IFSC Codes - Indian Financial System Code All BanksPayment system applications run by the Reverse Bank of India reply on IFSC Codes to process transactions. The code is made up of eleven characters. Characters one through four identify the entity also known as the bank code. Characters six through eleven identify the branch. Character five just acts as a place holder and is usually a zero. To link up your PayPal account to your Indian Bank account all you need to first find out your IFSC Code.