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IFSC stands for Indian Financial System Code. In the Structured Financial Messaging System (SFMS), the Indian Financial System Code (IFSC) is being used as the addressing code in user-to-user message transmission. The Payment System Applications such as RTGS, CFMS and NEFT developed by the Reserve Bank of India use these codes.

IFSC is being identified by the RBI (Reserve Bank of India) as the code to be used for various payment system projects within the country, and it would, in due course, cover all networked branches in the country. In due course, when all bank branches participate in electronic payment systems, they would need to have a single identifiable unique code and IFSC would serve the purpose effectively.

Its a code used for all sort of electronic money transfer purpose. The code gives a specific identification figure to the branches of the banks and hence eliminates any chaos as its a unique for every branch, be it in the same or different city.

The IFSC Code Consists of 11 Characters (For example HDFC0000082):

1. First 4 characters (HDFC) represent the entity
2. Fifth position (0) has been defaulted with a '0' (Zero) for future use
3. The Last 6 characters (000082) denotes the branch identity.