Which of the following statements about the IFSC Code are correct?
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IFSC Code is an 11-digit alpha-numeric code used to identify bank branches for NEFT and RTGS transactions.
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The first 4 characters of the IFSC code represent the bank branch.
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The fifth digit of the IFSC code is a reserved buffer character
1
1 and 2 only
2
1 and 3 only
3
2 and 3 only
4
2 only
5
3 only