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Sunday, August 23, 2009

List of NEFT IFSC’s of Bank Branches – Bank Wise List


List of  NEFT IFSC’s of  Bank Branches – Bank Wise List

What is IFSC code and where would I get it?

Answer:
Indian financial system code (IFSC) means a unique code of 11 digits of the NEFT enabled branches. Normally, this code will be printed on the cheque book OR it may be obtained from the branch where the account is maintained.
 
For more details of the meaning of IFSC’s and a brief history of IFSC’s in our country, o visit
IFSC Code can be compared to the Pincode of Indian Posts. Mentioning the correct Pincode will enable the letter to reach the correct destination faster. Mentioning the correct IFSC Code in a NEFT Transaction will enable the NEFT Transaction to be credited correctly and faster.
In a Core Banking Scenario, wherein all the Bank Branch Accounts are centralized, ideally the IFSC Code is irrelevant. However, Banks advise the correct IFS Code to be mentioned in the transaction, for easy resolution of disputes, if any.
At present, the IFSC Codes are printed on the below left corner of the beneficiary cheque.
However, cheque books are not readily available for immediate reference.
Hence, another source of IFSC Codes, is the respective Bank site.
But the best source is the Reserve Bank of India Site.
The link for the Bank wise IFSC Codes is as under
As the excel data is Bank-wise, the download size is also low. The above data is very useful, for executing NEFT Transactions.
Mention the Correct IFS Code and Account Number for immediate ePayment Credits
  

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