Q:
The 'IFSC Code' is an alphanumeric code comprising 11 characters that facilitates Electronic Fund Transfer in the country. The alphabet 'F' in the abbreviation 'IFSC' stands for ?
Answer & Explanation
Answer: C) Financial
Explanation: IFSC stands for - Indian Financial System Code. This is a code uniquely identifies each bank branch participating in the two main Payment and settlement systems in India :
1. RTGS - The Real Time Gross Settlement (and)
2. NEFT - The National Electronic Fund Transfer (NEFT) systems.
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