Indian Financial System Code (IFSC) is an alpha numeric code designed to uniquely
identify the bank-branches in India.
This is 11 digit code with first 4 characters representing the banks code, the next character reserved as control character (Presently 0 appears in the fifth position) and remaining 6 characters to identify the branch.
The MICR code has 9 digits to identify the bank-branch.
IFSC is used by the NEFT system to identify the originating / destination banks / branches and also to route the messages appropriately to the concerned banks / branches.
Source: rbi.org.in
This is 11 digit code with first 4 characters representing the banks code, the next character reserved as control character (Presently 0 appears in the fifth position) and remaining 6 characters to identify the branch.
The MICR code has 9 digits to identify the bank-branch.
IFSC is used by the NEFT system to identify the originating / destination banks / branches and also to route the messages appropriately to the concerned banks / branches.
Source: rbi.org.in
