Indian Overseas Bank IFSC Code, MICR Code, Address, Contact Number for the Balod Branch in Chandigarh
Indian Overseas Bank Balod Branch is situated in Durg, Chandigarh
IFSC Code for Indian Overseas Bank Balod Branch, Durg
IOBA0002534
- Bank Name: Indian Overseas Bank
- Bank Old IFSC Code: NA
- Bank New IFSC Code: IOBA0002534
- Bank MICR Code: 491020501
- Bank Address: Near Old Bus Stand,Sardar Line,Balod,Durg Dist,Chattisgarh 491226
- Bank Branch: Balod
- Bank District: Durg
- Bank State: Chandigarh
- Bank City: Balod
About IFSC Codes in India
IFSC stands for Indian Financial System Code. It is a unique 11-digit alphanumeric code assigned to each bank branch in India by the Reserve Bank of India (RBI). It is used for electronic funds transfer using NEFT, RTGS, and IMPS.
Components of IFSC Code:
- First four characters: Bank code
- Fifth character: Always 0
- Last six characters: Branch identifier
About MICR Codes
MICR stands for Magnetic Ink Character Recognition and is printed on cheques to streamline processing.
- First three digits: City code
- Next three digits: Bank code
- Last three digits: Branch code