BANKING AFFAIRS

Detailed explanation-1: -It is a 11-digit alpha-numeric code that uniquely identifies a bank branch participating in any RBI regulated funds transfer system. The IFSC code helps to transfer money using RTGS, NEFT or IMPS method. The first 4 digits of the IFSC represent the bank and last 6 characters represent the branch.

Detailed explanation-2: -IFSC (Indian Financial System Code) is an 11 digit alphanumeric code that is used to identify the bank branch of your account. The first 4 characters of the IFSC code represent the name of the bank, the fifth character is 0 and the last 6 numbers define the branch code of the bank.

Detailed explanation-3: -Ans: Indian Financial System Code (IFSC) is an alpha-numeric code that uniquely identifies a bank-branch participating in the NEFT system. It is a 11-digit code with the first 4 alpha characters representing the bank, and the last 6 characters representing the branch.

Detailed explanation-4: -The IFSC is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use.

Detailed explanation-5: -The Indian Financial System Code is an 11-digit alpha-numeric code that is unique for bank branches that offer online money transfer options. The code is used to identify the bank branch on the National Electronics Funds Transfer (NEFT) network.