What is IFSC code?Unique features of Indian Financial System Code or IFSC Codes can be explored for many banking transactions and other associated factors with whom they are keenly linked with. The Indian Financial System Code (also known as IFSC) is a 11 charater code for identifying the bank and branch which an account is held. The IFSC code is used both by the NEFT and RTGS finance transfer systems.
What is NEFT?
National Electronic Funds Transfer (NEFT) is a nation-wide system that facilitates individuals, firms and corporates to electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country.
What is RTGS?
'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting).
Know your bank's IFSC code here...
- http://www.ifsccodebank.com/
- http://bankifsccode.com/
- http://www.ifsc-code.com/
- http://www.ifsc-code.com/
- http://www.ifsc.in/
Thanks a lot for this post man! I always used to wonder what IFSC code is all about. I am clear now thanks
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