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Reserve Bank Of India state wise list of all branches, IFSC code, MICR code and Addresses within India
Reserve Bank of India largely controls the monetary policy of the Indian rupee in a successful manner. It is Indias central banking institution. It was established on 1 April 1935 that is nearly 80 years ago. During the British Rule, it commenced its operations in accordance with the provisions of the Reserve Bank of India Act, 1934. It head quarter is located at the Central Office Building, Shahid Bhagat Singh Road, in Fort, in Mumbai, in the state of Maharashtra, in India. Its present Governor is Raghuram Rajan. It deals with Indian Rupee currency. It comes with reserves of US$351.92 billion and Bank rate of 7.75%. At present, It is a member bank of the Asian Clearing Union.
On 1 January 1949, Reserve Bank of India (RBI) was nationalised with lot of perfection. It plays a significant part in the Development Strategy of the Government of India. It is to be noted that the direction and general superintendence of the RBI is perfectly entrusted with the Governor (Dr. Raghuram Rajan), the 21-member Central Board of Directors, 2 Finance Ministry representatives, 4 Deputy Governors, 10 government-nominated directors in order to represent significant elements from Indias economy, plus 4 directors in order to represent local boards headquartered at Kolkata, Mumbai, New Delhi and Chennai.
Reserve Bank of India IFSC code is an alphanumeric code that helps in money transfer activities like RTGS and NEFT. It is an eleven character code. Its ifsc code is a type of identification code that allows RBI to recognize for which branch the transfer is taking place. The first four characters of the code represents the bank, fifth character is zero which is constant and the remaining digits represent the branch.
In the era of internet human beings are not distant from any information they want. There are many popular websites that will help you get the ifsc code for a particular RBI branch. Some basic information like bank name, state, district and the locality will be needed. Fill up these sections or simply select names from the drop down menu.
Reserve Bank of India Magnetic Ink Character Recognition code (MICR) is a code readable by machines used for clearance of cheques and its processing. It acts as the identification of the branch to which the code belongs to. A magnetic reader reads the cheque. MICR technology has helped a lot in speeding up the cheque clearance process. It is far better than manual reading and sorting. It is generally printed in E-138 font or CMC-7. The code is printed in such a way that even if it is covered by a stamp mark it can easily be read by the magnetic reader.
MICR codes can be generated from the internet. Along with the code you will get many other important details about the bank. The search is very easy. It can be easily narrowed down by entering little important information like state.