What is the full form of IFSC

IFSC: Indian Financial System Code

IFSC stands for Indian Financial System Code. IFSC code is an 11-digit alpha-numeric code used to identify bank branches within NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement) and IMPS (Immediate Payment Service) fund transfer system. We can easily indentify a bank and its branch from the given IFSC code.

IFSC code is mandatory for fund transfers from one bank account to another. Every bank branch will have a unique code.

Format of the IFSC Code:

First four characters represent the bank name
The fifth character is always 0 and is reserved for future use
Last six characters represent the branch code

For example, the IFSC code of one of the SBI branch is SBIN0001945:

SBIN is the bank name
001945 is the branch code.