From Bharatpedia, an open encyclopedia
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.[1]
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.[2]
The format of the IFS Code is shown below.
| 1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11
|
| Bank Code
|
0
|
Branch Code
|
Lists of IFS Codes[edit]
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.[3] All the banks have also been advised to print the IFS code of the branch on cheques issued by branches to their customers.
References[edit]
External links[edit]
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