Banking services have played an important role in changing the world, shaping the economy and creating a personal budget in a planned manner. Not only this, it also plays an important role in the development of the economy of the country. At present, banking has made the necessary financial services accessible to the common people. Today’s digital age has also made banking digital. Now you can take digital advantage of many banking services 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 especially needs when people transfer money. At the same time, have you ever wondered what is the IFSC code? If not, today we are going to tell you about this.
What is the IFSC code?
IFSC code means Indian financial system code. This is a special code of 11 digits. The IFSC code is used to identify a specific branch of a bank.
If you are transacting money between two bank branches, the IFSC code is particularly required. At the same time, do you know the meaning of 11 digits of IFSC code? If not, then let’s know about it.
What does 11 digits of IFSC code mean?
The first four digits of the IFSC code are the alphabet letters. 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 information about IFSC code by checking bank passbook. Apart from this, you can also check it on the checkbook or you can easily find out about the IFSC code by going to the bank branch.
