Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Topic

General Awareness

Question:

What is the full form of "IFSC Code" which is related to banking?

Options:

International Financial System Code

International Financial Systematic Code

Indian Financial Systematic Code

Indian Financial System Code

Correct Answer:

Indian Financial System Code

Explanation:

The correct answer is Option (4) - Indian Financial System Code

IFSC: Indian Financial System Code. It is alpha – numeric code which identifies any branch under the NEFT system. IFSC code is must for NEFT and RTGS transactions. It is 11 digit code, 4 Alpha Characters, 0 and Last 6. First 4 characters represents bank name, Fifth digit buffer, and Last six digits are represents bank branch.