For example, the IFSC code of the SBI branch at 23, Himalaya House, Kasturba Gandhi Marg, New Delhi 110001, is SBIN0005943.
Every bank branch will have a unique code and no two branches (even of the same bank) will ever be the same.įor State Bank of India's (SBI) 11-digit IFSC code, the first four letters will be 'SBIN', and the last 6 digits will represent a specific branch code. It is mandatory for fund transfers from one bank account to another.
This code is used by electronic payment system applications such as RTGS, and NEFT.
The Indian Financial System Code (or IFSC) is an 11-digit alpha-numeric code assigned by the Reserve Bank of India to identify every bank branch participating in the payment system uniquely.
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