IFSC: Indian Financial System Code
IFSC Full Form
IFSC full form is the Indian Financial System Code. It is an alphanumeric code that facilitates electronic remittances in India. It is an 11-character alphanumeric code used to identify every branch of every bank in India.
This code uniquely identifies each bank branch participating in India’s three main payment and settlement systems: National Electronic Transfer System (NEFT), Real Time Gross Settlement (RTGS), and Instant Payment Service (IMPS). You can easily select banks and their branches from the given IFSC codes.
IFSC is an 11-character code. The first four letters of the alphabet represent the name of the bank, and the last six characters (usually numbers, but can be alphanumeric) represent branches. The fifth character is 0 (zero) and is reticent for later use.
NEFT and RTGS systems use IFS bank codes to route messages to the target bank/branch. The code is specified in the checkbook and is the code required for transfers via NEFT or RTGS.
What Is The Full Form Of IFSC?
IFSC full form is Indian Financial System Regulations. It is an 11-digit code written in the alphanumeric format used to identify branches in the National Electronic Funds Transfer (NEFT). This code is clearly mentioned in the checkbook.
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