>DaxServer: Reverting edit(s) by Jayantby (talk) to rev. 1026168993 by Kuru: Addition of unnecessary/inappropriate external links (RW 16.1)

2021-07-07T08:52:36Z

Reverting edit(s) by Jayantby (talk) to rev. 1026168993 by Kuru: Addition of unnecessary/inappropriate external links (RW 16.1)

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{{short description|Unique identifier for a branch of a financial institution in India}}
The '''Indian Financial System Code''' (IFS Code or IFSC) is an [[alphanumeric code]] that facilitates [[electronic funds transfer]] in India. A code uniquely identifies each bank branch participating in the three main [[Payment and settlement systems in India]]: the [[National Electronic Funds Transfer]] (NEFT), [[Real Time Gross Settlement]] (RTGS) and [[Immediate Payment Service]] (IMPS) systems.<ref>{{cite web|title=RTGS/NEFT - FAQ|url=https://www.onlinesbi.com/osbi_rtgs_faq.html|publisher=State Bank of India|access-date=2 August 2012|page=question 9|url-status=dead|archive-url=https://web.archive.org/web/20120416231117/https://www.onlinesbi.com/osbi_rtgs_faq.html|archive-date=16 April 2012}}</ref>

==Format==
The IFSC 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.<ref>{{cite web |title= FAQs : NEFT system |url= http://www.rbi.org.in/scripts/FAQView.aspx?Id=60 |publisher= Reserve Bank of India |access-date= 2 August 2012 |date= 31 January 2012 }}</ref>
The format of the IFS Code is shown below.
{| width="90%" class="wikitable" style="text-align:center;"
|-฿
! 1 !! 2 !! 3 !! 4 !! 5 !! 6 !! 7 !! 8 !! 9 !! 10 !! 11
|-
| colspan="4" | Bank Code
| 0
| colspan="6" | Branch Code
|}

==Lists of IFS Codes==
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]].<ref>[http://www.rbi.org.in/scripts/neft.aspx National Electronic Funds Transfer] Reserve Bank of India</ref> All the banks have also been advised to print the IFS code of the branch on [[cheque]]s issued by branches to their customers.

{| class="wikitable"
|+Official Sources For Data
!TYPE
!LINK
|-
|NEFT SUPPORTED BRANCHES
|https://rbidocs.rbi.org.in/rdocs/content/docs/68774.xlsx
|-
|RTGS
|https://rbidocs.rbi.org.in/rdocs/RTGS/DOCs/RTGEB0815.xlsx
|-
|NACH Members
|https://www.npci.org.in/national-automated-clearing-live-members-1
|}

==References==
{{reflist}}

== External links ==
*[https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx Find IFSC of Banks' Branches] on Reserve Bank of India's Website
*[https://m.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2009 List of NEFT Enabled Bank Branches] (with IFSC) on Reserve Bank of India's Website



{{Banking in India}}

[[Category:Banking in India]]
[[Category:Real-time gross settlement]]
[[Category:E-commerce in India]]
[[Category:Financial routing standards]]
[[Category:Standards of India]]

Indian Financial System Code - Revision history

>DaxServer: Reverting edit(s) by Jayantby (talk) to rev. 1026168993 by Kuru: Addition of unnecessary/inappropriate external links (RW 16.1)