What does IFSC stand for?
The acronym IFSC stands for "Indian Financial System Code," which is a unique 11-character alphanumeric code assigned by the Reserve Bank of India to identify every individual bank branch participating in electronic payment and settlement systems across the country. The first four characters represent the bank itself, the fifth character is reserved as zero for future use, and the final six characters specify the exact branch location, ensuring accurate routing for NEFT, RTGS, and IMPS electronic money transfers.
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