Indian Bank IFSC Code Finder
Indian Bank IFSC Code Finder
The Indian Financial System Code (IFSC) is a unique 11-character alphanumeric code used to identify bank branches that participate in the electronic funds transfer system in India. This code is used for interbank fund transfers through NEFT, RTGS, and IMPS. The Reserve Bank of India (RBI) is responsible for assigning IFSC codes to banks.
IFSC codes are crucial for electronic fund transfers because they ensure that the funds are transferred to the correct account at the correct bank branch. With the introduction of IFSC codes, electronic fund transfers have become faster, more secure, and more efficient.
To find the IFSC code of a bank branch, you can use the IFSC code finder tool. There are several websites and mobile apps that provide this service. To use the tool, you need to enter the bank name, state, district, and branch name. Once you enter this information, the tool will display the IFSC code of the bank branch.
Alternatively, you can find the IFSC code of a bank branch on the RBI website. The RBI has a master list of all the banks and their respective IFSC codes. You can search for the bank by name or by the location of the branch. Once you find the bank, you can view its IFSC code.
It is important to note that the IFSC code of a bank branch can change if the branch is merged with another branch or if the bank itself is merged with another bank. In such cases, the RBI will assign a new IFSC code to the bank branch. Therefore, it is important to check the IFSC code of a bank branch before initiating an electronic fund transfer.
In addition to IFSC codes, there are other codes that are used for electronic fund transfers in India. The National Electronic Fund Transfer (NEFT) code is used for transactions up to Rs. 2 lakhs. The Real Time Gross Settlement (RTGS) code is used for transactions above Rs. 2 lakhs. The Immediate Payment Service (IMPS) code is used for instant fund transfers.
Overall, the IFSC code finder tool is a useful tool for anyone who needs to initiate electronic fund transfers in India. By using this tool, you can ensure that your funds are transferred to the correct account at the correct bank branch.
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