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The “IFSC Code’ is an alphanumeric code comprising 11 characters that facilitates electronic fund transfer in the country. The alphabet ‘I’ in the abbreviation ‘IFSC’ stands for ______________
Inter-bank
Indian
International
Intercontinental
Institutional
- The term "IFSC Code" refers to an 11-character alphanumeric code that helps in identifying individual bank branches in India, which is crucial for electronic fund transfers.
- ?? Option 1: Inter-bank - This suggests a connection between banks, but it does not begin with the letter 'I' in 'IFSC.'
- ?? Option 2: Indian - This indicates that the IFSC is associated with the Indian banking system, aligning with the 'I' in 'IFSC.'
- ?? Option 3: International - Implies a global element, but IFSC is specific to India.
- ?? Option 4: Intercontinental - Likewise suggests a broader scope than applicable as IFSC pertains to Indian banks.
- ?? Option 5: Institutional - Suggests an organization, not aligning well with 'I' in IFSC.
Correct Answer: Option 2 – Indian
By: Parvesh Mehta ProfileResourcesReport error
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