MICR code might look like: 560002033

    In this example, 560 represents the city, which, in this case is Bangalore. The next three digits 002 is the bank code, while the last three digits, 033 is the branch code.

    To sum it up, we can safely say that while both IFSC and MICR codes help serve the same agenda, they also reduce the clout that can often derail a massive banking system such as the one India has.

IFSC codes are the basic unit of any online inter-bank money transfers in India and the surefire way to validate all such transactions. With the correct knowledge of IFSC codes, sending and receiving money online becomes simple and fast, as intended. Many resources are available online that help you find IFSC code for the particular requested bank. And let’s face it- you are only likely to check upon the same when affecting an online transaction. In the similar vein, BankBazaar offers a comprehensive tool to help you indulge in a speedy and accurate IFSC Code search. How to access and utilize this tool? Read on…

  1. You are already on this page as you read these instructions, scroll to the top of this page.
  2. Spread before you is a simple ‘IFSC and MICR Codes Directory’, a versatile tool to help you locate IFSC Code as required. The tool comprises of the following fields- 1) Select Bank, 2) Select State, 3) Select District, and 4) Select Branch.
  3. Kindly make the appropriate selections with regards to the name of the bank, Indian state where the bank’s branch exists, the specific district of the state and finally, the concerned branch.
  4. In response to your query, the resultant page lists out the bank’s IFSC Code, MICR Code, official address and phone number. All this happens in less than 30 seconds from your initial query.

As has been noted before, wherever there is transfer of monies through the online media in India, the principle of bank IFSC codes is definitely part of the play. Some of the popular online money transfer systems that utilize IFSC codes at the operational level include NEFT, RTGS and IMPS.

The full form of NEFT is National Electronic Fund Transfer and quite as the name specifies, it concerns with the transfer of funds from one bank account onto another. This is a popular money transfer system in India that is equally popular amongst individuals as well as the corporate houses. Herein, IFSC codes must be suitably provided to ensure that money is accountably transferred from one bank account to another.

RTGS is acronym for Real Time Gross Settlement and as the name suggests, is a popular option for the speedy transfer of funds (also securities) from one bank to another, without subjecting the same to any waiting period. The operative words here are ‘Real Time’ (transactions happen instantaneously) and ‘Gross’ (refers to the fact that the monies aren’t subject to any deductions and/or expenditures). Herein again, IFSC codes act in a similar way as in the case of NEFT- helping to correctly identify the participating bank branches.

The Superman of the online money transfers world, IMPS, short for Immediate Payment Service is a relatively new option in India (founded, November 2010). The USP of this service is that money can be transferred instantly, 24x7 and across all popular Indian banks, through the service available on the subscriber’s mobile phone, ATM or through the internet. This system is reputed for being very safe, fast, economical and not restricted in terms of the maximum amount that can be transferred.

If you know your way around banking transactions, you are already aware that there are two main forms of fund transfer.

  1. The old-fashioned physical way, wherein you walk into the bank and remit the cheque at the teller’s cubicle.
  2. The electronic way using methods such as NEFT or RTGS.

When you are dealing with the old-school ‘going-to-the-bank’ way, you don’t have the need to register a beneficiary. But the electronic method is a bit different and a lot more secure too.

So, how do you go about transferring funds to an individual, who has explicitly requested you to transfer funds with the help of technology?

Well, don’t fret over the details if you don’t already know it because you will learn all that you need to in this page.

To do that though, you need to meet a few requirements. They are:

  • You need to be registered for your bank’s net banking service.
  • You need to register for third-party transactions. (Note that, in this context, third-party refers to a beneficiary from a different bank to that of yours.)
  • You need to register the beneficiary’s account to which you want to transfer funds.

Registering a Third Party Beneficiary:

Nearly every bank in India follows its own policy with regards to a third party money transfer. One thing worth noting here is that the process remains more or less the same except that they are phrased a bit differently.

For example, let’s take a look at how HDFC Bank procedure. The steps involved are:

  • Logging to the bank’s net banking service with customer ID and PIN.
  • Clicking on ‘Third Party Transfer’ tab and following the basic instructions.
  • Getting an OTP once the details are filled out. You will receive the OTP on your registered mobile number.

Here’s how to register the beneficiary’s account:

  • Name of the beneficiary.
  • Account number.
  • IFSC code of the beneficiary’s bank.
  • Bank branch.

