Laxmi Vilas Bank IFSC Code Search

Lakshmi Vilas Bank IFSC is divided into 3 sections wherein each section has its significance.

The first four characters denote the bank, the fifth character remains zero and is kept for future use. The last six characters of the IFSC code indicate the branch of the respective bank.

BANK NAME(Laxmi Vilas)				ZERO	BRANCH NAME(Rohini)
L	A	V	B	0	0	0	0	6	0	9

IFSC Code of a bank is just like a home address of that bank that is used to recognize that bank. Likewise, every branch of Lakshmi Vilas Bank has a unique IFSC that is required for the correct functioning of fund transfer.

IFSC marks the beginning and end of a transaction taking place between two banks hence it helps RBI to monitor all transactional activities taking place in the country.

IFSC has made fund transfer safe secure and convenient. Now account holders can carry out fund transfer easily by sitting at home using the IFSC Code. The three majorly used fund transfer systems in India are as under-

NEFT

• NEFT is the abbreviation for National Electronic Fund Transfer
• It is a nation-wide payment system introduced by the RBI in the year 2005.
• NEFT is based on Deferred Net Settlement (DNS) which means that the funds are not transferred on an individual basis instead of the fund are transferred in batches
• Online Fund transfer via NEFT is less time consuming and quite secure

RTGS

• RTGS is the abbreviation for Real-Time Gross Settlement
• RTGS is another fund transfer system facilitating one-to-one fund transfer on real-time
• RTGS was also introduced by the RBI in the year 2004 with four bank branches on a pilot basis
• Online Fund transfer via NEFT is less time consuming and quite secure

IMPS

• IMPS is the abbreviation for Immediate Payment System
• IMPS is another system used for interbank fund transfer electronically via netbanking and mobile banking etc
• IMPS war introduced by the NPCI in the year 2010 and it transfers funds in real-time

Both IFSC and MICR codes of Lakshmi Vilas Bank are unique codes and make the fund transfer process more convenient and secure. Here are some of the ways to find the Lakshmi Vilas Bank IFSC Code & MICR Code.

1. IFSC Tool Locator: Paisabazaar offers a tool that helps customers to find the required IFSC and MICR code. Here are the steps to locate the Lakshmi Vilas Bank IFSC and MICR Code using the same.
   • Visit the Paisabazaar IFSC code locator and Lakshmi Vilas Bank from the drop-down menu
   • Select the city, state and the branch of Lakshmi Vilas Bank whose IFSC and MICR Code you want
   • The required IFSC and MICR Code will be displayed on the screen.
2. RBI Website: RBI also offers a tool with the help of which customers can get the required Lakshmi Vilas Bank IFSC and MICR Code. Simply select the bank and the branch name from the drop-down and click on “Get Bank Details”.

One can refer to the below-mentioned platforms to find the IFSC code of the Lakshmi Vilas Bank -

• • Cheque Book: A chequebook is issued to all the customers during the time of the account opening. Hence one can see the IFSC code printed on the top a cheque leaf.

• Passbook: One can even find the IFSC Code on the Passbook issued by the bank.
• Digital Banking Platforms: Mobile Banking and Netbanking portal are the other two ways to find the required IFSC code of Lakshmi Vilas Bank.

MICR Code is a 9-character code that stands in par with the IFSC code and aids in fund transfer. MICR Stands for Magnetic Ink Character Recognition technology and is primarily used to validate the originality of paper-based documents in banking.

Examples

110056006 is the MICR Code of Rohini Branch, Delhi

110056007 is the MICR Code of Gaziabad Branch, Uttar Pradesh

MICR Code Format:

MICR Code is formed in such a way that the initial 3 characters denote the city name, the next three are indicative of bank and the last three digits are indicative of the branch.

City Name			Bank Code			Bank Branch
1	1	0	0	5	6	0	0	6

Apart from the Paisabazaar IFSC tool locator and the RBI website one can also refer to the following platforms-

• • Cheque Book: A cheque book is issued to all the customers during the time of the account opening. Hence one can see the MICR code printed on the bottom of a cheque leaf.

• Passbook: One can even find the MICR Code mentioned on the Passbook issued by the bank.
• Digital Banking Platforms: Mobile Banking and Netbanking portal are the other two ways to find the required MICR code of Lakshmi Vilas Bank.

SWIFT or Society for Worldwide Interbank Financial Telecommunications is a wide messaging system used by the banks to speedily and accurately send and receive money. The code consists of 8 to 11 digits and carries out fund transactions outside India.

IFSC Code	MICR Code	SWIFT Code
IFSC or Indian Financial System Code is an 11-digit code used to identify various bank branches taking part in fund transfer systems in India	MICR Code or Magnetic Ink Character Recognition technology is a unique 9-digit code used to validate the originality of paper-based documents in the banking system	SWIFT or Society for Worldwide Interbank Financial Telecommunications is a code consists of 8 to 11 digits used for fund transfer across the globe
IFSC Code is valid across the country and is assigned to all the registered banks by the RBI	MICR Code stands in par with the IFSC code and aids in fund transfer across the country	SWIFT Code is used across the globe for fund transfer