• 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

    IFSC Code

    IFSC Code ( Indian Financial System Code )

    IFSC, expanded as Indian Financial System Code, is a unique 11-digit alphanumeric code that is used for online fund transfer transactions done via NEFT, RTGS and IMPS. Bank IFSC code can be usually found on the cheque leaf issued by the bank. All these codes are assigned to banks by the Reserve Bank of India (RBI) and one can find IFSC codes of all banks and branches on the RBI website. Net banking transactions for fund transfer, using any of the wire transfer modes, cannot be initiated without a valid IFSC.

    Banks generally do not revise/change or update this 11-digit key unless there is some kind of reorganisation or merger. This was the case with the State Bank of India (SBI) that recently changed IFSC codes of branches across the country after it merged with 5 associate banks and one other bank.

    IFSC code :

    • Helps uniquely identify a specific bank branch
    • Helps eliminate errors in the fund transfer process
    • Used for all electronic payment options such as NEFT, RTGS and IMPS

    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

    MICR Code

    Magnetic Ink Character Recognition (MICR) is a 9-digit code that helps identify a particular bank branch that is part of the Electronic Clearing System (ECS), which is used to clear cheques on a routine basis. This code can be found on the cheque leaf that is issued by the bank and is generally also printed on the passbook that is issued to the account holder. For example the MICR code for the SBI branch in Kolkata is ‘700002021. Here, the first 3 digits ‘700’ is used to identify the specific city, while other 3 digits ‘002’ represent the the specific bank code. On the other hand, the last 3 digits ‘021’ specifically represents the bank branch code.

    This code is primarily used to process and clear cheques, which is done by machines. The MICR code helps eliminate errors in the clearing process and also helps speeden up things. This also makes cheque processing more safe and secure.

    Check IFSC Code for Top Banks:

    State Bank of India HDFC Bank Indian Bank
    Axis bank Canara bank ICICI Bank

    How Does IFSC CODE work

    Let us take an example of the Canara Bank IFSC code to better understand what IFSC code is and how it works in banking transactions. The IFSC code for the Chandigarh Branch of Canara Bank is CNRB00001995.

    • Here, CNBR represents the name of the bank, which is Canara Bank
    • The 5th character, which is 0, is for future use
    • The other 6 characters, 01995, specifically helps the RBI identify a bank branch without any error.

    Now, let us understand how IFSC works. When a fund transfer is initiated to a particular payee, one has to provide the account number and branch-specific IFSC code. Once the remitter keys in all these details the money is sent to the account holder and IFSC helps avoid any errors in such transactions.

    Apart from fund transfers, IFSC code can also be used to purchase insurance and mutual funds through net banking. The Reserve Bank of India’s (RBI) National Clearing Cell monitors all transactions and the IFSC code helps the RBI keep track of transactions and also execute fund transfers without any error.

    The IFSC code can also be found on your cheque book or bank passbook. One can also find their bank branch IFSC code in the monthly account statement. The IFSC code for each bank and branch is unique. Even if you hold an account in one bank, the IFSC code will differ from branch to branch.

    Why Do We Need IFSC CODE

    We need an IFSC code because it helps the RBI monitor all banking transactions without any blunders. A simple IFSC code can aid the RBI track, oversee and seamlessly maintain all financial transactions that are carried out using electronically, namely, NEFT, RTGS and IMPS.

    For bank customers, IFSC code is important because most electronic fund transfers cannot be initiated unless the IFSC code of the beneficiary/payee is provided along with the bank account number.

    IFSC code plays 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.

    Locate IFSC and MICR Code on a Bank Cheque

    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.

    Modes of Online Money Transfer Using IFSC Code

    IFSC code can be used to transfer funds using three electronic fund transfer modes such as NEFT, RTGS and IMPS. These types of electronic fund transfers enables customers to easily transfer funds from one account to another through net banking or mobile banking.

    Choosing electronic transferring systems brings down the chance of errors in a transaction because fund transfers are only authorised if accurate details such as the payee’s bank specific IFSC code and bank account number are provided.

    • NEFT: To transfer funds using NEFT, the remitter has to provide the IFSC code, beneficiary name, account number and account type. All NEFT transactions are settled in a batchwise format.
    • RTGS: RTGS fund transfers are usually used for high value transactions and are cleared immediately. The details required for RTGS fund transfer is IFSC code of the receiving bank branch, name of payee, account number, and transaction amount.
    • IMPS: IMPS is an immediate fund transfer system where money will be credited instantly to the beneficiary account on a real-time basis. One cannot initiate an IMPS fund transfer without providing an IFSC code.

    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.

    • 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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      • Bank Employees May Work Overtime on March 31

        Those who have not yet filed their income tax returns can still do so on March 31 as all banks that accept tax payments will be open for extended hours on the last working day of March.

        When filing income tax returns it is very important to get all details right including the account number and IFSC code. The Reserve Bank of India (RBI) has issued instructions urging all banks that are part of the tax payment acceptance list, to remain open till 8 p.m. on March 31, 2018.

        Apart from this, the RBI has also mandated that all electronic fund transfer methods such as Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) to also be made available for extended hours, which is at least till midnight.

        March 31 marks the end of the financial year and hence all accounts and financial statements have to be closed on the day for the respective financial year 2017 to 2018. All agency banks will have to make other arrangements to meet this requirement.

        Banks will be closed on March 29 and March 30 on account of Mahaveer Jayanti and Good Friday.

