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Why Is The Ifsc Code Needed? |
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Answer» The IFSC code is used to PERFORM electronic FUND transfers across various banks in India. Most major BANK branches involved in bank-to-bank electronic payments have a unique IFSC number. The IFSC code is used by banks to IDENTIFY the source and target bank branches for fund transfer. It is also used to EXCHANGE messages and information across the banks. The IFSC code is used to perform electronic fund transfers across various banks in India. Most major bank branches involved in bank-to-bank electronic payments have a unique IFSC number. The IFSC code is used by banks to identify the source and target bank branches for fund transfer. It is also used to exchange messages and information across the banks. |
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