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The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
The first two digits of the sort code identify the bank (90-xx-xx = [Bank of Ireland], 98-xx-xx = [Ulster Bank], for example) and the last 4 identify the branch. There is an exception with 99-xx-xx - these codes are used for international banks Irish Clearing ACs, and some Post Office accounts.
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
S.No. Name Head Office Sponsor Bank Area of Operations Ref. 1 Aryavart Bank: A-2/46, Vijay Khand, Gomti Nagar, Lucknow-226010 Bank of India: Presence of Aryavart Bank:
The bank was created from the amalgamation of Uttar Bihar Kshetriya Gramin Bank and Kosi Kshetriya Gramin Bank(transferor regional rural banks) by Government of India in 1976 as per Gazette Notification issued by the Indian Ministry of Finance under Sub-Section (1) of Section 23 A of the Regional Rural Bank Act, 1976 (21 of 1976). [4]
Asset pricing; Bond (finance) Capital structure; Corporate finance; Cost of capital; Equity (finance) Ethical banking; Exchange traded fund; Financial; law. market
In December 2015 the first International Financial Services Centre (IFSC) in India was set up in Gujarat International Finance Tec-City (GIFT City). [ 5 ] In 2019 the Government of India enacted an Act of Parliament called the International Financial Services Centres Authority Act, 2019.