Once you have submitted the details, your registration is complete. However, what you should know is different bank has different time periods after which you can make your first transfer. For instance, in HDFC Bank’s case it takes 12 hours for the details to check out and get active.

There you have it. Registering a beneficiary’s account is a cakewalk as long as you possess the basic computer literacy. Besides, registering them is highly beneficial for you as it saves a trip to your local bank branch.

Transferring money electronically with the help of IFSC code isn’t as hard as it seems. In reality, it’s quite simple once you have set it up. In this page, we will deal with transferring money through various modes with the help of IFSC Code.

  1. Through an app:
  2. Smartphone apps are literally everywhere these days. Want food, order it through an app and you will get your delivery within a few minutes. Want groceries, order them through an app and have them delivered within the same day. This way, our day-to-day life has integrated itself with apps and you can use one to transfer funds to a beneficiary.

    Here’s how you can do it in a few basic steps. To do this however, you need to have your net banking system activated for your account.

    • Download the net banking application of your bank. It can be found in Google Play Store or any other app stores in other OS-based phones.
    • Open the app, enter the credentials like your customer ID and password to gain access to your account.
    • Now choose ‘Transfer funds through NEFT’. In case, you haven’t already added the beneficiary, you should register them for future transactions. To do this, you will need to type in the IFSC code, bank account number, and the bank branch. Once you are done submitting this form, it take anywhere between 5 minutes to 12 hours, depending on your bank’s policy for the beneficiary account to be activated. After waiting for the stipulated hours, you can now instantly transfer money to a different account with a buffer of less than an hour.
  3. Through SMS:

    That thing you thought was obsolete can actually help you transfer money if you have the IFSC code. Here’s how you can do so with an SMS.

    To be able to do this though, you need to have registered your phone number for mobile banking by linking it to your bank account. If you are registering for the first time, you need to fill a form after which you will receive a starter’s kit which will include an MMID (a unique 7 digit number) and mPin. This kit you receive is similar to the one you get with your debit card.

    Sending the money through this is quite simple. First you need to compose an SMS and type in IMPS, followed by the beneficiary’s account number, IFSC, and the amount you want to send. After confirming the transaction, you will receive a message wherein you have to type in your mPin. Press okay after entering the pin and you will have successfully transferred the money.

    These are the two of the simplest ways through which you can electronically transfer money with the help of an IFSC code.

Unified Payment Interface (UPI) is basically a new payment architecture introduced by Reserve Bank of India under the leadership of former governor Raghuram Rajan along with support from tech scion Nandan Nilekani. In short, UPI is being referred to as a next-generation payment method which is expected to leverage the growing power of smart phone technology and the proportionate rise of smart phone users in the country. It enables making money transactions between any two bank accounts with the help of a smart phone. While the UPI payment method allows payments through online and offline, like net banking and card swipes, it is a lot more seamless and sophisticated at the same time.

A lot of the above discussions have centered on the common bank cheque. This mainstay of the banking world is an amalgamation of a number of components that help to authenticate its genuinity and allow us to attach our complete faith in its applicability. The primary components of a typical bank cheque are illustrated as follows,

Find IFSC Code in a Bank Cheque: On a typical bank cheque, the IFSC code is compulsorily listed though the location of the same on the cheque leaf will differ from bank to bank.
In our example image: we are displaying the location of the IFSC code on a HDFC Cheque.

Locating Cheque Number: Displayed in a typewritten font at the bottom of the cheque in special font style. This is primarily used for tracking the cheque and for other administrative purposes.

Find MICR Code in a Bank Cheque: This is displayed next to the cheque number on cheques offered by all banks in India.

Both Cheque number and MICR Code are displayed in a unique font and ink, and the latter can only be picked up by a Magnetic Character Ink Reader.

  • What is the full form of IFSC?

    The full form of IFSC is Indian Financial System Code.

  • Why is IFSC used?

    IFSC or Indian Financial System Code is an alphanumeric code that is used to identify a bank branch. It is required to transfer money from one bank account to another using electronic fund transfer modes such as NEFT, IMPS and RTGS.

  • Can anyone misuse my bank account number?

    No, it is not possible for anyone to misuse your bank account just through the bank account number.

  • How to search for bank name by IFSC code?

    It is very easy to find the bank name using IFSC code. The first four characters of IFSC code represents the bank name. So, if the bank name is ICICI, then the IFSC code will look something like ICIC0001420.

  • What is the meaning of MICR code?

