IFSC Code: A Comprehensive Guide to Understanding and Locating Your Bank’s IFSC Code
The Indian Financial System Code (IFSC) plays a crucial role in India’s banking ecosystem. This alphanumeric code helps to identify individual bank branches that participate in online money transfers through platforms like NEFT, RTGS, and IMPS. Whether you’re transferring funds or processing a bank-related transaction online, understanding the IFSC code is vital for ensuring smooth, accurate, and secure financial exchanges.
In this guide, we delve deeply into what the IFSC code is, how it works, and how to locate it effectively.
What is an IFSC Code?
The IFSC code is an 11-character code assigned by the Reserve Bank of India (RBI) to each bank branch. This unique identifier enables efficient routing of money transfers, ensuring that the funds reach the correct destination.
An IFSC code consists of three primary parts:
- First Four Characters: Represent the bank code, such as “SBIN” for State Bank of India.
- Fifth Character: Always the number ‘0,’ reserved for future use.
- Last Six Characters: Identify the specific branch of the bank.
For example, in the IFSC code SBIN0001707
:
- SBIN indicates the State Bank of India.
- 0001707 identifies the specific branch.
Why is the IFSC Code Important?
The IFSC code is essential for various reasons:
- Online Money Transfers: It is mandatory for any NEFT, RTGS, or IMPS transactions.
- Unique Identification: It uniquely identifies each branch, avoiding errors in fund transfers.
- Facilitates Payment Settlement: The IFSC code enables accurate processing of payments in a secure manner.
- Compliance with RBI: Financial institutions and payment gateways must comply with RBI regulations by using the IFSC code.
How to Find Your Bank’s IFSC Code?
You can find the IFSC code of your bank in several ways:
- Bank Passbook or Cheque Book: The IFSC code is generally printed on the top of a cheque or inside your passbook.
- Online Banking Platforms: Most banks provide the IFSC codes for all their branches on their official website.
- RBI Official Website: The RBI maintains an exhaustive list of IFSC codes for all banks.
- Third-Party Websites: Websites like ours allow users to search for IFSC codes by selecting the bank and branch details.
- Customer Service: You can also contact your bank’s customer support team for assistance.
How Does IFSC Code Work in Online Transactions?
When you initiate a bank transfer, the IFSC code acts as the address for the bank’s branch where the funds need to be sent. Here’s how the IFSC code is used during an online transaction:
- Input Bank Details: While initiating a transfer, you enter the recipient’s bank account number and the branch-specific IFSC code.
- Verification: The IFSC code helps the system validate the bank and its branch.
- Routing of Funds: The system then directs the transaction to the correct branch based on the IFSC, ensuring that the transfer happens without errors.
NEFT, RTGS, and IMPS: How IFSC Codes Play a Role
When performing NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), or IMPS (Immediate Payment Service) transactions, entering the correct IFSC code is mandatory. Here’s a quick breakdown:
- NEFT: This system processes transactions in batches. IFSC code helps in identifying the branch for clearing the transaction.
- RTGS: This is used for high-value transactions, and the IFSC code ensures that funds are routed instantly and securely.
- IMPS: This service is available 24/7, and the IFSC code is vital for immediate transfer of funds.
