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Know all about IFSC Code

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IFSC is an acronym for Indian Financial System Code. IFSC code is a unique eleven-digit number which is a combination of alphabets and numerals. It is used to transfer funds online for NEFT, IMPS and RTGS transactions. Usually, the IFSC code can be found on the cheque-book provided by the bank. It can also be found on the front page of the accountholder’s passbook. The IFSC code of each bank branch is assigned by the Reserve Bank of India. The accountholders can easily check the IFSC code of their bank/branch on the Reserve Bank of India’s website. Internet banking transactions for transferring funds, using NEFT, IMPS and RTGS, can’t be initiated without a valid Indian Financial System Code.

Generally, there isn’t any change or update in the 11-digit IFSC code. Recently, the State Bank of India changed Indian Financial System Code of its branches all over the nation after the merger with five associate banks and 1 other bank.


 Importance of IFSC code

The points mentioned below highlight the importance of IFSC code.

  1. Unique Identification- It helps in identifying a particular bank branch
  2. Elimination Errors It helps to eliminate any discrepancy in the fund transfer process.
  3. Electronic Payments Made Easier- It used in electronic payment tools such as RTGS, IMPS, and NEFT.



Format for Bank IFSC Code

The first 4 characters of IFSC code are alphabets which represent the bank. The fifth character is zero (0). Usually, the last 6 characters are numbers but they can be alphabets as well and represent the bank branch. 

A B C D 0 1 2 3 4 5 6
Bank Code 0 Branch Code




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