IFSC Code: What is IFSC Code? This important information is hidden about your bank..

IFSC code is mandatory for any work related to the bank. It is also called the Indian Financial System Code. It is a unique 11-digit number, which is distributed to each account holder separately.

Through the IFSC code, you can learn many details related to the bank.

What information do you get from the IFSC Code?

IFSC code is a unique 11-digit number, which shows different details of the bank-

This 11-digit number is made from the bank's identity, zero, and 6-digit branch code.

The first 4 codes help in identifying the bank.

For example, if it is SBI, then it will be represented by SBIN and if it is Canara Bank, then it will be represented by CNRB.

After this, a zero will be kept for future use.

After this, the remaining 6 numbers will show the bank branch.

Example -

Canara Bank- CNRB0000791

HDFC- HDFC0000003

ICICI- ICIC0000047

Why is the IFSC Code needed?

Paperless payment has been successful through the IFSC Code. Today we can make online payments through RTGS, IMPS, and NEFT through the IFSC Code. Through all these facilities, today customers can transfer money to different banks on the same date.

After the arrival of the IFSC Code, we no longer need checks or cash to transfer money. Today, through the IFSC code, you can make many important payments like electricity bills, loan EMI, and many other important payments.

Along with this, it protects against misuse. Through the IFSC code, you can easily trace your transaction. Apart from this, it prevents any mistakes while transferring money. Through the IFSC code, it can be easily found out where to send the requested amount. Through this, it becomes easy to identify the bank.

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