IFSC Code

IFSC Code

IFSC code is the acronym that stands for Indian Financial System Code. In the Structured Financial Messaging System (SFMS),it is being used as the addressing code in user-to-user message transmission. The Payment System Applications such as RTGS, CFMS and NEFT developed by the Reserve Bank of India use these codes. Without the IFSC code the fund transfers through RTGS is not possible. Some times to add a beneficiary in net banking we require IFSC code. IFSC code is a unique digit identifying the branch names of the different banks.