Indore Paraspar Sahakari Bank
Indore Paraspar Sahakari Bank IMPS BRANCH
+917312542876
Understanding IFSC Code: The Digital DNA of Indore Paraspar Sahakari Bank
When performing any digital transaction in India, the Indian Financial System Code
(IFSC) acts as a critical identifier. For the Indore Paraspar Sahakari Bank IMPS
branch of Indore Paraspar Sahakari Bank, the code ICIC00INPRS ensures
that your funds are routed through the Reserve Bank of India's (RBI) structured network without manual
errors. In an era of instant payments, having the correct IFSC is as important as the account number
itself.
Anatomy of the ICIC00INPRS Code
An IFSC is an 11-character alphanumeric code. Let's break down the logic behind the code for this specific branch:
Bank Identity
"ICIC" represents Indore Paraspar Sahakari Bank
Control Character
Always '0' (Reserved for future use)
Branch Locator
Unique code for Indore Paraspar Sahakari Bank IMPS
Payment Systems Supported by ICIC00INPRS
| System | Transfer Limit | Processing Time |
|---|---|---|
| NEFT | No Minimum (Up to ₹50 Lakhs+) | Half-hourly batches (24x7) |
| RTGS | Minimum ₹2 Lakhs | Real-time settlement |
| IMPS | Up to ₹5 Lakhs | Instant (Mobile/P2P) |
Why do you need the MICR Code?
While IFSC is for digital transfers, the Magnetic Ink Character Recognition
(MICR) code—452279002—is primarily
used for the processing and clearance of physical cheques. This 9-digit code helps in
identifying the bank and branch during the Cheque Truncation System (CTS) cycle, making clearing
faster and error-free.
Bank Holidays & Availability
The Indore Paraspar Sahakari Bank in INDORE typically follows the RBI holiday calendar. Digital transfers via ICIC00INPRS for NEFT/RTGS are now available 365 days a year, regardless of physical branch timings or Sunday closures.
Security Warning & Verification
Always verify the branch details before making a large payment. While ICIC00INPRS is the valid code for Indore Paraspar Sahakari Bank IMPS at INDORE, ensure the beneficiary name matches perfectly in your mobile banking app.
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