IFSC Code


IFSC Code

IFSC stands for Indian Financial System Code which represent 11 character code helps identify the individual bank-branch which an account is held. The Indian Financial System Code(IFSC) is an alphanumeric code which is used to identify a branch of a participating bank of popular Electronic Funds Settlement options in India: NEFT(National Electronic Funds Transfer) and RTGS(Real Time Gross Settlement) systems. When money is transfer from one account to another account then IFSC play an important rule with NEFT, RTGS and IMPS methods.


IFSC Code



Why Do We Need It?

The IFSC code finds its use in Online Banking Transactions. These Online Banking transactions might include payment of water and electricity bills, bus, train and flight reservations online. Apart from that IFSC is used in online shopping payments, share and equity payments and EMIs and Loan payments to count a few. In general, whenever money is transferred from one account to another, the transaction cannot be completed without IFSC.

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