Banking services have played an important role in changing the world, shaping the economy and planning individual budgets. Not only this, it also plays an important role in the development of the country’s economy. In the present times, banking has made essential financial services accessible to the common people. Today’s digital era has also made banking digital. Now you can avail many banking services digitally with the help of your smartphone.
Today most of us have a bank account. After opening a bank account you get an IFSC code. This code is especially needed when people transfer money. At the same time, have you ever wondered what is IFSC code? If not then today we are going to tell you about this.
What is IFSC code?
IFSC Code means Indian Financial System Code. This is a special code of 11 digits. IFSC code is used to identify a specific branch of a bank.
IFSC code is especially required if you are transacting money between two bank branches. At the same time, do you know the meaning of 11 digits of IFSC code? If not then let us know about it.
What do the 11 digits of IFSC code mean?
The first four digits of the IFSC code are the letters of the alphabet. These four digits tell about the name of the bank.
The fifth digit is 0. This number is reserved for future use.
The last six digits give information about the bank branch.
You can find the IFSC code of your bank very easily. You can get IFSC code information by checking bank passbook. Apart from this, you can also check it on the check book or by going to the bank branch and can easily find out about the IFSC code.
