With IFSC Code, online money transfer has become easier and hassle-free. RBI has assigned these codes to the bank BRANCHES to perform NEFT, RTGS and IMPS fund transfer in a smooth way. To know how IFSC Code works while transferring money, let’s take an example here. The IFSC code of HDFC Saket, New Delhi branch is HDFC0000043.

• Here, the first four digits identify the bank, which is HDFC Bank.
• The 5th digit is always ‘Zero’.
• The remaining 6 characters 000043, helps Reserve Banks of India (RBI) identify the branch of the bank.

Let’s know how IFSC Code works during a transaction. When a fund transfer is initiated, one has to provide the bank account number and the IFSC code of the payee. Once the remitter provides all the NECESSARY information, the fund is transferred to the account of the beneficiary with the help of IFSC Code in a smooth way. Fund transfer with IFSC code TAKES only a few minutes from the time of initiation.

IFSC Code ALSO can be used at the time of purchasing mutual funds or insurance through Net Banking. As the National Clearing Cell of Reserve Bank of India monitors all transactions, IFSC Code helps RBI to keep a track of various transactions and execute fund transfer without any hassle.

With IFSC Code, online money transfer has become easier and hassle-free. RBI has assigned these codes to the bank branches to perform NEFT, RTGS and IMPS fund transfer in a smooth way. To know how IFSC Code works while transferring money, let’s take an example here. The IFSC code of HDFC Saket, New Delhi branch is HDFC0000043.

Let’s know how IFSC Code works during a transaction. When a fund transfer is initiated, one has to provide the bank account number and the IFSC code of the payee. Once the remitter provides all the necessary information, the fund is transferred to the account of the beneficiary with the help of IFSC Code in a smooth way. Fund transfer with IFSC code takes only a few minutes from the time of initiation.

IFSC Code also can be used at the time of purchasing mutual funds or insurance through Net Banking. As the National Clearing Cell of Reserve Bank of India monitors all transactions, IFSC Code helps RBI to keep a track of various transactions and execute fund transfer without any hassle.