IFSC is a unique code that is assigned to all the banks present at various parts of the country. This 11
character code can be used for identifying the name of the bank as well as the branch in which the
account is held. Being a unique code, it differs from branch to branch for even the same bank. The
code plays a key role in financial transactions, which are done via internet banking i.e. RTGS, NEFT or
If a user has to transfer money to any other user, it is essential for him to know the
IFSC code of the branch in which the money is going to transferred. Also, IFSC code is required when
you add a beneficiary to your account while performing online monetary transactions. Note – Not all
bank branches have IFSC Codes.