Question : In the context of the banking sector, what does "F" stand for in IFSC?
Option 1: Fiscal
Option 2: Forum
Option 3: Functional
Option 4: Financial
Correct Answer: Financial
Solution : The correct option is the Financial .
"F" in IFSC stands for "Financial". IFSC stands for Indian Financial System Code. It is a unique alphanumeric code assigned to each bank branch in India by the Reserve Bank of India (RBI) to facilitate electronic funds transfer and other online transactions such as NEFT (National Electronic Funds Transfer) and RTGS (Real-Time Gross Settlement).
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