IFSC (Indian Financial System Code) is an 11 digit alphanumeric code which is used to identify the bank branch of your account. The first 4 characters of IFSC code represent the name of bank, fifth character is 0 and the last 6 numbers define the branch code of the bank. This code is used at the time of online fund transfer facilities like NEFT (National Electronic Fund Transfer), RTGS (Real Time Gross Settlement) and IMPS (Immediate Payment System). IFSC code reduces the scope of error at the time of transaction.