IFSC code for Muslim Co-operative Bank, Bhiwandi, Thane, Maharashtra
Updated on: Friday, November 1, 2024
IFSC CODE
MSLM0000024
Muslim Co-operative Bank
Bhiwandi, Thane, Maharashtra
Address
Taj Market,shop No-103-111,municipal House No-26/10/11,bhiwandi
Muslim Co-operative Bank
Bhiwandi, Thane, Maharashtra
Address
Taj Market,shop No-103-111,municipal House No-26/10/11,bhiwandi
Bank Details
IFSC Code
MSLM0000024
MICR Code
400165004
Bank Code
(Based on IFSC)
MSLM
Bank Code
(Based on MICR)
165
Contact
NA
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IFSC Code of Muslim Co-operative Bank
Every Muslim Co-operative Bank branch in India has a unique Muslim Co-operative Bank IFSC Code. Muslim Co-operative Bank IFSC Code enables Muslim Co-operative Bank account holders to send and receive money electronically. Muslim Co-operative Bank IFSC Code is assigned by RBI (Reserve Bank of India) to each branch as it helps in carrying out RTGS and NEFT transactions smoothly.
Benefits of IFSC Code
Unique Identification: IFSC code helps in unique identification of all banks and their respective branches.
Smooth Fund Transfer: IFSC code enables convenient and hassle-free transfer of funds from one bank account to another.
Monitoring Transactions: IFSC code is used by RBI to keep track of all the bank transactions. It lowers the chances of discrepancy.
Format of Muslim Co-operative Bank IFSC Code MSLM0000024
The IFSC code of all accounts in the same branch of the bank is standard. It is an 11 digit alphanumeric code.
The first four letters of the code, i.e., MSLM, denotes the name of the bank which is Muslim Co-operative Bank.
The fifth character is 0.
The last six digits of the code, i.e., 000024, represents the branch which is Muslim Co-operative Bank
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MICR Code of Muslim Co-operative Bank
Every Muslim Co-operative Bank branch in India has a unique Muslim Co-operative Bank MICR Code. MICR code for Muslim Co-operative Bank can be found on a cheque leaf and bank passbook. It is a 9 digit code printed on the last line of a cheque leaf. One can also find MICR code on the website of Muslim Co-operative Bank. MICR code is used for faster and secure processing of cheques.
Benefits of MICR Code
High Level of Security: The use of magnetic ink ensures MICR characters are readable even if a document is obscured by marks.
Authentication of Docs: MICR code authenticates the originality and legality of paper based docs. in the banking system.
Faster Processing: There is no manual input and hence the processing of MICR information is fast and errors are reduced.
