IFSC means Indian Financial System Code. The Indian online payment systems like NEFT and RTGS requires IFSC code to locate the branch in which transaction is to be done. These code are directly used by RBI (Reserve Bank of India) to facilitate various interbank transactions. A IFSC Code contains 11 characters – for example – ICIC0001245
Explanation of various elements of IFSC Code
- The first 4 characters represent the bank or entity (ICIC0001245) – In this case it is ICICI Bank
- Fifth position is right now unused and is left of future use. The default value is 0.
- Last 6 characters are digits and identify the branch ( ICIC0001245 ) – In this case it is Worli, Mumbai branch of ICICI Bank
Find the IFSC Code of all the banks in India, just click on the bank link and search the IFSC code of your bank
Foreign Banks in India
Subsidiaries of State Bank of India: