Indian Financial System Code
The Indian Financial System Code (IFS 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.  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. Bank IFS Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches.  Format of IFS Code is mentioned below
|Bank Code||0||Branch Code|
Bank IFS Code Information
Bank-wise lists of IFS Codes 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 IFS Code is available on the website of Reserve Bank of India. All the banks have also been advised to print the IFS code of the branch on cheques issued by branches to their customers.
IBAN Integration and Structure
Although, the integration may be a complicated technical process for the financial institutions, it is expected for India to integrate the IBAN system by the end of 2016. More detailed description of the IBAN structure for the upcoming integration can be found on each bank's official website.
- Indian settlement systems - RTGS and NEFT Systems.