Q1
Mod C
In electronic funds transfer architecture, what does the 5th character of the 11-digit Indian Financial System Code (IFSC) signify?
Correct Option: C
Detailed Solution
The IFSC is an 11-character code: first 4 characters are alphabetic representing the bank name, the 5th character is always 0 (reserved for future use), and the last 6 characters represent the specific branch.
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