nemo
/
talks
mirror of https://github.com/captn3m0/talks.git
1
0
Fork 0
Code Issues Projects Releases Wiki Activity
talks/ifsc/index.md

16 KiB
Raw Blame History

paginate inlineSVG
true true

things nobody ever tells you about IFSC

-nemo

Q: What does IFSC stand for?

bg

International Financial Services Centre

(Only partly kidding: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=9619&Mode=0)

In exercise of the powers conferred by section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following regulations relating to financial institutions set up in International Financial Services Centres, namely:-

(f) ‘International Financial Services Centre’ or ‘IFSC’ shall have the same meaning given in Section 2 (q) of the Special Economic Zones Act, 2005 (28 of 2005).

Fine!

Indian Financial System Code

some metrics first

  • 4 Years since first release
  • 64 releases
  • 72 tags
-------------------------------------------------------------------------------
Language                     files          blank        comment           code
-------------------------------------------------------------------------------
PHP                             13            175             68           2063
Ruby                             9            111             23           2008
JavaScript                       5             26              1           1548
YAML                             5              4             24           1256
Markdown                         4            157              0            383
Elixir                           8             53             63            308
Bourne Shell                     2             10             13             31
XML                              1              0              0             16
-------------------------------------------------------------------------------
SUM:                            47            536            192           7613
-------------------------------------------------------------------------------

0.1.7

bg 80%

bg 100%

the IFSC wall of cuteness

bg 100%

what is it?

The IFSC Toolkit includes:

  1. An API, served publicly at https://ifsc.razorpay.com
  2. A dataset, attached to every release in multiple formats
  3. An SDK that does multiple things:
    • Offline IFSC validations
    • Requests to the API
    • Offline Bank checks
  4. In various languages: Node.JS/PHP/Ruby/Elixir

what's the source?

3 Primary Sources: RBI/NPCI/RTI

RBI publishes a list of all RTGS/NEFT branches as excel sheets:

NPCI publishes a few lists:

bg

banks.json

List of all Banks in India* with the following details:

  • Bank Code (4 characters)
  • Bank Type
  • Primary IFSC (Usually of the IMPS HO Branch)
  • Primary MICR (Used on Cheques)
  • IIN (First 6 digits of issued cards)
  • ABPS Support (true/false)
  • NACH/ACH Credit/Debit Support (true/false)
  • UPI Support (true)

* - Based on all members listed in the NPCI ACH list.

by-bank.tar.gz (8.4MB)

A tar.gz file containing one JSON file for each bank, with a list of all known branches with the following details for every branch:

  • IFSC
  • Branch name
  • Address (Centre/District/State/Address/Contact)
  • Bank Name
  • UPI Support (true/false)
  • RTGS Support (true/false)
  • NEFT Support (true/false)
  • IMPS Support (true/false)
  • MICR

IFSC-list.json (4MB)

A single JSON file with every known IFSC code inside it.

IFSC.csv (25MB)

Single CSV file containing the same fields as the by-bank JSON file. Covers all banks.

IFSC.json (1.7MB)

A somewhat-compressed, human-readable JSON file containing all valid IFSCs for a bank, with leading zeroes removed.

"ADCC": [1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20
21,22,23,24,25,26,28,29,30,31,32,33,34,35,36,37,38
39,40,41,42,43,44,45,46,47,48,49,50,51,52,53,54,55
56,57,58,59,60,61,62,64,65,66,67,68,110,114,70,71
72,73,74,75,76,77,78,79,80,81,82,83,84,85,86,87
88,89,90,91,92,93,94,95,96,97,98,99,100,101,102
103,104,105,106,107,108,109,111,112,113,115,116]

ADCC0000001 to ADCC0000116 are all valid branches.

banknames.json

A manually curated human-readable list of all banknames against 4 letter bank codes. Currently at 1425 entries.