IFSC Code Formats of Major Banks
Here are examples of IFSC codes for major banks in India:
Bank Name | Example IFSC Code |
---|---|
State Bank of India | SBIN0001707 |
HDFC Bank | HDFC0000037 |
ICICI Bank | ICIC0000007 |
Punjab National Bank | PUNB0001707 |
Axis Bank | UTIB0000177 |
Bank of Baroda | BARB0DEL170 |
Find IFSC CODE BY BANK
- ABHYUDAYA COOPERATIVE BANK LIMITED
- AHMEDABAD MERCANTILE COOPERATIVE BANK
- AHMEDNAGAR MERCHANTS CO-OP BANK LTD
- AIRTEL PAYMENTS BANK LIMITED
- AKOLA JANATA COMMERCIAL COOPERATIVE BANK
- ALMORA URBAN COOPERATIVE BANK LIMITED
- AMBARNATH JAIHIND COOP BANK LTD AMBARNATH
- ANDHRA PRADESH GRAMEENA VIKAS BANK
- ANDHRA PRAGATHI GRAMEENA BANK
- APNA SAHAKARI BANK LIMITED
- ARVIND SAHAKARI BANK LTD
- AU SMALL FINANCE BANK LIMITED
- AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
- AXIS BANK
- B N P PARIBAS
- BANDHAN BANK LIMITED
- BANK OF AMERICA
- BANK OF BARODA
- BANK OF CEYLON
- BANK OF INDIA
- BANK OF MAHARASHTRA
- BASSEIN CATHOLIC COOPERATIVE BANK LIMITED
- BHAGINI NIVEDITA SAHAKARI BANK LTD PUNE
- BHARAT COOPERATIVE BANK MUMBAI LIMITED
- BOMBAY MERCANTILE COOPERATIVE BANK LTD
- CANARA BANK
- CAPITAL SMALL FINANCE BANK LIMITED
- CENTRAL BANK OF INDIA
- CHHATTISGARH RAJYA GRAMIN BANK
- CITI BANK
- CITIZEN CREDIT COOPERATIVE BANK LIMITED
- CITY UNION BANK LIMITED
- COASTAL LOCAL AREA BANK LTD
- CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK CALYON BANK
- CREDIT SUISEE AG
- CSB BANK LIMITED
- CTBC BANK CO LTD
- Darussalam Co operative Urban Bank Ltd
- DBS BANK INDIA LIMITED
- DCB BANK LIMITED
- DEOGIRI NAGARI SAHAKARI BANK LTD. AURANGABAD
- DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION
- DEUSTCHE BANK
- DHANALAKSHMI BANK
- DMK JAOLI BANK
- DOHA BANK
- DOMBIVLI NAGARI SAHAKARI BANK LIMITED
- DURGAPUR STEEL PEOPLES CO-OPERATIVE BANK LTD
- EMIRATES NBD BANK P J S C
- EQUITAS SMALL FINANCE BANK LIMITED
- ESAF SMALL FINANCE BANK LIMITED
- EXPORT IMPORT BANK OF INDIA
- FEDERAL BANK
- FINCARE SMALL FINANCE BANK LTD
- FINO PAYMENTS BANK
- FIRST ABU DHABI BANK PJSC
- FIRSTRAND BANK LIMITED
- G P PARSIK BANK
- GS Mahanagar Co-operative Bank Limited Mumbai
- HARYANA STATE COOPERATIVE BANK
- HDFC BANK
- HIMACHAL PRADESH STATE COOPERATIVE BANK LTD
- HSBC BANK
- Hutatma Sahakari Bank Ltd
- ICICI BANK LIMITED
- IDBI BANK
- IDFC First Bank Ltd
- IDUKKI DISTRICT CO OPERATIVE BANK LTD
- INDIA POST PAYMENT BANK
- INDIAN BANK
- INDIAN OVERSEAS BANK
- INDUSIND BANK
- INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
- INDUSTRIAL BANK OF KOREA
- Irinjalakuda Town Co-Operative Bank Ltd
- JALGAON JANATA SAHAKARI BANK LIMITED
- JAMMU AND KASHMIR BANK LIMITED
- JANA SMALL FINANCE BANK LTD
- JANAKALYAN SAHAKARI BANK LIMITED
- JANASEVA SAHAKARI BANK BORIVLI LIMITED
- JANASEVA SAHAKARI BANK LIMITED
- JANATA SAHAKARI BANK LIMITED
- JIO PAYMENTS BANK LIMITED
- KALLAPPANNA AWADE ICHALKARANJI JANATA SAHAKARI BANK LIMITED
- KALUPUR COMMERCIAL COOPERATIVE BANK
