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SSC CGL 2021 PYQ — Question 30

SSC CGL - 18 Aug 2021 - Shift 1 • General Awareness • Q30

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An alphanumeric code that serves as a distinctive identifier for a bank branch participating in the NEFT system is known as _______.

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Correct answer: C

Explanation

The correct answer is option 3 i.e. IFSC.

  • An alphanumeric code that serves as a distinctive identifier for a bank branch participating in the NEFT (National Electronic Funds Transfer) system is known as an IFSC (Indian Financial System Code).
  • This eleven-character code uniquely identifies each bank branch and facilitates electronic fund transfers within India.
  • The IFSC code consists of a combination of letters and numbers, where the first four characters represent the bank code, the fifth character is '0' reserved for future use, and the remaining six characters denote the specific branch code.