What is IFSC code ?

           Now a days we all are using mobile banking & Internet Banking  for transferring  money. While doing that, we always use a code called IFSC. We  don't know what is that code refers to, but we are using that every time. In this post I just want to say you what is that code. 

          IFSC stands for  Indian Financial System Code.  That is used to Identify the particular Bank & Branch with which that account number belongs to. 

        IFSC code is a 13 characters alpha numeric code. In that,

•  First four characters represent the entity. That refers to Bank Name/Bank code. For example if it is State Bank of India IFSC code, it will starts with SBIN. 
• Fifth character is always '0' (zero), it is reserved for future use. 
• Remaining 6 Characters belong to Branch.  For example SBI has lot of branches over the  world which are identified by its unique code (ex: 012950)

A Complete IFSC code will look like this:  SBIN0012950 

Tags: IFSC Code, What is IFSC

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