IFSC code -
Indian Financial System Code (IFSC) is an eleven digit code provided by the Reserve Bank of India (RBI) for identifying bank branches in India individually. This code is used for NEFT and RTGS.
The code consists of 11 characters. The first part is the first four alphabet characters represent the Bank. The next character is zero(0), which is reserved for use in the future. The last six characters are the branch code.
Use of IFSC code -
It is used to transfer funds online for NEFT, IMPS, and RTGS transactions.Format of IFSC Code -
The 11 character IFSC code is a combination of 3 essential components:- The first 4 characters represent the bank code
- The 5th character is a ‘0’
- The remaining 6 characters signify a specific branch code
Example of IFSC Code of State Bank of India, Usmanpur Kanpur branch.
| State Bank of India Code | Zero | State Bank of India Branch Code | ||||||||
| S | B | I | N | 0 | 0 | 0 | 3 | 7 | 5 | 2 |
In the above example (SBIN0003752), the first 4 characters ‘SBIN’ represent the bank code of SBI, the 5th character is ‘0’(Zero), and the last 6 characters ‘003752’ represent the branch code of Usmanpur, Kanpur, UP.
Importance of IFSC code -
IFSC code is the base of the Bank because It is must require for online fund transfer done via NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), and IMPS (Immediate Payment Service). So, whenever you transfer funds online, make sure you must have the IFSC code of the beneficiary’s bank along with the required details.Find the IFSC code -
You can find the IFSC code of your bank account from these ways -
1. You can check your
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| IFSC Code on ChequeBook |
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| IFSC Code on PassBook |
2. Or you can check by this link https://www.findbankifsccode.co.in
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| Click here |
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