IFSC Code is the short form of Indian Financial System Code. IFSC Codes system has been developed by Reserve Bank of India in order to facilitate transfer of payments within banks in India. IFSC Codes are also known as IFS Codes.
IFSC Codes or IFS Codes are required for the Real Time Gross Settlement (RTGS) and the National Electronic Fund Transfer (NEFT) systems. IFSC Codes uniquely identifies each bank branch participating in the online Payment and settlements in India.
IFSC Code is formed of 11 characters in following system:
First four characters in the IFSC Code from left depicts bank code. In the case of The Burdwan Central Co-operative Bank Ltd the first four characters from left BUCB indicates that it is The Burdwan Central Co-operative Bank Ltd.
5th Character from left in the IFSC code has been reserved for future use and till then has to be 0
6th to 11th Characters from left in the IFSC Code depicts the Branch Code. In the case of IFSC Code: BUCB0000108 of The Burdwan Central Co-operative Bank Ltd last 6 characters 000108 has been assigned to KATWA Branch located in the city of KATWA at address :P O - KATWA DIST - PURBA BARDHAMAN PIN CODE - 713130
Note: Banks prints IFSC Codes on the cheque Books issued to their customers. Banks also publish their branches IFSC Codes on their websites. You can cross check the IFSC Codes published on this site before using them to be sure that you are using correct IFSC Codes for transferring payments.