Indian Financial System Code: Difference between revisions

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{{short description|Unique identifier for a branch of a financial institution in India}}

IFSC or Indian Financial System Code is an alpha-numeric code that uniquely identifies a bank-branch participating in the NEFT system. This is a 11 digit code with the first 4 alphabetic characters representing the bank, and the last 6 characters (usually numeric, but can be alphabetic) representing the branch. The 5th character is 0 (zero). IFSC is used by the NEFT system to route the messages to the destination banks / branches.<ref>[http://www.rbi.org.in/scripts/FAQView.aspx?Id=60 Reserve Bank of India]</ref>

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 [[National Electronic Funds Transfer]] (NEFT), [[Real Time Gross Settlement]] (RTGS) and [[Immediate Payment Service]] (IMPS) systems.<ref>{{cite web|title=RTGS/NEFT - FAQ|url=https://www.onlinesbi.com/osbi_rtgs_faq.html|website=onlinesbi.com|publisher=[[State Bank of India]]|access-date=2 August 2012|page=question 9|url-status=dead|archive-url=https://web.archive.org/web/20120416231117/https://www.onlinesbi.com/osbi_rtgs_faq.html|archive-date=16 April 2012}}</ref>

==Format==

Bank-wise list of IFSCs is available with all the bank-branches participating in NEFT. List of bank-branches participating in NEFT and their IFSCs is available on the website of Reserve Bank of India at http://www.rbi.org.in/scripts/neft.aspx or can be searched at http://banks-india.com/ifsc-code.php . All the banks have also been advised to print the IFSC of the branch on cheques issued by branches to their customers. For net banking customers many banks have enabled online search / pop-up of the IFSC of the destination bank branch.

The IFSC or Indian Financial System Code is an alpha11-numeric code that uniquely identifies a bank-branch participating in the NEFT system. This is a 11 digitcharacter code with the first 4four [[alphabetic]] characters representing the bank name, and the last 6six characters (usually numeric, but can be alphabetic) representing the branch. The 5thfifth character is 0 (zero) and reserved for future use. IFSCBank IFS Code is used by the NEFT system& RTGS systems to route the messages to the destination banks / branches.<ref>[{{cite web |title= FAQs : NEFT system |url= http://www.rbi.org.in/scripts/FAQView.aspx?Id=60 |publisher= Reserve Bank of India] |access-date= 2 August 2012 |date= 31 January 2012 |archive-date= 4 August 2012 |archive-url= https://web.archive.org/web/20120804063153/http://www.rbi.org.in/scripts/FAQView.aspx?Id=60 |url-status= dead }}</ref>

The format of the IFS Code is shown below.

{| width="90%" class="wikitable" style="text-align:center;"

|-฿

! 1 !! 2 !! 3 !! 4 !! 5 !! 6 !! 7 !! 8 !! 9 !! 10 !! 11

|-

| colspan="4" | Bank Code

| 0

| colspan="6" | Branch Code

|}

==Lists of IFS Codes==

Bank-wise listlists of IFSCsIFS isCodes are available with all the bank-branches participating in NEFTinter bank electronic funds transfer. ListA list of bank-branches participating in NEFT/RTGS and their IFSCsIFS Code is available on the website of the [[Reserve Bank of India at ]].<ref>[http://www.rbi.org.in/scripts/neft.aspx orNational canElectronic beFunds searched atTransfer] {{Webarchive|url=https://web.archive.org/web/20110622122603/http://banks-indiawww.comrbi.org.in/ifsc-codeScripts/neft.phpaspx .|date=2011-06-22 }} Reserve Bank of India</ref> All the banks have also been advised to print the IFSCIFS code of the branch on cheques[[cheque]]s issued by branches to their customers. For net banking customers many banks have enabled online search / pop-up of the IFSC of the destination bank branch.

==See also ==

* [[List of financial regulatory authorities by country]]

==References==

{{reflist}}

* <small>https://www.npci.org.in/national-automated-clearing-live-members-1</small>

* <small>https://rbidocs.rbi.org.in/rdocs/RTGS/DOCs/RTGEB0815.xlsx</small>

* <small>https://rbidocs.rbi.org.in/rdocs/content/docs/68774.xlsx</small>

== External links ==

*[https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx Find IFSC of Banks' Branches] on Reserve Bank of India's Website

*[https://m.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2009 List of NEFT Enabled Bank Branches] (with IFSC) on Reserve Bank of India's Website

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{{Banking in India}}

[[Category:Banking in India]]

[[Category:Real-time Timegross Gross Settlementsettlement]]

[[Category:Electronic E-commerce in India]]

[[Category:Financial routing standards]]

[[Category:Standards of India]]

<references />