Indian Financial System Code: Difference between revisions

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

The '''Indian Financial System Code''' ('''IFSC''') is an [[alphanumeric code]] that uniquely identifies a bank-branch participating in the NEFT system. This is a 11 digit code with the first 4 [[alphabet]]ic 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. All the banks have also been advised to print the IFSC of the branch on [[cheque]]s issued by branches to their customers. For [[Online banking|net banking]] customers many banks have enabled online search / pop-up of the IFSC of the destination bank branch.

The '''Indian Financial System Code''' ('''IFSC''') is an [[alphanumeric code]] that uniquely identifies a bank11-branch participating in the NEFT system. This is a 11 digitcharacter code with the first 4four [[alphabetalphabetic]]ic 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 National Electronic Funds Transfer] {{Webarchive|url=https://web.archive.org/web/20110622122603/http://www.rbi.org.in/Scripts/neft.aspx |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 [[cheque]]s issued by branches to their customers. For [[Online banking|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]]