Glossary · Banking & Finance
IFSC
Indian Financial System Code — an 11-character alphanumeric code that uniquely identifies a bank branch for electronic fund transfers in India.
IFSC is regulated by the Reserve Bank of India and assigned to every bank branch participating in electronic payment systems (NEFT, RTGS, IMPS). The code structure is AAAA0000000 (4 bank letters, 0, 5 branch alphanumeric). It is mandatory for any NEFT, RTGS, or inward remittance. The IFSC for a branch can be found on the bank passbook, cheque book, or the RBI website. The IFSC is not required for UPI or IMPS transfers which use the bank account number and MMID or mobile number.
Examples
A factory worker remitting money home uses IFSC HDFC0001234 to ensure the money reaches the specific branch of the recipient's HDFC account.