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Advantages and Disadvantages of Internet Banking and IFSC Code

Banking sector has been revolutionized over the last decades. The era of digitalization has completely transformed the world of banking. It’s hard to imagine a time when the simple task of checking your bank account balance required a trip to bank. Through Internet banking, you can check your account balance, transfer funds and more within a fraction of seconds, right from your smartphones or laptops. Thanks to the massive advancements in technology that marked the beginning of the new era of banking sector which have given their customers easy money transfer methods like NEFT. NEFT or National Electronic Funds transfer facilitates transfer of funds to other bank accounts across the country in the quickest possible time. Reputed institutions like ICICI and HDFC also offer Internet banking and NEFT transfer. Procedure is quite simple for making a transaction. First you need to create a user id on the official website of your banking institution and then add the IFSC code. After y
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Is IFSC code also known as the bank code?

An IFSC code or the Indian Financial System Code is also referred to as the bank code in India. It helps identify the individual bank branch participating in any RBI regulated funds transfer. An IFSC code, assigned by RBI, is an 11-character alphanumeric code wherein the first four characters represent the name of the bank, the 5th character is ZERO and the remaining 6 characters represent the specific branch of that bank. It is a unique code for every bank branch across India that makes all your online transactions safe and secured, thus leaving no probability of inaccuracies. Bank IFSC code is usually printed on the NEFT enabled bank’s cheque book, but in case you don’t find it there, you can search the code online. There are a good many websites equipped with the bank IFSC code finder tool that can help you find the IFSC code of your bank. All you need to do is input the details or select from dropdown such as your bank’s name, the state, the district, your bank branch and clic
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The Importance of IFSC Code in Your Fund Transfer

Have you ever wondered that a day will come when you will be able to do paperless transactions from the comfort of your home within a few minutes?  Banking sector has revolutionized condemnably with the constant support of IT sector. Just when we thought it was impossible, this fast growing contemporary world (in which saving some time is a luxury) has offered us with a facility of internet banking. Now your bank is just few clicks away from you. For any online transaction you need an IFSC code. IFSC Code is used for a unique identification of a bank’s branch and it makes transactions safe and secure. What is an IFSC Code? The Indian Financial System Code also known as IFSC Code is an eleven digit code that you can usually find on you bank’s sponsored material. This alphanumeric code is assigned by RBI to identify every bank branch uniquely, that participate in NEFT (National Electronic Fund Transfer) system in India. Usually, the first four characters identify the bank’s
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