An IFSC code is an extremely important 11 digit code which is provided by the Reserve Bank of India in order to identify the individual bank branch in the country. The code is used by RTGS as well as NEFT. The 11 character code has the first 4 characters representing the bank, the next character is zero and the last six include the branch code.
An RTGS or Real Time Gross Settlement is a form of fund transfer system which is used to transfer the money from one bank to another. An NEFT or National Electronic Fund Transfer is an online fund transfer supported by the Reserve Bank of India and is used for small and medium amount transfer between accounts and banks. Lastly, an IMPS or Immediate Payment Service is an instant interbank electronic fund transfer system which is also supported by the RBI and is a mobile based system available on all days except for holidays.
Many a times it becomes difficult to search for the IFSC code for your Bank. In order to carry out an RTGS or NEFT, it important to have access to the IFSC code.You can simply find the IFSC code with four simple steps. With the use of the drop down list below, you can select your bank, select the state, then select the district and finally select the branch of the bank in order to find the IFSC code.