General Knowledge · Banking System
Which of the following correctly describes the Indian Financial System Code (IFSC)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It is a code where the first four characters represent the bank branch code.
- 2It is used to track and authorize international bank transfers.
- 3It is a 9-digit numeric code used exclusively for cheque clearing.
- 4It is an 11-character alphanumeric code identifying bank branches for NEFT and RTGS.✓
Correct answer
It is an 11-character alphanumeric code identifying bank branches for NEFT and RTGS.
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