An IFSC code is an alphanumeric code that is used to facilitate electronic funds transfer in India. It is an 11-digit code that uniquely identifies each bank branch participating in the National Electronic Funds Transfer (NEFT) network. The code is used by the Reserve Bank of India (RBI) for electronic money transfers between banks, as it can quickly identify where the funds are coming from and where theyre going. The format of the IFSC code is shown below:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |
|---|---|---|---|---|---|---|---|---|---|---|
| Bank Code | 0 | Branch Code |
The first four alphabetic characters represent the bank name, and the last six characters (usually numeric, but can be alphabetic) represent 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. Lists of IFS Codes are available with all the bank-branches participating in inter-bank electronic funds transfer. You can find the IFS Code on your recipient’s bank statement and checks, or you can visit the RBI website and search through its list of banks and codes.
