KBC 14: In the ‘IFSC’ that is associated with banks, what does ‘FS’ stand for?
Answer: Financial System
Indian Financial System Code, or IFSC, is the abbreviation for the 11-digit character that typically appears on cheque leaves from your bank or other bank-sponsored materials. This 11-character code is used to distinguish between the various bank branches that take part in NEFT and RTGS, among other online money transfer options.