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IFSC (Indian Financial System Code) is an 11-digit alphanumeric code that helps to identify different bank branches that deal with online fund transfers either via NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Service), or RTGS (Real Time Gross Settlement). This SBI IFSC Code list was updated as of 15th May 2021.
Uses of SBI Bank IFSC Code
IFSC code is used by electronic payment system applications such as real-time gross settlement (RTGS), NEFT, and Centralized Funds Management System (CFMS). This code is mandatory for fund transfers from one bank account to another.
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