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    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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