Full Form of IFSC
Indian Financial System Code
IFSC Full Form is Indian Financial System Code. It is a code allocated by the Reserve Bank of India or RBI in order to provide unique identification for every bank in India. It normally has 11 characters and applies to banks that belong to the NEFT system. This code is mainly used for various types of transactions such as NEFT, RTGS and CFMS.
The initial 4 characters or the first part of the IFSC code represents the Bank. The 5th character, which is normally a zero, is kept for future use. The last 6 characters refer to the particular bank code. This code is supposed to be printed in the cheque books of the banks. However, one can easily identify the IFSC code by typing the name of the bank and the location in any of the search engines that are relevant.
