What is the full form of IFSC:

IFSC represents Indian Financial System Code.

It is a unique code for identifying all the branches of each and every bank present in India. This code is used while transferring money through NEFT (National Electronic Funds Transfer) or RTGS (Real Time Gross Settlement).

It is an alpha numeric code of 11 characters, which is printed on all the cheque books issued to the users of the bank. IFSC code can be derived if we have the following details of any particular bank: Name of the bank, state, district and the branch name.

IFSC code for each branch of each bank has a particular format which is mentioned here. Initial 4 letters are for the bank name; last 6 characters represent the branch number. The fifth character is always set as 0, as it is reserved for the future use. For example, the IFSC code for SBI Ayodhya Nagar Branch Bhopal is SBIN0005193. This code helps the customers to transfer money from any account of this branch to all over the country using the facility of NEFT and RTGS.

If we need to know the IFSC code of any particular branch, we can visit a website maintained by the Reserve Bank of India, which has a list of all the IFSC codes of all the branches of all the banks present in the country.