In India, most money transfers — whether NEFT, RTGS, or IMPS — rely on a unique banking identifier called the IFSC Code. Many customers still get confused about what it means and how it helps ensure secure and accurate fund transfers. This article simplifies everything about IFSC, banking structure, and how India manages branch-based fund routing.

? What is an IFSC Code?

IFSC stands for Indian Financial System Code.
It is an 11-character alphanumeric code issued by the Reserve Bank of India (RBI) to uniquely identify every bank branch that supports online electronic payments in India.

Example IFSC: INDB0000804

• INDB → Bank Code (IndusInd Bank)

• 0 → Reserved character (always zero)

• 000804 → Branch Code (Vikaspuri, New Delhi)

? Structure of IFSC Code

Characters	Meaning	Example
First 4	Bank Code	INDB (IndusInd Bank)
5th	Reserved (always 0)	0
Last 6	Branch Identifier	000804

Every branch has a different last 6 characters, ensuring accurate routing of transactions.

? Who Allots IFSC Codes?

• RBI officially assigns IFSC codes

• Codes are added when a bank opens a new digital-enabled branch

• Helps track and verify online financial transfers

? Which Bank Has the Most Branches in India?

State Bank of India (SBI) has the highest number of branches in India with over 22,500 branches.
This huge network is the reason SBI handles a major portion of India's banking transactions.

? Why is IFSC Important?

For Customers	For Banking System
Enables secure digital transfers	Correct branch routing
Prevents fraud and errors	Better transaction tracking
Saves time replacing traditional methods	Regulatory compliance

? Major Indian Banks & IFSC Example Codes

Bank Name	Example IFSC Code	Explanation
State Bank of India	SBIN0000691	SBIN = SBI + Branch code
HDFC Bank	HDFC0000123	HDFC = HDFC Bank
ICICI Bank	ICIC0000245	ICIC = ICICI Bank
Punjab National Bank	PUNB0000123	PUNB = PNB
Bank of Baroda	BARB0XXXXX	BARB + branch code
IndusInd Bank	INDB0000804	Vikaspuri Branch

These are examples — each bank has thousands of branches and unique IFSC codes nationwide.

? MICR vs IFSC

IFSC	MICR
Used for digital payments	Used for cheque processing
Alphanumeric	Numeric (9-digit)
Assigned by RBI	Printed on cheque leaves

Bottom Line

• IFSC is the backbone of India’s electronic banking

• Without IFSC, branching-based transfers would be impossible

• Customers must always double-check the IFSC before sending money

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