IFSC Code/Indian Financial System Code is an identification given to all banks that allow remittance via electronic fund transfer systems. The identification in the form of an 11-character code is assigned by the Reserve Bank of India to the banks. An alpha-numeric IFSC code contains 3 parts, out of which the first (4 characters) and the second part (Last 6 characters) denote the bank's and the branch's name respectively. The middle part is just one numeric that is, zero, which is used later.
For example, 'JANA0000031' is the IFSC code of Nashik branch of Janaseva Sahakari Bank, Pune of Maharashtra. If you look closely, in the code 'JANA' stands for Janaseva Sahakari Bank, and the last six numbers is Nashik branch's identification code.
Where to get IFSC codes?
It is very easy to get IFSC code. You can get it in few clicks on loanbaba.com through its IFSC code locator tool. You will have to select the name of the bank, state and branch; it will give you the IFSC code along with the full address of the branch. You can get the entire list of IFSC code on RBI’s website for each bank. You can also find it on the bank’s website.