Indian Financial System Code: Difference between revisions

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

{{unreferenced|date=April 2010}}

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>

The '''Indian Financial System Code''' (also known as '''IFSC''') is a code for identifying the bank and branch which an account is held. The IFSC code is used both by the [[Indian Settlement Systems#Real Time Gross Settlement|RTGS]] and [[Indian Settlement Systems#National Electronic Fund Transfer|NEFT]] finance transfer systems.

==Format==

{{finance-stub}}

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.<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==

[[Category:Real Time Gross Settlement]]

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 the [[Reserve Bank of India]].<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 IFS code of the branch on [[cheque]]s issued by branches to their customers.

[[Category:Electronic commerce]]

==ExternalSee also links==

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

==References==

*[http://www.bankifsccode.com Find IFSC Code of all branches in India, or Branch Details by IFSC Code]

{{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]]