Friday, May 21, 2010

Meaning of IFSC Code

                      Meaning of  IFSC code is Indian Financial System Code.  IFSC code is being used as the address code in one user to another user.  RTGS and NEFT payment system of Reserve Bank of India (RBI) use these codes. IFSC code consists 11 Characters identified as under:-

  1. First 4 digits shows the Identity.
  2. 5th digits in default as ZERO (for future use)
  3. Last 6 Characters display the Branch Identity.
                     IFSC (Indian Financial System Code) is excellent unique code for International electronic payment system

Read More regarding IFSC,MICR, NEFT  and RTGS codes Click Here

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