Use of IFSC code and how to find it?

Just like a pin code is required to find a particular place such as (pin code of Delhi, pin code of Jharkhand), in the same way IFSC code is required for different bank branch, every bank and its branch has different IFSC code, such as (IFSC code of HDFC) (IFSC code of PNB). An IFSC Code is given by the RBI (Reserve Bank of India) to all the banks and its branches. You can find the IFSC code in the account passbook, cheque book, and on the RBI website. IFSC has different uses for e.g., during the e-fund transfer, you will require IFSC code.

What is an IFSC Code?

The full form of IFSC code is Indian Financial System Code; it is a unique alphanumeric 11-digit number which is used during the e-transfer of money for the transactions of IMPS, NEFT, and RTGS. You can easily find IFSC code on the account holder’s passbook, cheque book, and also on the Reserve Bank of India’s website. This code is allotted to each branch of the bank by the reserve bank of India. You won’t be able to work on most of the internet banking without an IFSC code as it requires IFSC code for transactions.

Commonly, RBI does not make any kind of update or change with regards to IFSC code. Lately, SBI (State Bank of India) changed the Indian Financial System Code in all the branches after its merger with five associate banks.

Importance of IFSC Code

There are three benefits of Indian Financial System Code:

1. It Provides Identification: This code is helpful in identifying the bank and its branch. Additionally, it provides unique identification to every bank and its branch.
2. Elimination of Errors:it comes to use in eliminating the error during the e-fund transfer.
3. E-transfer:An IFSC code is useful in making the electronic payment easier – NEFT, IMPS, and RTGS.

Use of IFSC Code?

This code has its own importance as it is used by the Indian Financial System to enable online money and electronic transfer. This code helps you easily transfer money through NEFT and RTGS. However, when it comes to using transfer funds through UPI, Aadhaar number is required in place of this code.

How to find the IFSC Code?

You can find the Indian Financial System Code by using three methods:

1. You can find it on the cheque leaf and bank passbook that are provided by the respective bank.
2. Go through the website, all the bank codes are listed on the Reserve Bank of India’s website.
3. One more way to find the code is, go on the official website of the respective bank.

What is a MICR Code?

Magnetic Ink Character Recognition or MICR Code is a reliable, fast, effective, and innovative technology. It is used to authenticate the legality and credibility of the paper documents during the process in banking. It is a nine digit numeric code that you can find on the bottom of the cheques. The same concept is found on MICR code which is followed in the barcodes except they can be easily read by humans.

This code is used by banks in order to verify the cheques before the process of clearance. However, this technology is used for other bank documents also as it is authentic. A MICR code includes details of cheque number, bank code, account details, and control indicator. A MICR code enables efficient, quick, and error-free processing of the cheques that is the reason it’s is used.

Some tips that help you make your engineering life better

Having an engineering degree in hand is a way to a rewarding career that offers you a handsome salary package in the leading and renowned companies. Most of the engineering students who regularly go to colleges have an edge over students who are deprived of it. In broad terms, most of the students from remote areas are not able to avail the facilities of such good colleges. But the developing period of India has made it possible for every student to have access to everything that uplifts their education. With the medium of the internet today, they can order the necessary study materials from any place they want to.

They just need to fill basic details about their personal information and other details such as pin code of Delhi, Bihar, Rajasthan or whatever place the student belongs to. In addition to this, you can order online as well in return of which you will have to pay the amount by filling your bank details such as account number of IFSC code of HDFC or IFSC code of PNB or whatever bank you are associated with.

With good study materials in hand, you can alter your lifestyle and way of thinking with each passing day, that’s what engineering degree gives you at the end of the day. However, before you prepare your mindset to get into the field of engineering, you will have to go through the hardships such as studying the B.Tech courses, a few late night studies, and some extra sessions to get you through the subsequent years.

There are some tips that will whittle down your burden of engineering life are as follows:

1. Prepare good notes, and keep them with you for practice

Engineering textbooks are brimming with ample information, but in order to succeed, you have to prepare yourself in a smart and active way. Though trouble will still be there, but with important highlights and pagemarkers, that selective information may come in handy. So, what you need to do is after the class is over, keep with you the useful textbooks and notes as reference. Notes, annotations, and highlighting points are helpful to make your way easier which you can go through anytime by having a glance at them for the reminder.

2. Establish a good relationship with your professors

In order to do well in exams, you will have to develop a healthy relationship with professors at B.Tech College, so you are comfortable in asking any of your queries. The connection should be strong so whenever you approach them, they can help you with your topics. Communicate well with your professors and seek help if ever you get stuck in your study materials or things that don’t get into your head, seek their help. Get into details of industry insights, any job, or better program for future references.

