Which of the following is an alphanumeric code that

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

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.

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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