IFSC Code
Definition
An 11-character code identifying a specific bank branch in India's payment systems.The Indian Financial System Code (IFSC) is an 11-character alphanumeric code that uniquely identifies a bank branch participating in NEFT, RTGS and IMPS. The first four characters are the bank code and the last six identify the branch. It is required to route an electronic transfer to the correct branch.
Related guides
Related terms
- NEFT (National Electronic Funds Transfer) — An RBI electronic transfer system that settles transactions and now operates 24x7.
- RTGS (Real Time Gross Settlement) — An RBI system for high-value transfers settled individually in real time; 24x7.
- IMPS (Immediate Payment Service) — An instant interbank transfer service available 24x7, run by NPCI.
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