3. Be prepared with your queries both in class and out

Go through the topic they teach you most of the time, chances of those topics coming in the question paper are more. Anything that comes as a barrier in your knowledge, put it before them, they will help you clarify your doubts. Make the most of what they are teaching in their sessions and show your active participation in the study materials. They will openly come with comprehensive solutions with you to rectify your difficulty.

4. Make your own efforts to deal with problems before taking help

To be honestly speaking, no one is so interested in devoting their personal time for others on a repetitive mode. You will have to put out tremendous efforts to have an edge over other students or to fairly do well in exams. Make prolonged efforts to solve the problem until and unless you find it too hard to solve on your own.

You can take guidance from others and learn an alternative to get to the top, don’t try to immerse in finding the exact solutions by emulating others instead put emphasis on your own creativity. If you seek help, make sure you are in touch with that person to help you deal with such situations. Some of the best engineering courses make students go through questioning attitude to prepare them well for exams.

Following these tips will surely help you achieve good marks in exams and attain a good position. You have to realize the importance of good academics records to do well in professional life in the future. As you show agility and active participation in education, there are good chances for you to do well in your career.

 

The advantages and disadvantages of coaching classes that every student must know

Every student nowadays prefers to take coaching classes to score well in board exams, entrance exams, or competitive exams, it has become a trend for students to take admissions in coaching institutes as they consider them to be a better option to attain knowledge that they basically fail to get in any other medium of learning. The question that comes to mind now is if coaching institutes’ students are able to give an edge over the self-studied students.

This topic has turned into a debate whether it is compulsory for students to take help from coaching institutes or they are capable of scoring well with self-studies. In this article, we are going to discuss the advantages and disadvantages of coaching institutes for students who are little confused in deciding if they should go for it or not. (Though some coaching institutes also send coaching module to different states and major cities of India based on the pin code of the place, such as pin code of Bihar and pin code of Delhi). But the matter of the fact is to make students understand what could be beneficial for them.

Advantages of coaching students for aspiring students

• Correct guidance-Coaching institutes provide better career guidance as to what and how syllabus need to be prepared from 9^th to 12^th classes so that students are able to shape themselves accordingly for competitive exams, entrance exams, etc. In coaching institutes, the students not only get the correct academic guidance but also they are able to know better career options and choose the right path as per their interest and academic record. Coaching institutes are really helpful from where you can kick start your career and seek good career guidance from the connoisseurs of teaching.
• The personalization of studies- In school, teachers have to deal with 40-50 students in the class and they just focus on covering their syllabus for subjects in the time allotted to them. At coaching institutes, each student gets individual attention for all the subjects that they show the interest for. Coaching institutes provide better learning and development platform to students as per their requirement.
• Specific subjects are covered- In school, if due to some reason if a student is absent, he misses out on the important topic and loses track of studies. Students are not able to cover the missed-concepts even if they want to because every day they have to follow the ongoing concepts in the classroom.

But in the coaching institutes, they get to learn topics as per their comfortability and cover up each concept that they miss out at school. In school, students fail to understand the comprehensive chemical reactions concept whereas the same they learn with ease by following the concept from the starting in brief in coaching institutes and even if they fail to understand it at one attempt, they may ask the same thing multiple times for clarity.

Disadvantages of coaching institutes for students-

• Additional expenditure on education- Though, the facility of coaching is far away from the reach of students who belong to the far-flung areas but they can visit the nearest bank branch and order the coaching materials from the cities. Each branch has its IFSC code such as IFSC code of HDFC and IFSC code of PNB. This facility is good but comes with it the burden of expenditure that often becomes a barrier for middle-class and lower middle-class family.

Nowadays, the cost of education is rising with each passing year, and not all students are intelligent who without seeking the coaching institutes could score well, for those students, parents have to afford extra expenses on education so that their child gets good scores in academics.

Sometimes, teachers at school run the home tuition as well and parents think their child will get more attention and score well in academic as the teacher is known to the students but nothing happens the way parents think, teachers sometimes do not teach properly as their motive is to just earn an extra buck by giving tuitions.

• Burden of homework on students- Coaching institutes believe that homework is a good form of keeping students in touch with the study materials. Teachers in coaching institutes make students practice well to prepare for exams and entrance exams. But the sad part is students have to finish school homework simultaneously apart from the coaching work, going through the subjects taught in school and coaching institutes together make them feel burdened and they are not able to refresh them and devote enough time properly to subjects.
• Coaching academic structure is different- Coaching institutes follow a personalized study pattern whereas it is completely different in schools they follow the generic pattern for each batch in the classes. This comes across as a dilemma and confuses students if they should be in touch with schools studies or follow coaching classes’ methods.

Conclusion– The conclusion is that those who are brilliant can manage to prepare board exams, competitive exams, or entrance exams on their own but those students who need to learn better and score well and feel the need to join the coaching institutes, then joining coaching institutes is the best idea for them. But self-studies are also equally important as going to school and coaching institutes, this method keeps you focused towards your academics.