    MICR stands for Magnetic Ink Character Recognition. It is a special ink that is sensitive to magnetic fields. It is printed on the bottom of a cheque.

  • What is the use of MICR code?

    MICR is a technology that helps in verifying the originality of cheques or other paper documents. It is used mainly by banks to process cheques faster. The MICR code helps RBI in identifying the bank branch.

  • How to transfer money from one bank account to another online?

    You can transfer money from one bank to another online in the following ways:

    NEFT – You can login to your net banking account or bank’s mobile application and transfer funds to another bank account using NEFT (National Electronic Funds Transfer). NEFT transfers take place in hourly batches. To transfer funds using NEFT, you have to first add the receiver as a payee in your account. You can do so using the ‘Add Payee’ option. To add a payee, you need to know the name and bank account number of the receiver. You have to also know the IFSC code of the receiver’s bank.

    RTGS – It stands for Real Time Gross Settlement. You can use this facility in the same way you transfer money using NEFT, but here the money will be transferred on a real time and gross basis. After logging in to your net banking account or bank mobile application, select RTGS instead of NEFT while transferring funds. The minimum amount of money that you can transfer using RTGS is Rs.2 Lakhs and the maximum amount that you can transfer is Rs.10 Lakhs per day.

    IMPS – It stands for Immediate Payment Service. Using this service, you can transfer funds instantly from one account to another using mobile phone. You can also use this service via net banking. Here, you can transfer money using MMID/ Bank Account number and IFSC code of the receiver.

    UPI – UPI stands for Unified Payment Interface. It allows you to transfer money using a Virtual Payment Address (VPA). To transfer money using UPI, you need a smartphone with the UPI enabled mobile application of your bank or BHIM app downloaded on it. You do not need to know the bank details of the receiver. You will only need his/her VPA or mobile number. If the receiver has a non-UPI account, then you can transfer money on the BHIM app using his/her bank account number and IFSC code.

  • Are IFSC and SWIFT code same?

    No, IFSC and SWIFT code are not the same. IFSC is used for transferring funds within India while SWIFT code is used for transferring funds at an international level. IFSC stands for Indian Financial System Code and SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. SWIFT is a bank identifier code and IFSC is used to identify a specific bank branch. IFSC code consists of 11 characters and SWIFT code consists of 8/11 characters. 8 character SWIFT code is used for identifying the primary office.

  • If a bank branch is changed, will the IFSC code change?

    No, if the location of a bank’s branch is changed, then the IFSC code will not change. If the bank account is shifted from one branch of the bank to another, then yes the IFSC code will change.

  • Is IFSC code same as branch code?

    No, IFSC code is not the same as branch code. IFSC code has 11 characters out of which the last 6 characters is the branch code. A branch code is a number that is a part of the IFSC code and is used for identify a bank branch. IFSC code can be used to transfer money using various electronic payment modes. You cannot transfer funds using just the branch code.

  • What happens if IFSC code is wrong?

    If you enter the wrong IFSC code while transferring funds, then it is very likely that the transaction will fail and the money will be credited bank into your account.

  • Where is IFSC code on cheque book?

    IFSC code is generally present on the top part of every cheque leaf or near the branch address.

  • Is IFSC code required for IMPS?

    IFSC code is required for IMPS only if you are transferring money using bank account number and IFSC code and not through MMID. If you do not have the receiver’s MMID, then you have to add him/her as a payee, for which you will need his/her details such as bank account number, name and IFSC.

  • How to find out MICR code on cheque?

    MICR code is printed on the bottom part of every cheque leaf.

  • Is IFSC code unique?

    Yes, IFSC code is a unique alphanumeric code.

  • What are the timings for NEFT?

    As per RBI, NEFT is available from Monday to Friday from 8 AM to 7 PM. On Saturdays, the service is available from 8 AM to 1 PM. It is not available on the 2nd and 4th Saturday.

  • Is it possible to determine the IFSC code of a bank’s branch from the savings bank account number hosted in the same bank?

    No. The usually 15 digits long savings bank account number doesn’t include the bank’s IFSC code. This code can easily be obtained from a cheque leaf (refer the image in an earlier section), or checking out the BankBazaar IFSC Code Finder from top of this page.

  • I think I have supplied the wrong IFSC code when affecting a NEFT funds transfer. What will happen to my money?

