The Indian Financial System Code is a unique 11-digit alphanumeric code assigned to each bank branch in India. IFSC code is used to identify bank branches for facilitating electronic NEFT, IMPS and RTGS transactions. IFSC code is also required for performing certain financial transactions like direct deposit, online fund transfer, person-to-person transfer, payment against cheque and demand drafts.
Sometimes, while transferring amount to another account we wonder if we are transferring to a correct account or not. To be sure about the account you can use IFSC to bank Details finder app. In some Cases we know the bank details but we don't kno the IFSC code to transfer money, then use this Bank details to IFSC cond finder app.
Feachers Of IFSC Code:
For all the electronic or online funds transfer via NEFT, RTGS or IMPS, IFSC code is essential. IFSC code allows users to transfer money one account to another account easily.
RBI monitors all banking transactions with the help of IFSC code, reducing the chances of discrepancies.
IFSC code is unique for all banks and respective bank branches, so there are minimal chances to mismatch by customers.
How IFSC code looks?
IFSC code is a 11 digit identification number for banks, composed of letters and numbers
A
B
C
D
0
1
2
3
4
5
6
Code for Bank Name
Zero
Code for Branch Name
The first four digits repsents Bank Name
Fifth digit is "Zero". It is reserved for feature use.
Last 6 digi number denotes the respective Bank branch.
Importance of IFSC Code:
Banks and financial institutions have been asked to provide IFSC code on all their branches and offices. It is an 11 digit code that helps to identify bank branches. The code makes it easier and quicker to transfer money. The IFSC code is a part of the core banking solution (CBS) of the Reserve Bank of India (RBI). The CBS is a computer software that is used to manage the bank accounts of customers. It is a network that enables the banks to provide banking facilities to their customers. The 11 digit code is also known as the Indian Financial System Code or Indian Financial Services Code. The 11 digit code is unique for each bank and branches of the same bank. The code helps in identifying the bank branches and offices. The format of the code is “AAAA BB CC DDD”. The first 4 digits represent the bank, the fifth digit indicates the region, the sixth digit indicates the sub-region and the seventh to the eleventh digits are the branch code.
Why is IFSC Code required?
Bank Account and Credit Card Account details carry a account number. IFSC Code is the 10 digit code that identifies the bank branch where the account is opened. It is unique to each branch. It is a unique code which is also called Bank Identification Code (BIC) or SWIFT Code. The IFSC code can be used to transfer funds to a person's account in a different bank using RTGS,NEFT,IMPS or any internet banking system.
How to Search for IFSC Code?
Finding the IFSC code of any Banks in India is very easy with this free online bank details to IFSC code finder app.
You only have to select The Bank Name, The State where the bank is located, then select the District name, now choose the Brunch Name and click on the Find Now button.
Thats it! You will get your bank IFSC code instantly.
Reserve Bank of India:
Anyone can find IFSC codes on the official website of the RBI (Reserve Bank of India).
Cheque Book:
Cheques also have the perticular bank IFSC code, under the RTGS, NEFT and IMPS section:
