ifsc code: adavantages and uses

Advantage of IFSC Code and its Uses

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IFSC Code is 11 character alpha-numeric code.

Indian Financial System Code is a unique code which is specifically assigned to all the banks.

It is used in Online Transaction. IFSC Codes are issued by the Reserve

Bank of India.

Advantages of IFSC Code:

NEFT Transactions: In National Electronic Funds Transfer.

RTGS Transactions: Real Time Gross Settlement where you can Transfer Funds.

IMPS Transactions: Immediate Payment System that is used through Mobile Banking.

Online Transactions through Net Banking. In the payment of all Bills and Booking

amounts online. Identification of the correct location/address

of the branch. Safe and Secure Transaction Fast Transactions in 2 hours.

Unique Identification for a particular branch of a bank.

Depicts the bank name and a branch code.

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