Indian Financial System Code

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The Indian Financial System Code (IFSC Code) is an alphanumeric code that uniquely identifies a bank-branch participating in the two main Electronic Funds Settlement Systems in India: the Real Time Gross Settlement (RTGS) and the National Electronic Funds Transfer (NEFT) Systems. [1] This is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use. IFSC Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches. [2]

IFSC Information[edit]

Bank-wise lists of IFSCs are available with all the bank-branches participating in inter bank electronic funds transfer. A list of bank-branches participating in NEFT/RTGS and their IFSCs is available on the website of Reserve Bank of India.[3] All the banks have also been advised to print the IFSC of the branch on cheques issued by branches to their customers.

See also[edit]

References[edit]

  1. ^ "RTGS/NEFT - FAQ". State Bank of India. p. question 9. Retrieved 2 August 2012. 
  2. ^ "FAQs : NEFT system". Reserve Bank of India. 31 January 2012. Retrieved 2 August 2012. 
  3. ^ National Electronic Funds Transfer Reserve Bank of India