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…
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