Question

Which of the following is an alphanumeric code that facilitates electronic funds transfer in India?

A Indian Financial Source Code Correct Answer Incorrect Answer
B Indian Financial System Code Correct Answer Incorrect Answer
C Interbank Financial System Code Correct Answer Incorrect Answer
D Indian Financial System Centre Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.

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