IFSC, MICR and SWIFT codes: the difference

All three codes identify a bank branch, but each is used by a different payment system. This is the short answer:

	IFSC	MICR	SWIFT (BIC)
Used for	NEFT, RTGS, IMPS inside India	Clearing of cheques	Payments to and from other countries
Length	11 letters and digits	9 digits	8 or 11 letters and digits
Example	SBIN0000691	110002087	SBININBB104
Given by	Reserve Bank of India	Reserve Bank of India	SWIFT, the international network
Every branch has one?	Every branch that takes electronic payments	Branches that take part in cheque clearing	No. Usually the head office and main branches

MICR code: 9 digits on the cheque

MICR means Magnetic Ink Character Recognition. The code is printed in special ink in the white band at the bottom of every cheque, next to the cheque number, so machines can read it.

First 3 digits: the city. They match the first three digits of the city's PIN code (110 for Delhi, 400 for Mumbai).
Middle 3 digits: the bank.
Last 3 digits: the branch.

You are asked for the MICR code on some forms: SIP and ECS/NACH mandates, some loan and investment forms. If your branch has no MICR code, the form can usually be filled with the IFSC alone.

SWIFT code: for money from abroad

A SWIFT code, also called BIC, is how banks across the world address each other.

4 letters: the bank (SBIN).
2 letters: the country (IN for India).
2 characters: the city or location (BB).
3 characters, optional: the branch (104). A code of 8 characters means the head office.

Most branches in India do not have their own SWIFT code. When someone sends you money from abroad, your bank tells you which SWIFT code to give (often of its main forex branch) together with your account number and IFSC. Ask the bank; do not guess.

Which code do I give?

Someone in India is paying you by bank transfer: account number, name and IFSC.
You are filling a mandate form for SIP or EMI: account number, IFSC and, if asked, MICR.
Someone abroad is paying you: account number, name, the SWIFT code your bank tells you, and the IFSC.

You can see the IFSC, MICR and (where there is one) SWIFT code of a branch with our IFSC checker.

Last checked: 2026-11-11.