IFSC: India financial system code
What is it: An
11-digit alphanumeric (letters and numbers) code that helps identify bank
branches. The first four numbers represent the bank’s code (alphabetic), the
fifth number is a control character (0), and the next six numbers denote a bank
branch. For example, the IFSC for HDFC Bank Ltd’s Colaba branch in Mumbai reads
as HDFC0000085. This code is mentioned on your cheque. Different banks mention
it at different places on the cheque.
When do you need it: When sending money through RTGS or NEFT, you
need to know the IFSC of the receiving branch
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