IFSC stands for....
A. International Federation Schools Standards
B. Indian Federation of Senior Citizens
A. International Federation Schools Standards
B. Indian Federation of Senior Citizens
C. The Indian Financial System Code
D. Indian Forests Service Commission
Ans: The Indian Financial System Code
More: The Indian Financial System Code is an alphanumeric code It helps to uniquely identify a bank-branch.It is generally used by banks for the two main Electronic Funds Settlement Systems in India: the Real Time Gross Settlement (RTGS) and the National Electronic Funds Transfer (NEFT) Systems.The Indian Financial System Code is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters representing the branch.
The fifth character is 0 and reserved for future use.
IFSC Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches.Baks are adviced to have bank IFSC code printed on cheque books.IFSC has helped in easing fund transfers across the country.List of IFSC codes are available both at the bank branches and websites as well as website of Reserve bank of INDIA.
The fifth character is 0 and reserved for future use.
IFSC Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches.Baks are adviced to have bank IFSC code printed on cheque books.IFSC has helped in easing fund transfers across the country.List of IFSC codes are available both at the bank branches and websites as well as website of Reserve bank of INDIA.
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