What is an IFSC Code?

The Indian Financial System Code (IFSC) is a unique 11-character code assigned by the Reserve Bank of India (RBI) to every bank branch in the country. This code is essential for identifying the originating and destination banks in an electronic funds transfer.

The Structure of an IFSC Code

An IFSC code has a specific structure:

• First 4 characters: Represent the bank's name (e.g., SBIN for State Bank of India).
• Fifth character: Is always a zero (0), reserved for future use.
• Last 6 characters: Represent the specific branch code.

How to Use IFSC for Transactions

When making an online payment via NEFT, RTGS, or IMPS, you must provide the beneficiary's bank account number and the IFSC code of their bank branch. This ensures the money is routed to the correct branch and account securely.