IFSC is an acronym for Indian Financial System Code. IFSC is a unique eleven-digit number which is a combination of alphabets and numerals assigned to each bank branch in India for enabling easy identification of the said branch.

IFSC is used to transfer funds online for National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS), and Real-Time Gross Settlement (RTGS) transactions. Usually, the IFSC 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 of each bank branch is assigned by the Reserve Bank of India(RBI).

The account holders can quickly check the IFSC code of their bank/branch on the Reserve Bank of India’s website (https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx). Internet banking transactions for transferring funds using NEFT, IMPS, and RTGS can’t be initiated without a valid Indian Financial System Code.

IFSC is based on the pattern followed by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

The IFSC is an alphanumeric number comprising of 11 characters: the first four identifying the bank, the fifth is numeric (kept 0) and the last six characters identify the bank branch.