Indian Financial System Code

The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT) and Immediate Payment Service (IMPS) systems.[1]

Format

The IFSC is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use. Bank IFS Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches.[2] The format of the IFS Code is shown below.

1234567891011
Bank Code 0 Branch Code

Lists of IFS Codes

Bank-wise lists of IFS Codes are available with all the bank-branches participating in inter bank electronic funds transfer. A list of bank-branches participating in NEFT/RTGS and their IFS Code is available on the website of Reserve Bank of India.[3] All the banks have also been advised to print the IFS code of the branch on cheques issued by branches to their customers. Many third party web portals now allow lookup of IFS Codes online. Customers can search for the IFS Code of their bank-branch with a single or a combination of criteria like bank name, state, district, city, branch etc.

References
  1. "RTGS/NEFT - FAQ". State Bank of India. p. question 9. Archived from the original on 16 April 2012. Retrieved 2 August 2012.
  2. "FAQs : NEFT system". Reserve Bank of India. 31 January 2012. Retrieved 2 August 2012.
  3. National Electronic Funds Transfer Reserve Bank of India


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