How can you find out your IFSC Code Know what is its importance – How can you find out your IFSC Code? Know what is its importance
How to find IFSC code: IFSC code i.e. Indian Financial System Code is very important for the banking sector. This code is given to every bank account holder. Without this, the banking transaction remains incomplete. Actually there are different banks in our country and then they have many branches.
In order to simplify the banking system, Reserve Bank of India (RBI) has arranged IFSC code for each bank and its branch. This code is of 11 digits. In which the first four characters represent the name of the bank and the fifth character is usually zero (0).
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This code is used in National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS). That is, this code identifies the bank brand offering various online transfer services like IMPS, NEFT and RTGS.
Many a times it happens that customers are not even aware that how can they find their IFSC Code? It is very easy to find this code. You can find out about this through the website of the bank.
It is even easier that you can find out through your bank account passbook or check book. Apart from this, if you do internet banking, then this code is detected after logging in. Several banks have merged in recent years following which new IFSC codes have been issued to the customers.
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