Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates the
electronic transfer of funds in India provided by RBI. A code uniquely identifies each bank branch
participating in the three principal Payment and settlement systems in India:
- The Real-Time Gross Settlement (RTGS)
- National Electronic Fund Transfer (NEFT)
- Immediate Payment Service (IMPS)
The 11-character code of IFSC is as follows:
First 4 alphabetic characters- Bank name
The 5th character is 0 (zero) – Reserved for future use.
Last 6 characters (usually numeric, but can be alphabetic) – Branch name.
NEFT & RTGS systems use IFSC code to route the messages to the destination banks/branches. The
format of the IFS Code is as below.