Banking system has made money transactions easy all over the world, different types of banks are present in all countries and banks also have an important code, which we know by the name of IFSC code, maybe you will not know. What is IFSC Code.
By the way, as far as withdrawing money, it can be withdrawn normally, whether it is withdrawing from the bank or any other method, but when it comes to transferring money, we asked for bank details as well as IFSC code. However, if you transact through upi or any other method in the same method, IFSC code will not be required.
But when transferring directly to a bank account, whether you are doing it from anywhere or by any method, you will need the IFSC code of the bank account to which you want to transfer money, and if you have that bank account. If you do not have IFSC code, you can also find out its IFSC code online, but let us first get information about what is IFSC code.
What is IFSC Code
The full form of IFSC is Indian Financial System Code , that is, a code that is used for financial transaction, this code is dedicate to a specific bank or branch.
IFSC code is a code that is available for financial transactions in banks, if money is to be transferred directly to a bank account by any means, IFSC code is required, although that person must also have a bank account. In whose account the transfer is to be made, but the IFSC code verifies the id of that bank or branch, in which the transaction is to be done.
The IFSC code of all the branches of a bank may be the same, and may also be different, although all the branches of most banks have different IFSC codes, but the IFSC codes of the branches of some banks are the same. Therefore, at the time of transaction, it should be kept in mind that IFSC code should be of the same branch in which you want to transfer money.
IFSC Code is of how many digits?
IFSC code is of 11 digits, not just any one bank but IFSC code of all banks are of 11 digits, and in all these “0” is a number and many people do not pay attention to this thing, because The entire IFSC code has only alphabate except “0”, so those who do not know, take it as “O” instead of zero.
The most common thing about IFSC code is that in the IFSC code of all banks, the first 4 character is the bank code, and then “Zero” and then the branch code.
So in this the first 4 character alphabate and after that “Zero” and after that anything can happen in the branch code, it depends what is the code of that branch, like if we talk about “Bank of Baroda” then it is mostly Branch code uses branch location, which are alphabates but most banks like SBI, HDFC, use numeric codes instead of using that location as branch code.
No bank can create any other type of IFSC code on its own, rather all banks have to create their own IFSC code on the same basis, as we have mentioned above because all banks also have to follow the guidelines of rbi. Banking system does the same work only because of rbi, because rbi is the bank of the banks, all the banks do their business by following rbi.
how to find ifsc code
There are many ways to know the IFSC code of any bank, whichever method you find easy, you can find out the IFSC code, the first option is passbook, when you open your account in any bank, you Passbook is available, in which along with the information related to your account, there is some basic information of the bank as well as IFSC code, so you can find the IFSC code of your bank branch from your passbook.
But if the IFSC code is not printed on your passbook, you can go to the branch and find out the IFSC code, but the easiest way is internet, you can also find the IFSC code of any bank online.
By the way, there are many websites available on which you will get IFSC codes of banks, all you have to do is to search in google the IFSC code of that bank, whose IFSC code you want to find.
In this article, you have learned what is IFSC Code and what is the full form of IFSC Code, we hope this information will prove useful to you.