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What Is IFSC Code

An IFSC code is a unique identification code that is used to identify the bank and branch of any particular bank account and is used in bank transfer systems like NEFT, RTGS, and IMPS. IFSC stands for u2018Indian Financial System Codeu2019 and forms an essential part of the Indian banking infrastructure.

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What Is IFSC Code

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  1. what is ifsc code Payment Gateway

  2. What is an IFSC code? What is IFSC code? - An IFSC code is a unique identification code that is used to identify the bank and branch of any particular bank account and is used in bank transfer systems like NEFT, RTGS, and IMPS. IFSC stands for ‘Indian Financial System Code’ and forms an essential part of the Indian banking infrastructure.Every code contains 11 alphanumeric characters. The first four characters are alphabets and used to identify the bank name; the last six characters are numeric or alphanumeric and used to indicate the branch code. The fifth character in the code is zero and always remains constant for all codes.

  3. Example of IFSC code IFSC Code: PUNB 0 392500The first four characters are PUNB, which refers to Punjab National Bank. The last six characters refer to the particular branch of the bank, which in this case is Mahalakshmi Layout Branch, Bangalore.IFSC codes are allotted by the Reserve Bank of India (RBI) and these codes are unique, meaning that no two banks or branches can have the same code.

  4. How to search for IFSC code? Your IFSC Code can be visibly printed on the top of the cheque page, while the MICR Code can be seen printed on the bottom side of the same. Also, the IFSC, as well as the MICR Code, can also be found on the first page of your passbook that is provided by the respective bank branch.

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