The IFSC Code is the abbreviation of Indian Financial System Code. IFSC Code is 11 digit alphanumeric unique code used to describe each branch of banks in India. Now the question arise is, for what IFSC codes are used ?. Bank IFSC codes are mainly used for NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) transfer. IFSC can be found on the cheque book of individuals, firms and corporates too.
The first four letter of the IFSC code specifies the bank, next comes a Zero which is reserved for future use and the last six letters is the branch code