Type IFSC Code To Know Bank Branch Details
The IFSC code, also known as Indian Financial System Code, is an alphanumeric code used to uniquely identify bank branches in India participating in the electronic funds transfer system. The code is 11 characters long and consists of a combination of letters and numbers.
The IFSC code is used to facilitate electronic funds transfer between banks within India. It is a crucial component of online banking, mobile banking, and other forms of digital payment services. The code is required when transferring funds from one bank account to another, and it ensures that the funds are credited to the intended recipient's account.
The first four characters of the code represent the bank code, followed by a zero (0) and the last six characters represent the branch code. For example, in the IFSC code "SBIN0001234", "SBIN" represents the bank code for State Bank of India and "0001234" represents the branch code.
The IFSC code is used to facilitate electronic funds transfer between banks and is required when making online transactions such as NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service) transactions in India.
IFSC code lookup is a process of searching for the unique IFSC code of a specific bank branch. It can be done through various online platforms such as the Reserve Bank of India's (RBI) website, the National Payments Corporation of India (NPCI) website, or through individual bank's websites.
IFSC code lookup is required when initiating electronic fund transfers (EFT) such as NEFT, RTGS, and IMPS. It is important to have the correct IFSC code of the beneficiary bank branch while making such transactions to ensure the successful transfer of funds.
To perform an IFSC code lookup, one needs to have the name of the bank, the branch location, and the state where the branch is located. With this information, one can easily find the IFSC code of the particular bank branch through various online portals. Many banks also provide their customers with the IFSC code of their respective branches on their official website, mobile banking apps, and other digital platforms.