        28 March 2018

      • Rationalization of SBI Branches in Telangana Almost Complete

        Following the merger of State Bank of India (SBI) with its associate banks in April last year, rationalisation of many branches in the country was necessitated. As per sources in the SBI, the process of rationalisation of SBI branches in Telangana has been almost completed for the current financial year. The sources informed that as many 125 branches were relocated with its staff redeployed till last week. The entire process which saw the branch and IFSC codes being changed after the shifting was carried out in six phases. A senior bank official informed that there won’t be anymore rationalisation of branches till March because of annual audit.

        It needs to be mentioned that the deadline for rationalisation and redeployment of staff was set for September and December respectively. But as the process of shifting was carried out on only second and fourth Saturdays and Sundays, the process took long to be completed.

        19th February 2018

      • Tez, PhonePe and Paytm Transactions Surge

        As digital payments transactions are increasing across the country, many UPI-based payment apps such as Paytm, Phonepe and Tez, have been seeing steady growth.

        Google’s Tez has seen as many as 40 million transactions since its launch, which contributes to almost 40% of the volume of UPI transactions in the country. PhonePe is catching up with along with Paytm.

        Most banks in India have collaborated with UPI through their respective apps. There is no need to know IFSC code or bank account number while sending money through UPI.

        8th January 2017

      • New IFSC Codes for 1,300 SBI Branches

        The State Bank of India (SBI) will now have new IFSC codes assigned to as many as 1,300 branches spread across the country. The names of branches have also been changed.

        This change has been implemented after SBI signed a merger recently with other associate banks. The IFSC codes of branches located in Bengaluru, New Delhi, Mumbai, Chennai, Hyderabad, Kolkata and Lucknow, among others, have been changed.

        All customers have been informed about this change and the bank has already mapped SBI account holders with the new IFSC code. So, even if any fund transfer is initiated using the old IFSC code, it will be automatically mapped to the new IFSC code.

        12th December 2017

      • 38% Rise in UPI transactions in November

        The Unified Payments Interface (UPI) has seen immense growth in the month of November this year. The total number of transactions stood at 105 million, which is a 38% increase from the last month (October).

        The data in this regard has been released by the National payments Corporation of India (NPCI). Through UPI, money can be sent from one account to another without using bank account number or IFSC code.

        The total transaction value increased by 37%, standing at Rs.9,679 crore. The figure for the previous month in terms of transaction value stood at Rs.7,057 crore.

        6th December 2017

      • Will Cheques be Pushed Out to Encourage Cashless Transactions?

        In an effort to encourage more and more cashless payments in the country, the government is likely put an end to the system of paying through cheques.

        A senior representative from Confederation of All India Traders (CAIT) said that it is likely that the Narendra Modi government will put an end to the use of cheques to boost digital transactions. The officer added that the Centre shells out around Rs.25,000 crore only to print money and an additional Rs.6000 crore for the security of the currency notes. He said that banks should provide more incentives for digital transactions like transaction using UPI Payment or NEFT, RTGS etc for which Bank Account no. & IFSC Code is required at the time of registration and after that you can transfer money easily with one click.

        There has been as immense growth in the digital sector, which stands currently at around 40% to 70%.

        23rd November 2017

      • UPI: Most Used Digital Payment Mode

        The Unified Payments Interface (UPI) is one of the fastest growing digital payment modes in the country. This trend was observed for the month of October, 2017.

        It has been observed that there was a 149% month-on-month growth rate and in aggregate, transaction volume terms, the figure has reached 76.77 million and 33%. In terms of value the figure stands at Rs.7,027 crore. This data has been obtained from the Reserve Bank of India (RBI).

        There has been a rapid surge in the number of UPI transactions in the last few months.

        20th November 2017

      • Now, UPI on Airtel Payments Bank

        Airtel Payments Bank, an initiative of Airtel, has now joined hands with the Unified Payments Interface (UPI).

        Airtel Payments Bank is a digital payments application that can be used via the Airtel app on a smartphone. Airtel customers can get VPAs and make payments using a virtual address, without the need to know the payee’s account number or IFSC code.

        8th November 2017

      • Tez: 7.5 Million Users in Just 37 Days

        There has been an unprecedented increase in the number of digital transactions via the Google Tez app.

        To put in numbers, according to Sundar Pichai, CEO, Google, in just 37 days of its launch, Tez has around 7.5 million users in the country. As many as 30 million transactions were recorded in a period of 5 weeks and over 5 to 10 million people have downloaded the app.

        Tez is a digital payments solution app that is UPI-enabled. The app can be downloaded and used on both iOS and Android platforms and the service is available in many local Indian languages including Hindi, Tamil, Kannada, Gujarati, Marathi, etc. To use the service customers will have to have a Google account and a registered mobile number that is linked to the bank account. Funds transfers can be initiated without an account number and IFSC code, using a virtual address that will be allotted to all UPi users.

        6th November 2017

      • Rise in Number of Online Transactions

        The demonetization drive has given a push to online payments in the country, according to the Payments Council of India (PCI).

        The PCI was formed in 2013 to take care of digital transactions in the country. According to the PCI, there was an unprecedented rise in the number of online transaction in the country in the period from December 2016 to January 2017. It was also observed that many kirana shops in the country also started adopting to change and began accepting online payments.

        It was observed that online payment volumes grew threefold after the demonetization drive in the country.

        3rd November 2017

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