Electronic funds transfer in India is facilitated by an alpha-numeric code called the Indian Financial System Code (IFSC Code or IFSC). This code exclusively recognises each bank branch that participates in both major payment and settlement systems in India, specifically, National Electronic Funds Transfer (NEFT) along with Real-Time Gross Settlement (RTGS). The first portion of the code consists of four letters representing the bank. The next character is not any that is allowed for future usage. The previous 6 characters will be the identification code of this branch. Let us take an example: IFS Code of State Bank of India (SBI) starts with letters'SBI'. Because there are plenty of banks with different branches, it is possible to seek lender by IFSC Code that's involved with the trade. IFS codes are critical whilst carrying out payment transactions such as RTGS, NEFT moves.
https://ifsc.businessalphabets.com