IFSC is a unique code that is assigned to all the banks present at various parts of the country. This 11 character code can be used for identifying the name of the bank as well as the branch in which the account is held. Being a unique code, it differs from branch to branch for even the same bank. The code plays a key role in financial transactions, which are done via internet banking i.e. RTGS, NEFT or IMPS transfer.Read less