All the Important Codes and Numbers Used in Financial System

♨ *Indian Financial System Code (IFSC)*

��IFSC is an 11 – character alpha numeric code.

��First Four alphabetic characters represent the Bank Name.

��The Fifth character is 0 (Zero) and reserved for future purpose and the last Six characters (numeric / alphabetic / combination of both) representing the Bank Branch.

��Banks and organizations use IFSC to identify participating Bank Branch in NEFT, RTGS & IMPS transactions.

��e.g. ABCD0123456
ABCD –Bank Name
0 – Zero
123456 – Bank’s Branch Code

♨ *Magnetic Ink Character Recognition (MICR)*

��MICR is a 9- digit code.

��MICR code usually printed on the bottom strip of cheque leaf.

��It is used in cheque clearing process to identify the bank and branch.

��First Three digits represent the City Code.

��Next Three digits represent the Bank Code.

��Last Three digits represent the Branch Code.

��e.g.: 123456789
123 – City Code
456 – Bank Code
789 – Bank’s Branch Code

♨ *Permanent Account Number (PAN)*

��PAN is an 10- character alpha numeric code.

��It is the identifier of Indian Income Tax Payers.

��The PAN is unique, valid for life-time of the PAN-holder throughout India.

��The PAN structure is as follows:
ABCDE1234F:
��First Five characters are Alphabets.

��Next Four are numerals,

��Last Character is also Alphabet

♨ *AADHAAR / Unique Identification Number (UID)*

��Aadhaar is a 12 – digit code.

��It collects the biometric and demographic data of Resident Indians.

��Unique Identification Authority of India (UIDAI) data centre is located at Manesar (Haryana).

♨ *Universal Account Number (UAN)*

��UAN is a 12 –digit code.

��It will be generated for each of the Provident Fund contributing member by Employees’ Provident Fund Organization (EPFO).

��UAN is necessary for easy PF management.

♨ *Permanent Retirement Account Number (PRAN)*

��PRAN is a 12 – digit code.

��National Pension System subscriber will be allocated a unique Permanent Retirement Account
Number (PRAN) by Pension Fund Regulatory & Development Authority (PFRDA).

♨ *International Securities Identification Number (ISIN)*

��The ISIN is a 12 – character alpha numeric code.

��It uniquely identifies a security.

��ISINs are issued to bond, commercial paper, stock and mutual fund units etc.

♨ *Society for Worldwide Interbank Financial Telecommunication (SWIFT)*

��SWIFT code is a 8 – 11 character alphabetic code.

��It is a unique identification code for both financial and non-financial institutions.

��The SWIFT code structure is as follows:

��First Four letters – Institution code / Bank code

��Next Two letters – Country code

��Next Two letters – Location code

��Last Three letters – Branch code

Where an 8- character code is given, it may be assumed that it refers to primary office.

♨ *Mobile Money Identifier (MMID)*

��MMID is a 7- digit code

��It is a random number issued by the bank upon registration.

��In the 7 digits of the MMID are 4 digits used to identify the bank of the user and three used to identify the account of the user.

��Remitter & Beneficiary should have this number  for performing IMPS transaction.

��The bank will allocate a MMID for each account of the mobile banking customers.