    Don’t worry. In order for a NEFT transaction to go through and benefit the intended recipient, you need the latter’s account number and the corresponding bank’s IFSC code. However, if you err and supply the wrong IFSC code, the system with tally against the recipient's name and account number to identify the mistake and refund back your money. The refund should safely arrive in your account in a couple of hours at the maximum.

  • Can I access the IFSC code from my bank pass book?

    Yes. And this is a directive from the Reserve Bank of India (RBI) actually. It is a must that banks print the associated MICR and IFSC codes prominently on the pass books, account statements and cheques as issued by them. You can easily find these details, printed prominently, in the aforementioned documents.

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    • How to make payments in diferent ways?

      Credit cards are not the only way to make payments. If you are a person who is not comfortable in using a credit card because you might run into debt, there are other payment methods that will help you. Following the demonetization in India, many digital wallets started coming up in the market. The digital wallets allow you to recharge a certain amount from your debit or credit card, you can use these digital wallets to make and receive payments. Additionally, many banks offer pre-paid card. These pre-paid cards function just like the credit cards but give you an advantage of using your own money that you have instead of relying on a credit card. NEFT, RTGS, and IMPS are few of the common tools that consumers can use to transfer money to other individuals or merchants. Paypal allows you to transact in various types of currency. Most shopping website allows consumers to make payments through their Paypal account. These are few of the payments solutions that will help you when you don’t want to use your credit card or you don’t have a credit card.

      21st April 2017

    • Update on cash deposit and withdrawal limits

      After the demonetization announcement for Rs.1,000 and Rs.500 notes, the people in India have witnessed many changes to the rules pertaining to cash withdrawal and deposits. There have been constant changes to the limits, however, the current rules eliminate the limits on cash withdrawal set by the government during the demonetization period. Moreover, there won't be any limits to cash withdrawal through savings or current accounts. The individuals who are depositing or withdrawing a huge amount are still required to furnish their PAN details (or the applicable form). The government has normalized the rules as they were before the demonetization announcement, now the banks, at their own discretion, can set limits to the transaction amount.

      4th April 2017

    • Simple steps to keep your bank account safe

      The current market allows an individual to make and receive payments through various channels such as credit/debit cards, digital wallets, online payments, etc. With the growing number of option, there is a serious concern to the security of your bank account. With technological advancement, the modern hackers and thief are finding various methods to steal your hard-earned money. The following list contains precautionary methods to ensure your bank account is safe – By ensuring that you check your statement on a regular basis will help you identify unauthorized transactions that you can report to secure your account. Changing the ATM PIN frequently will also help you in making sure that no one access to your account. You should also avoid the habit of storing your debit card details on any of the website or drive. There are various other steps, however, these simple steps will helping you in keeping your account safe.

      28th March 2017

    • PNB, UBI to support E-verify without net banking

      Net banking or the internet is not the only way to e-verify the Income Tax Return (ITR), the Punjab National Bank (PNB) and United Bank of India (UBI) has introduced a new system that eliminates the need for the internet. The new system uses an Electronic Verification Code (EVC) to verify the ITR over a text message that gets sent by the Income Tax Department. By using this facility, a user can e-verify his/her ITR through a mobile phone. The taxpayer will no longer require sending the documents to CPC Bangalore. The new system will increase the overall efficiency and turnaround time in the whole process.

      27th March 2017

    • Rs.600 Fine to be Charged for Not Maintaining Minimum Bank Balance

      A large number of Indian citizens were seemingly upset by the fact that the State Bank of India has decided to increase its minimum balance to Rs.5000. However, Aditya Puri, the chief of HDFC Bank says “Banks are not Shylocks (lender from ‘The Merchant of Venice’) sucking money, customers need to pay for better service.

      Going by his words, it seems only fair for banks to charge a sum for their services as they are constantly making efforts to rejuvenate themselves. While the technology used by the banks is certainly improving from time to time, banks are ready to take measures to ensure that the costs they incur on providing better services are shared by customers. As a result, individuals who fail to maintain the minimum balance will have to pay hefty fines. The State Bank of India is expected to charge Rs.100 for failure to maintain the minimum balance, while private banks will charge Rs.600 to anyone who fails to abide by the rules.

      In case of HDFC Bank, customers may end up paying more than Rs.600 if taxes are applied. Additional taxes include 14% service tax, 0.5% Swachh Bharat Cess and 0.5% Krishi Kalyan Cess. Customers of ICICI Bank and Axis Bank may have to pay around Rs.450 and Rs.350 respectively.

