ANDHRA BANK IFSC Code PADMARAO NAGAR Branch: ANDB0000031
IFSC stands for Indian Financial System Code. It is an 11 (eleven) character alphanumeric code that uniquely identifies a bank branch. IFSC is used when funds are electronically transferred through real time gross settlement (RTGS) or the national electronic funds transfer (NEFT) method. Out of the 11 characters of IFSC, first four are alphabetic characters representing the bank, the last six characters (generally a number, but can be an alphabet) represent the branch. The fifth character is 0 (zero), it is reserved for future use.
NEFT and RTGS methods use IFSC code to send messages to the bank branches. If you want to transfer funds to an account located at ANDHRA BANK PADMARAO NAGAR Branch, you would need the branch’s IFSC Code which is ANDB0000031.
Address of ANDHRA BANK PADMARAO NAGAR Branch: 6-1-131 R VENKATARAMANA RES. COMPLEX PADMARAO NAGAR SECUNDERABAD – 500 025
Contact Details ANDHRA BANK PADMARAO NAGAR Branch: A.NAGESWARA RAO – 040-27506049
MICR Code ANDHRA BANK PADMARAO NAGAR Branch: 500011034
MICR stands for Magnetic ink character recognition. The machines in banks where cheques are swiped read the MICR code of cheque. MICR codes are used by banking industry mainly for the cheque clearance process. MICR code is printed at the bottom of the cheque and indicates document type, bank code, bank account number, cheque number and control indicator. In 1940s cheque clearance was done manually and took lot of time and effort which led to the use of MICR for cheque clearance.
If you are using a cheque from ANDHRA BANK PADMARAO NAGAR Branch you would see MICR Code 500011034 on it.
IFSC Code and MICR Code data source: RBI(Reserve Bank of India) IFSC Codes