Keyword Analysis & Research: state bank of india ifsc

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What is IFSC in banking?

IFSC (Indian Financial System Code) is a unique 11 digit alphanumeric identification code which is specific to a bank branch. It is assigned by Reserve Bank of India to bank branches that participate in electronic fund settlement system like NEFT and RTGS to give them unique identity.

What is an IFSC code in India?

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 two main Payment and settlement systems in India: the Real Time Gross Settlement (RTGS) and the National Electronic Fund Transfer (NEFT) systems.

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