The Indian Financial System Code (IFS Code or IFSC) is an
alphanumeric code that facilitates
electronic funds transfer
Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of b ...
in India. A code uniquely identifies each bank branch participating in the three main
Payment and settlement systems in India: the
National Electronic Funds Transfer
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Bankin ...
(NEFT),
Real Time Gross Settlement (RTGS) and
Immediate Payment Service (IMPS) systems.
Format
The IFSC is an 11-character code with the first four
alphabetic
An alphabet is a standardized set of basic written graphemes (called letters) that represent the phonemes of certain spoken languages. Not all writing systems represent language in this way; in a syllabary, each character represents a syllab ...
characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use. Bank IFS Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches.
The format of the IFS Code is shown below.
Lists of IFS Codes
Bank-wise lists of IFS Codes are available with all the bank-branches participating in inter bank electronic funds transfer. A list of bank-branches participating in NEFT/RTGS and their IFS Code is available on the website of the
Reserve Bank of India
The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible f ...
.
National Electronic Funds Transfer
Reserve Bank of India All the banks have also been advised to print the IFS code of the branch on cheque
A cheque, or check (American English; see spelling differences) is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The pers ...
s issued by branches to their customers.
See also
* List of financial regulatory authorities by country
The following is an incomplete list of financial regulatory authorities by country.
List
A-B
* Afghanistan - Da Afghanistan Bank (DAB)
* Albania - Albanian Financial Supervisory Authority (FSA)
* Algeria - Commission d'Organisation et de ...
References
* https://www.npci.org.in/national-automated-clearing-live-members-1
* https://rbidocs.rbi.org.in/rdocs/RTGS/DOCs/RTGEB0815.xlsx
* https://rbidocs.rbi.org.in/rdocs/content/docs/68774.xlsx
External links
Find IFSC of Banks' Branches
on Reserve Bank of India's Website
List of NEFT Enabled Bank Branches
(with IFSC) on Reserve Bank of India's Website
{{Banking in India
Banking in India
Real-time gross settlement
E-commerce in India
Financial routing standards
Standards of India