- KARNATAKA BANK LIMITED
- KARNATAKA GRAMIN BANK
- KARNATAKA VIKAS GRAMEENA BANK
- KARUR VYSYA BANK
- KEB Hana Bank
- KERALA GRAMIN BANK
- KOOKMIN BANK
- KOTAK MAHINDRA BANK LIMITED
- KOZHIKODE DISTRICT COOPERATIAVE BANK LTD
- Maharashtra Gramin Bank
- MAHARASHTRA STATE COOPERATIVE BANK
- Mahesh Sahakari Bank Ltd Pune
- MASHREQBANK PSC
- MIZUHO BANK LTD
- MODEL COOPERATIVE BANK LTD
- MUFG BANK LTD
- NAGAR URBAN CO OPERATIVE BANK
- NAGPUR NAGARIK SAHAKARI BANK LIMITED
- NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
- NAV JEEVAN CO OP BANK LTD
- NEW INDIA COOPERATIVE BANK LIMITED
- NKGSB COOPERATIVE BANK LIMITED
- NORTH EAST SMALL FINANCE BANK LIMITED
- NSDL Payments Bank Limited
- NUTAN NAGARIK SAHAKARI BANK LIMITED
- Pavana Sahakari Bank LTD
- PAYTM PAYMENTS BANK LTD
- PRIME COOPERATIVE BANK LIMITED
- PT BANK MAYBANK INDONESIA TBK
- Punjab and Maharashtra Cooperative Bank Limited
- PUNJAB AND SIND BANK
- PUNJAB NATIONAL BANK
- QATAR NATIONAL BANK SAQ
- RABOBANK INTERNATIONAL
- RAJARAMBAPU SAHAKARI BANK LIMITED
- RAJARSHI SHAHU SAHAKARI BANK LTD PUNE
- RAJASTHAN MARUDHARA GRAMIN BANK
- RAJGURUNAGAR SAHAKARI BANK LIMITED
- Rajnandgaon District Central Co-operative Bank Ltd
- RBL Bank Limited
- SAHEBRAO DESHMUKH COOPERATIVE BANK LIMITED
- SAMARTH SAHAKARI BANK LTD
- SANT SOPANKAKA SAHAKARI BANK LTD
- Saraspur Nagrik Co operative Bank Ltd Saraspur
- SARASWAT COOPERATIVE BANK LIMITED
- Satara Sahakari Bank Ltd
- SBER BANK
- SBM BANK INDIA LIMITED
- SHIKSHAK SAHAKARI BANK LIMITED
- SHINHAN BANK
- Shivalik Small Finance Bank Limited
- Shree Kadi Nagarik Sahakari Bank Limited
- SHRI CHHATRAPATI RAJASHRI SHAHU URBAN COOPERATIVE BANK LIMITED
- Shri Veershaiv Co Op Bank Ltd
- SIR M VISVESVARAYA CO OPERATIVE BANK LTD
- Smriti Nagrik Sahakari Bank Maryadit
- SOCIETE GENERALE
- SOLAPUR JANATA SAHAKARI BANK LIMITED
- SOUTH INDIAN BANK
- STANDARD CHARTERED BANK
- STATE BANK OF INDIA
- Suco Souharda Sahakari Bank Ltd
- SUMITOMO MITSUI BANKING CORPORATION
- SURAT NATIONAL COOPERATIVE BANK LIMITED
- SURYODAY SMALL FINANCE BANK LIMITED
- SUTEX COOPERATIVE BANK LIMITED
- TAMILNAD MERCANTILE BANK LIMITED
- TELANGANA STATE COOP APEX BANK
- TEXTILE TRADERS CO OPERATIVE BANK LTD
- THE A.P. MAHESH COOPERATIVE URBAN BANK LIMITED
- THE AHMEDNAGAR DISTRICT CENTRAL CO-OPERATIVE BANK LTD
- The Ajara Urban Co op Bank Ltd Ajara
- THE AKOLA DISTRICT CENTRAL COOPERATIVE BANK
- The Akola Urban Cooperative Bank Limited
- THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED
- The Banaskantha Mercantile Cooperative Bank Ltd
- THE BANK OF NOVA SCOTIA
- THE BARAMATI SAHAKARI BANK LTD
- THE COSMOS CO OPERATIVE BANK LIMITED
- THE DELHI STATE COOPERATIVE BANK LIMITED
- THE GADCHIROLI DISTRICT CENTRAL COOPERATIVE BANK LIMITED
- THE GREATER BOMBAY COOPERATIVE BANK LIMITED
- THE GUJARAT STATE COOPERATIVE BANK LIMITED
- THE JALGAON PEOPELS COOPERATIVE BANK LIMITED
- THE KALYAN JANATA SAHAKARI BANK LTD.
