Who is allocating IFSC code?
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Explanation:
The last 6 characters represent the bank branch and they are usually numeric. The code is assigned by the Reserve Bank of India. Any transfer system that's regulated by the RBI will require the use of an IFSC code. The IFSC code plays a crucial role in transferring funds online.
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Answer:
the Indian financial system code (or IFSC) is an 11-digit alphanumerical code assigned by the reserve bank of India to identify every bank branch participating in the payment system uniquely. this code is used by electronic payment system applications such as RTGS and NEFT
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