IFSC stands for "Indian Financial System Code" (IFS code). Its an 11-digit Alphanumeric Code that facilitates electronic funds transfer in India. The Reserve Bank of India is the central banking authority in India, controls all the associated banks and banking affairs throughout India. The RBI issues the IFS Codes to the member banks. The RBI also lists and records the IFSC of all the participating banks.
RBI has advised all the associated banks, to publish the IFS Code of the particular bank branch on the Cheque Leaves issued to customers for the convenience of customers.