Importance and benefits of Indian Financial System Code (IFSC)
- The code uniquely identifies a specific bank
branch, hence helping customers to avoid any possible mistakes during the
online transfer of funds via NEFT, RTGS or IMPS
- The customer need not visit the branch for any
financial transfer, hence can opt for online money transfer with the help
of IFSC Code. It is, therefore, a rather convenient and eco-friendly
option
- All the online transactions including paying
bills can be easily processed with the help of the IFSC code
- The code is used by the RBI to monitor all the
online transactions performed by an individual hence eliminating the
chances of any discrepancy in the fund transfer process
#ifsc #ifsccode #bankifsccode #allbankifscode
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