{"id":745,"date":"2019-05-06T11:21:23","date_gmt":"2019-05-06T05:51:23","guid":{"rendered":"https:\/\/rzplearn.com\/?p=745"},"modified":"2024-12-17T06:22:59","modified_gmt":"2024-12-17T00:52:59","slug":"find-ifsc-code","status":"publish","type":"post","link":"https:\/\/razorpay.com\/learn\/find-ifsc-code\/","title":{"rendered":"Find IFSC Code for transactions"},"content":{"rendered":"

The Indian Financial System Code (IFSC or IFS Code) is what facilitates all electronic transfers in India. Its function is to help identify the specific bank branch that an account is set up in. Currently, there are over 150,000 IFSC Codes operating in India, with more than 1,400 banks all over the country. The code itself is an alphanumeric one, with 11 characters. In this article, we will go over everything you need to know about the IFS code and how it works. <\/span><\/p>\n

How to find your IFSC Code?<\/span><\/h2>\n

Finding your IFSC is quite simple. All you need to do is go to the website of the Reserve Bank of India and look through the list of codes posted there. Conversely, you can also look at the cheque book<\/a> issued to you by your bank as the IFS Code is generally mentioned there. Various third-party websites that deal with banking information and finance also post information about these codes and you can look through their lists too. <\/span><\/p>\n

What does the IFSC Code mean?<\/span><\/h2>\n

The IFSC<\/a> has a very specific format and each number represents something. As stated earlier, the code is an alphanumeric one with 11 characters. The first 4 characters generally help computers identify the name of the bank involved in the transaction. These characters are alphabetical. The fifth character in the code is 0. This is a standardized format as this character is reserved for future use. The remaining characters represent the branch of the bank that is used. This part of the code helps systems route payments to the right branches during NEFT<\/a> and RTGS transactions. These digits are more often than not numerical, however, sometimes they can have alphabetic components too. While the first 4 characters that identify the bank are assigned by RBI, the branch component is entirely left to be decided by the bank itself.<\/span><\/p>\n

How does the IFSC Code help with RTGS transactions?<\/span><\/h2>\n

RTGS transactions<\/a> work in the following way:<\/span><\/p>\n