(2) IFSC stands for Indian FinancialSystem Code. It is a11-character code for identifyingthe bank and branch whichan account is held. The firstfour characters represent thename of the bank; the fifthcharacter of the code is zero(0); the last six characters representsthe bank’s branch TheIFSC code is used by theNEFT, RTGS and IMPS financetransfer systems.