Search bank IFSC Code list and address of bank branches in India
You must have pondered about what does IFSC code means while transferring the money or any online payment. Do you know every bank branch have different IFSC Code which is a blend of both mathematical letters and numbers?
Every branch of can be recognized with the help of their exclusive IFSC code. Normally, begins with the first four letters of the bank name, followed by seven numbers. The sample format of IFSC Code is ABCD0123456.
Anyone can search IFSC code either using Masters India or via bank's cheque and passbook. You need to follow the following simple procedure to search
Note: Every branch has its own exclusive IFSC Code
IFSC, Indian Financial System Code, is an alphanumeric 11 digits unique code assigned by Reserve Bank of India (RBI) to identify every bank branch in India effortlessly. The main idea behind the introduction of the IFSC code was to enable hazel-less inter-bank electronic funds transfer.
For instance, if a person has two accounts in different branches of the same bank, then in such case IFSC number will differ for each bank branch.
The format of this 11 digits alphanumeric code is as follows:
In case you do not want to use Demand Drafts or cheques, you should know IFSC number of both the transferring and the transferee bank branch to transfer funds electronically. There are thousands of bank branches spread across the country that participate in the electronic fund transfer.
The electronic fund transfer can take place via Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) and Immediate Payment System (IMPS). These are the safer, speedier and lesser cumbersome systems of money transfer when compared with other traditional modes of money transfer such as cheques.
Generally, banks do not update or change their IFSC codes unless there is amalgamation/merger. For instance, State Bank of India (SBI) recently changed IFSC codes of all the branches across India, after five associate banks and one other bank merged with it.
Now let us see some key features of the IFSC code:
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