What is IFSC Code?
The Indian Financial System Code (IFSC) is an alphanumeric code that uniquely
identifies a bank-branch participating in the three main electronic funds settlement systems in India:
- the Real Time Gross Settlement (RTGS)
- the National Electronic Funds Transfer (NEFT)
- the Immediate Payment Service (IMPS)
This is an 11-character code
with the first four alphabetic characters representing the bank,
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. IFSC is used by the NEFT & RTGS
systems to route the messages to the destination banks/branches.
IFSC Code: 11 Characters
- 1-4: Alphabetic - Bank Code. This will be same for all branches of a particular bank. e.g. ICIC for ICICI bank, SBIN for State Bank of India
- 5: This value is currently set to 0 (zero) and is reserved for future use.
- 6-11: Final six characters denote the branch. This is usually numeric, but alphabets or alphanumeric codes are allowed too.