IFSC code expanded as Indian Financial System Code (IFSC) is a unique identification code i.e. specific to a bank branch. The 11-digit alphanumeric code is provided to banks and their branches by the Reserve Bank of India (RBI) that participate in the electronic fund settlement systems, including national electronic funds transfer (NEFT) and real time gross settlement (RTGS). The official website of RBI includes the list of all the banks and branches that take part in electronic fund transfer along with their IFSC code.
IFSC code is made of 11 digits, first 4 alphabetic characters are indicative of the bank while the last seven digits that are generally numeric but can be alphabetic represent the bank-branch. The fifth character of the entire IFSC code is always a zero.
A typical IFSC code will look like :
HDFC0000206
whereas the first 4 alphabets serve to identify the bank and the last digits its branch which in this case refers to the T.Nagar branch in Chennai. In addition to this guidelines of RBI, IFSC code is also seen imprinted on the cheque books issued by NEFT-enabled banks to its customer base.