List of All IFSC Codes in India

The Indian Financial System Code (IFSC) is a distinct 11-digit code comprising both alphabets and numbers. This code is essential for conducting electronic or online money transfers, enabling accurate and secure direction of funds to the intended bank branch.

The Reserve Bank of India (RBI) assigns these codes to streamline and monitor banking transactions via any of the three main electronic funds settlement systems in India:

• Real Time Gross Settlement (RTGS)
• National Electronic Funds Transfer
• (NEFT) systems Immediate Payment Service (IMPS)

How is the IFSC Code Unique for Each Bank Branch?

• The IFSC code is structured in a specific way, in three parts.
• The first four characters represent the bank's name.
• The fifth character is always '0' (reserved for future use).
• The last six characters identify the specific branch.

For example, in the IFSC code SBIN0001707, 'SBIN'stands for State Bank of India, and '001707' specifies the branch code.

How to Find Your IFSC Code?

Here are 5 ways to find IFSC Code Online:

• Bank Passbook: Typically listed on the front page alongside account details.
• Cheque Book: Found on the top or bottom of every cheque issued by the bank.
• Account Statements: Detailed in the transaction summary section of printed or electronic statements.
• Internet Banking Services: Accessible through the online banking portal, typically under account details.
• Reserve Bank of India Website: Access comprehensive lists of IFSC codes for all registered banks.

Benefits of IFSC Code

• Facilitates electronic payments (NEFT, RTGS, and IMPS) across India.
• Ensures secure and accurate bank transfers.
• Identifies specific bank branches.
• Streamlines processing of inter-bank transactions.
• Required for online banking operations.
• Helps in reducing errors in money transfers.
• Supports governmental and financial regulations.
• Aids in tracking and auditing financial transaction.

How to Transfer Funds Using IFSC Code?

NEFT (National Electronic Funds Transfer): This is a nationwide payment system that facilitates one-to-one fund transfer. NEFT transactions are processed in batches during specific hours on working days.

RTGS (Real Time Gross Settlement): This system enables real-time transfer of funds and is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ₹2 lakh with no upper limit. This system ensures immediate settlement of transactions as they occur individually and are not processed in batches.

IMPS (Immediate Payment Service): Provides an instant, 24x7, interbank electronic fund transfer service through mobile phones. IMPS facilitates safe and economical fund transfers with the convenience of instant confirmation to both the sender and the receiver. This service is available through various channels such as mobile/ internet banking, ATM, and SMS, making it accessible anytime and anywhere.

Operational Timings For NEFT, RTGS, and IMPS

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How to Transfer Money Using IMPS via SMS

1. Ensure that your mobile number is registered with your bank for mobile banking services.
2. Activate SMS banking if it isn't automatically activated with mobile banking. This might involve sending a specific SMS to a designated number provided by your bank.
3. Once registered, you'll be assigned a Mobile Money Identifier (MMID) and a mobile banking Personal Identification Number (mPIN).
4. Type IMPS followed by the payee's details including their name, bank, branch, account number, the IFSC code of the payee's bank, and the amount you wish to transfer.
5. Send this SMS to the number provided by your bank specifically for IMPS transfers.
6. You'll receive a prompt via SMS to confirm the transaction by entering your mPIN. Respond with your mPIN to proceed.
7. After entering your mPIN, if the transaction is successful, you will receive an SMS confirming that the funds have been sent to the recipient's account.

In today's interconnected digital landscape of India, the importance of IFSC codes cannot be overstated. These codes are crucial for facilitating smooth and secure online transactions, ensuring that money reaches its intended destination efficiently. As digital transactions continue to grow, the importance of IFSC codes will only be magnified, ensuring that India's financial system remains robust and accessible to all.