Indian Financial System Code.


IFSC CODE AND IT’S STRUCTURE


What is IFSC Code ?

Definition:-When we transfer fund from one bank to another bank through NEFT, RTGS  and UPI then we need account number as well as the IFSC code. IFSC code is an alphanumeric code of 11 digits.This is a small address of your bank branch.The full form of IFSC code is Indian Financial System Code.



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  What Information are there in IFSC code?



         (i)  The First four characters are alphabetic that representing the Bank name. i.e. BARB ( Bank of Baroda)

   (ii)  The fifth character is always zero (o). It is zero in all the Bank’s IFSC code.

  (iii)  The last six characters identify the branch, which is different for each branch. i.e. GULZAR

Example
                     IFSC CODE:-   BARB0GULZAR
      

                     BARB :-  is representing bank name (Bank of Baroda)

                     0 :- fifth character is default zero

                     GULZAR :- is representing the branch (Gulzarbagh Branch Patna CityBIHAR)

                     IFSC  Code is the code of a branch of the bank, by this code the RBI (Reserve Bank of India) and our banking system identify source and destination branches.