- THE KANGRA CENTRAL COOPERATIVE BANK LIMITED
- THE KANGRA COOPERATIVE BANK LIMITED
- THE KARAD URBAN COOPERATIVE BANK LIMITED
- THE KARANATAKA STATE COOPERATIVE APEX BANK LIMITED
- The Kerala State Co Operative Bank Ltd
- The Kolhapur Urban Co-op Bank Ltd
- THE KURMANCHAL NAGAR SAHAKARI BANK LIMITED
- The Malad Sahakari Bank Ltd
- The Malkapur Urban Co Operative Bank Ltd Malkapur
- The Meghalaya Co-operative Apex Bank Ltd
- THE MEHSANA URBAN COOPERATIVE BANK
- THE MUMBAI DISTRICT CENTRAL COOPERATIVE BANK LIMITED
- THE MUNICIPAL COOPERATIVE BANK LIMITED
- The Muslim Co-operative Bank Ltd
- THE NAINITAL BANK LIMITED
- THE NASIK MERCHANTS COOPERATIVE BANK LIMITED
- THE NAVNIRMAN CO-OPERATIVE BANK LIMITED
- THE NAWANAGAR COOPERATIVE BANK LTD
- THE NILAMBUR CO OPERATIVE URBAN BANK LTD NILAMBUR
- THE ODISHA STATE COOPERATIVE BANK LTD
- THE PANDHARPUR URBAN CO OP. BANK LTD. PANDHARPUR
- THE PUNJAB STATE COOPERATIVE BANK LTD
- The Pusad Urban Cooperative Bank Ltd Pusad
- THE RAJASTHAN STATE COOPERATIVE BANK LIMITED
- THE SATARA DISTRICT CENTRAL COOPERATIVE BANK LTD
- THE SEVA VIKAS COOPERATIVE BANK LIMITED
- THE SHAMRAO VITHAL COOPERATIVE BANK
- THE SINDHUDURG DISTRICT CENTRAL COOP BANK LTD
- THE SURAT DISTRICT COOPERATIVE BANK LIMITED
- THE SURATH PEOPLES COOPERATIVE BANK LIMITED
- THE TAMIL NADU STATE APEX COOPERATIVE BANK
- THE THANE BHARAT SAHAKARI BANK LIMITED
- THE THANE DISTRICT CENTRAL COOPERATIVE BANK LIMITED
- THE UDAIPUR URBAN CO OPERATIVE BANK LTD
- THE URBAN CO OPERATIVE BANK Ltd No ONE SEVEN FIVE EIGHT PERINTHALMANNA
- THE VARACHHA COOPERATIVE BANK LIMITED
- The Vijay Co Operative Bank Limited
- THE VISHWESHWAR SAHAKARI BANK LIMITED
- THE WEST BENGAL STATE COOPERATIVE BANK
- THE ZOROASTRIAN COOPERATIVE BANK LIMITED
- THRISSUR DISTRICT CO-OPERATIVE BANK LTD
- TJSB SAHAKARI BANK LTD
- TUMKUR GRAIN MERCHANTS COOPERATIVE BANK LIMITED
- UCO BANK
- Ujjivan Small Finance Bank Limited
- UNION BANK OF INDIA
- UNITED OVERSEAS BANK LIMITED
- UTKARSH SMALL FINANCE BANK
- UTTAR PRADESH COOPERATIVE BANK LTD
- VASAI JANATA SAHAKARI BANK LTD
- VASAI VIKAS SAHAKARI BANK LIMITED
- WOORI BANK
- YES BANK
- ZILA SAHAKRI BANK LIMITED GHAZIABAD
Common Mistakes to Avoid When Using an IFSC Code
- Entering the Wrong IFSC Code: This can result in delays or failed transactions.
- Using an Obsolete IFSC Code: After a bank merger, the IFSC code might change. Ensure you have the latest code by checking online or contacting the bank.
- Ignoring the 5th Character: Remember, the 5th character is always zero. Any variance in this format may result in transaction failure.
The Evolution of IFSC Codes and Bank Mergers
In recent years, due to bank mergers, some IFSC codes have changed. For example, after the merger of State Bank of India with its associate banks, the IFSC codes for several branches changed. Customers must stay updated with these changes to avoid transaction errors.
Frequently Asked Questions (FAQ)
1. Can Two Branches Have the Same IFSC Code?
No, each branch has a unique IFSC code, ensuring that funds are directed to the correct location.
2. What Happens if I Enter the Wrong IFSC Code?
Entering the wrong IFSC code could lead to a failed transaction or the funds being routed to the wrong branch. In such cases, you should immediately contact your bank to resolve the issue.
3. Is IFSC Code the Same as MICR Code?
No. While the IFSC code is used for online transfers, the MICR code (Magnetic Ink Character Recognition) is used for the processing of cheques.
4. Do IFSC Codes Change After a Bank Merger?
Yes. When banks merge, IFSC codes for some branches may change. Always verify the current IFSC code before initiating any transaction.
Conclusion
The IFSC code is an indispensable element in India’s banking infrastructure. It ensures the secure transfer of funds and facilitates accurate routing of payments. Understanding how to find and use your bank’s IFSC code can save you time and prevent errors in financial transactions. Always double-check your IFSC code, especially after bank mergers or restructuring, to ensure seamless transactions.