Date post: | 12-Apr-2017 |
Category: |
Economy & Finance |
Upload: | akaansha-sudhir |
View: | 71 times |
Download: | 7 times |
Overview
Indian Financial System Code is termed as IFSC Every branch of the bank has a unique code for its identity Reserve Bank of India has provided this 11 character code in
alphanumeric In Electronic Fund Transfer IFSC code plays a primary and main
role
Why IFSC Code ?
NEFT : National Electronic Fund Transfer Mechanism required IFSC code to transfer money without any limitation.
RTGS : Real Time Gross Settlement, where also IFSC code plays a major role. Reserve Bank of India (RBI) has announced that RTGS can be done only if the value is above 2 Lakhs.
IMPS : Immediate Mobile Payment Service also known as Interbank Mobile Payment Service which helps to transfer money 24*7 with correct IFSC code.
IFSC CODE
MICRCODE
How To Find IFSC Codes
All IFSC code has 11 character in which first four characters represent the particular bank name, fifth character is always zero (0) and the last six digit character will be the unique number for each and every branch.
All the banks are recommended to print the IFSC code in their cheque book.
IFSC code also helps to find the MICR code, SWIFT code and bank address.
Find all the details in a single page.
Simple Steps For You
Select your bank name
Select the state Select the district Select the branch