IFSC code stands for Indian Financial System Code which is a special code assigned by RBI (reserve Bank of India) to various bank’s branches. IFSC code is generally a 11 digit code which has been properly formatted according to RBI rules and bank branch locations. The first 4 characters mention the bank name and works like the abbreviation of the bank while the 5th character is known as the control character and the rest 6 characters represent the bank branch code.
IFSC codes are required while making wire transfers, depositing money on someone’s account using internet banking or even transferring Paypal money to bank account.Using the IFSC code, the sender confirms the original location, bank and branch of the person.
You can find the complete list of IFSC code of banks such as Allahabad Bank, Andhra Bank, Axis Bank, Bank of America, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, CITI Bank, Corporation Bank, Dena Bank, HDFC, HSBC, ICICI Bank, IDBI Ltd, Indian Bank, Indian Overseas Bank, Indusland, ING Vysya, Karnataka Bank, Karur Vysya, Kotak Mahindra Bank, Oriental Bank of Commerce, Punjab National Bank, South Indian Bank, Standard Chartered, State Bank of India (SBI), Syndicate Bank, The Federal Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank and many others. You can find a complete list of IFSC codes on RBI website, here.
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