If you're from outside India and are looking to open an account in India, you first need to find a local bank and open an account. You can also use our guide on opening an account in India if you need more information on the subject. Once you have your bank details, however, you'll need to know how to use the Indian Financial System Code (IFSC) to find the exact location of your bank branch and address. Here's how it works!
An 'IFSC code is a unique identification number used by banks and financial institutions in India. An individual has to provide this code while opening a bank account. Otherwise, the institution will not be able to process the application. The Reserve Bank of India created the Indian Financial System Code (IFSC) as a mechanism for transferring funds electronically across national boundaries within the country. It consists of 11 characters, with the first four letters being Bank Identification. This facilitates electronic funds transfer without disclosing one's account number or the account name at any transaction stage.
To find a bank's details, you need three pieces of information: the bank name, the branch, and the individual's account number. You'll often find all of these on your current checkbook or passbook. All you have to do is enter them into a standard search engine. If your account is under somebody else's name, don't worry - there are other ways to find their banking details too.
It is safe to share your banking details with other people. However, it is not a good idea because there is a potential for fraud if the information gets into the wrong hands. The easiest way to avoid that risk is by avoiding giving out any information in public places or through general emails or texts. For example, please do not post this information on social media sites like Facebook and LinkedIn unless you have enabled privacy settings for those profiles so only your friends can see them.
There are two ways to find the branch details of a bank, given its IFSC code. The first way is by accessing the RBI website and looking for the bank directory option under Bank Management. Once on this page, you will access a list of banks and their locations. The second way is by calling the RBI office or visiting any one of their branches.