IFSC stands for Indian Financial System Code
Bank IFSC Code is used to transfer the funds online from one bank to another. This code is required for funds transfer between two different banks. Bank IFSC Code is a unique eleven digit alphanumeric code for each bank branch. In a Bank IFSC Code the first four tells bank name and another seven are for branch number. This code is also mentioned on the check book of a bank. You can find all details on bank address, MICR Code and IFSC Code on Bankifsccode.com
If you dont know the address of a bank branch you will need to know NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement).
NEFT (National Electronic Funds Transfer)
NEFT is an Electronic Funds Transfer System which allows to transfer funds to another bank account.
RTGS is for funds transfer form one bank to another bank on a real time basis. The transactions are processed as soon as they are processed. Payments are final once they are processed.