      08th March 2017

    • Money can be sent and received without bank accounts, soon

      Individuals who wish to send and receive will no longer require bank accounts as Aadhaar cards will be allowed as an alternative medium to do the same. Once IndiaPost opens its payments bank in the near future, all individuals can send and receive money without having a bank account. More than 112 crore individuals from the country can make the most of the new facility based on their Aadhaar number. Around 650 districts are expected to be covered in the initial stages by the bank, and remittances and transfers can be conducted via a mobile phone, thereby making banking truly convenient.

      21st February 2017

    • PAN card necessary for any bank account

      In order to open a bank or post office account, quoting Permanent Account Number or providing details in Form 60 has been made compulsory. This is applicable for all accounts regardless of whether it falls into a no/frills category or a Jan Dhan account, said the Income Tax Department.

      In the meantime, banks will have to provide details of deposits in accounts between 1 April, 2016 and 31 December, 2016. Details of all financial statements including Form 60 of the account holders or Permanent Account Number will have to be submitted by 31 January, 2017.

      As per recent amendments in the Income Tax Rules, for any new account PAN number will have to be provided. In case the individual does not have a PAN number, he/she will have to submit a filled up Form 60 and provide that to the bank. Individuals who have not submitted either should furnish the same within the 28th of February, 2017.

      17th January 2017

    • Paytm becomes a Payments Bank

      Paytm, the leading Digital payments provider, has been granted the final approval of the Reserve Bank of India to formally initiate its payments bank. It is expected to kickstart operations in a period of month. The parent company of Paytm, One 97 Communications, said it’s preparing to fuse its wallet service with the payments bank.

      Any PayTM money will be transferred to the Paytm Payments Bank Limited even as the mobile wallet business will turn into a part of the new company. The process is automatic, and the user doesn’t need to do anything. This is applicable for other banks too, who shall have their wallet businesses aside from their conventional banking operations.

      There will be no change in the structure and functioning of the PayTM app itself. The user experience will remain the same. Users can continue to use it to pay for taxi, fuel, food, utilities etc. the exact same way. What will change is the wallet business, that is poised to get transferred to the new company – which the latter will keep running as it does today.

      Users can opt to open an account with the new payments bank of the company – which will give them a bank account number, cheque book, debit card etc. If the user opts not to open an account, the Wallet will keep working as it is. The company provides and prompts the option to open an individual account. Users will earn an interest amount on their money if they choose to open this new payments bank account.

      Payments Bank differ from a conventional bank in a number of ways. For starters, a payments bank is not allowed to lend or provide advance to its customers. It is able to issue cheque books and debit cards, but not credit cards. Unlike in the case of usual banks, there is a limitation on the money users can deposit in their account. For instance, users cannot keep over Rs 1 lakh in the Paytm payments bank as of now. These banks aim at providing fast and basic banking services to the people at the bottom of the economic ladder. In other news, Airtel is reportedly launching its own payments bank.

      16th January 2017

    • Government introduces limit on EFTs over Rs.1000

      The demonetization of higher value currency has forced the government to introduce multiple digital payment methods. The finance ministry has directed public sector banks to restrict fee on payments made through IMPS and UPI for NEFT fund transfer of over Rs.1000. The RBI’s new norms have directed banks to charge an additional fee and service tax for EFTs, while USSD transaction of Rs.1000 and above will receive discounts of Rs.0.50. The banks shall not charge fees for transactions settled on IMPS and UPI compared to the rates charged for National Electronic Funds Transfer (NEFT) for transactions for Rs.1000 and above.

      21st December 2016

    • The state government mandates cashless transactions at PDS shops

      The state government wants all transactions to be made cashless in the Public Distribution System (PDS). There are 1.48 crores ration card holders and 51,363 PDS shops. The customer should have an MMID, mPIN, mobile number, IFSC code, and a bank account number connected to the Aadhaar number for cashless transactions. The announcement that transactions as less as Rs.50 will turn cashless, has caused alarm among the less privileged, most of whom barely know how to use a cellphone. Faced with strong opposition from both customers and shopkeepers, Nilima Dhayagude, Deputy Commissioner of Pune division’s PDS department, hopes that training people to handle the new system will subdue the opposition. There are 14 lakh cardholders, out of which 10 lakh cardholders regularly purchase food from PDS shops. However, going cashless for PDS beneficiaries can make it more complex.

      9th December 2016

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