Indian Financial System Code

The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the two main Payment and settlement systems in India: the Real Time Gross Settlement (RTGS) and the National Electronic Fund Transfer (NEFT) systems.^[1]

Format

The IFSC is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters (usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero) and reserved for future use. Bank IFS Code is used by the NEFT & RTGS systems to route the messages to the destination banks/branches.^[2] The format of the IFS Code is shown below.

Lists of IFS Codes

Bank-wise lists of IFS Codes are available with all the bank-branches participating in inter bank electronic funds transfer. A list of bank-branches participating in NEFT/RTGS and their IFS Code is available on the website of Reserve Bank of India.^[3] All the banks have also been advised to print the IFS code of the branch on cheques issued by branches to their customers.

The IFSC system is only for domestic transactions thus every bank branch in India irrespective of whether they are public sector, private sector or foreign banks will have an IFSC Code that acts as a unique identifier for the bank branch. In case of overseas remit systems, the international standard continues to be the SWIFT code, which is often not branch specific.

International Bank Account Number integration

Although the integration may be a complicated technical process for the financial institutions, it is expected that India will integrate the IBAN system by the end of 2016. More detailed description of the IBAN structure for the upcoming integration can be found on each bank's official website.

References

Banking in India
Reserve bank	Reserve Bank of India
Public sector banks	Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Post Bank of India Punjab & Sind Bank Punjab National Bank State Bank of India Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank
Private sector banks	Axis Bank Bandhan Bank Catholic Syrian Bank City Union Bank DCB Bank Dhanlaxmi Bank Federal Bank HDFC Bank ICICI Bank IDFC Bank IndusInd Bank Jammu & Kashmir Bank Karnataka Bank Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank Nainital Bank RBL Bank (Ratnakar Bank) South Indian Bank Tamilnad Mercantile Bank Limited Yes Bank
Cooperative banks	Buldhana Urban Cosmos Bank Repco Bank Saraswat Bank Shamrao Vithal Co-operative Bank TNSC Bank Rajkot Nagrik Sahakari Bank
Foreign banks	ABN AMRO Abu Dhabi Commercial Bank Antwerp Diamond Bank Australia and New Zealand Banking Group Bank Maybank Indonesia Bank of America Bank of Bahrain and Kuwait Bank of Ceylon The Bank of Tokyo-Mitsubishi UFJ Barclays Citibank India Credit Suisse DBS Bank Deutsche Bank HSBC Rabobank Royal Bank of Scotland Scotiabank Standard Chartered
Regional Rural Banks	Andhra Pradesh Grameena Vikas Bank Andhra Pragathi Grameena Bank Assam Gramin Vikash Bank Bangiya Gramin Vikash Bank Gramin Bank of Aryavart Kerala Gramin Bank North Malabar Gramin Bank Pallavan Grama Bank Pandyan Grama Bank Paschim Banga Gramin Bank Sarva UP Gramin Bank South Malabar Gramin Bank Uttar Bihar Gramin Bank Vananchal Gramin Bank List of regional rural banks in Uttar Pradesh
Interbank networks	Cirrus NFS PLUS
ATM networks	BANCS Cashnet CashTree India 1 ATM Indicash (White Label ATM) MITR
Electronic funds transfers	IMPS NEFT RTGS UPI AEPS
Cards	MasterCard Debit MasterCard Maestro RuPay Visa Visa Debit Visa Electron Visa payWave
Defunct banks	Alliance Bank of Simla Arbuthnot & Co Bank of Bombay Bank of Calcutta Bank of Chettinad Bank of Cochin Bank of Hindostan Bank of Madras Bank of Madura Bank of Rajasthan Bank of Thanjavur Bareilley Corporation Bank Bengal Central Bank Bharat Overseas Bank Bharatiya Mahila Bank Centurion Bank of Punjab Chartered Bank of India, Australia and China Commercial Bank of India Dass Bank Exchange Bank of India & Africa Global Trust Bank Grindlays Bank Hindustan Commercial Bank Imperial Bank of India ING Vysya Bank Lakshmi Commercial Bank Lord Krishna Bank Madhavpura Mercantile Cooperative Bank Mercantile Bank of India, London and China Miraj State Bank Nath Bank Nedungadi Bank New Bank of India Oriental Bank Corporation Oudh Commercial Bank Palai Central Bank Pandyan Bank Sikkim Bank State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Saurashtra State Bank of Travancore Times Bank United Industrial Bank United Western Bank
Related topics	ATM usage fees in India Banks Board Bureau Banking Codes and Standards Board of India Bharat Bill Payment System De-Materialisation (DEMAT) Foreign Exchange (FOREX) Indian Financial System Code (IFSC) List of banks in India National Payments Corporation of India Prepaid Payment Instruments in India Structured Financial Messaging System (SFMS)