What is an IFSC code?

IFSC code can be found on the leaf of the Cheque

IFSC stands for Indian Financial System Code. In the Structured Financial Messaging System (SFMS), the IFSC code is used as addressing code in user-to-user message transmission. The payment system applications such as NEFT, RTGS and CFMS developed by Reserve Bank of India (RBI) use these codes. The code consists of 11 digits, first four characters represent the entity,
fifth position has defaulted by '0' for future use, and the last 6 characters denotes the branch identity. In due course, when all banks participate in the electronic payment system, they would need a single identifiable unique code and IFSC would serve the purpose efficiently.