The API

Has a single /:ifsc endpoint that returns all the information about the branch from the IFSC code. https://ifsc.razorpay.com/PUNB0026200

{
  "BRANCH": "KASHIPUR",
  "CENTRE": "KASHIPUR",
  "DISTRICT": "KASHIPUR (UTTARANCHAL)",
  "STATE": "UTTARAKHAND",
  "ADDRESS": "MATA MANDIR ROAD,DISTT. UDHAM SINGH NAGAR",
  "CONTACT": "",
  "UPI": true,
  "RTGS": true,
  "CITY": "KASHIPUR (UTTARANCHAL)",
  "NEFT": true,
  "IMPS": true,
  "MICR": "",
  "BANK": "Punjab National Bank",
  "BANKCODE": "PUNB",
  "IFSC": "PUNB0026200"
}

Metrics

It supports prometheus metrics over /metrics.

Code Examples

PHP

IFSC::validate('KKBK0000261'); // true
IFSC::validateBankCode('PUNB'); // true

IFSC::getBankName('PUNB'); // Returns 'Punjab National Bank'
IFSC::getBankName('ABCD'); // Returns null

IFSC::getBankName(Bank::PUNB); //Returns Punjab National Bank

Bank::getDetails(Bank::PUNB);
Bank::getDetails('PUNB');

// Returns an array:
// [
//    'code' => 'PUNB',
//    'type' => 'PSB',
//    'ifsc' => 'PUNB0244200',
//    'micr' => '110024001',
//    'iin' => '508568',
//    'apbs' => true,
//    'ach_credit' => true,
//    'ach_debit' => true,
//    'nach_debit' => true,
//    'name' => 'Punjab National Bank',
//    'bank_code' => '024',
//    'upi' => true
// ]

lookups

$client = new Client();
$res = $client->lookupIFSC('KKBK0000261');

echo $res->bank; // 'KOTAK MAHINDRA BANK LIMITED'
echo $res->branch; // 'GURGAON'
echo $res->address; // 'JMD REGENT SQUARE,MEHRAULI GURGAON ROAD,OPPOSITE BRISTOL HOTEL,'
echo $res->contact; // '4131000'
echo $res->city; // 'GURGAON'
echo $res->district; // 'GURGAON'
echo $res->state; // 'HARYANA'
echo $res->getBankCode(); // KKBK
echo $res->getBankName(); // 'Kotak Mahindra Bank'

Node.js

ifsc.validate('BOTM0XEEMRA'); // returns false

// Look ma, promises!
ifsc.fetchDetails('KKBK0000261').then(function(res) {
  console.log(res);
});

console.log(ifsc.bank.PUNB); // Prints 'PUNB'

Ruby

Razorpay::IFSC::IFSC.validate! 'KKBK0000261' # => true

# Fetches details over API, constants as well
Razorpay::IFSC::Bank.get_details Razorpay::IFSC::Bank::PUNB
{
   code: 'PUNB',
   type: 'PSB',
   ifsc: 'PUNB0244200',
   micr: '110024001',
   bank_code: '024',
   iin: '508568',
   apbs: true,
   ach_credit: true,
   ach_debit: true,
   nach_debit: true
}

Support Matrix

Language Validation API Client Sublet Support (Custom) Bank Constants
PHP ✅ ✅ ✅ (✅) ✅
Ruby ✅ ✅ ✅ (✅) ✅
Elixir ✅ ✅ ✅ (❎) ❎
Node.js ✅ ✅ ❎ (❎) ✅

Growth Chart

bg

planned learnings

  • polyglot-single-repo-packages
  • open-data-superfast-public-APIs
  • scapegoat-application for random tests
src/banknames.json
src/ruby
src/banks.json
src/patches
src/custom-sublets.json
src/elixir
src/node
src/IFSC.json
src/sublet.json
src/php

bg

1. There are too many banks in India

  • banknames.json holds 1400+ named banks
  • Adding sublets, it adds up to atleast 2500+
  • Not all banks are recognized by RBI (with a 4 letter code)

2. There are 11 kinds of banks in India:

  • DCCB (District Co-operative Central Bank)
  • Foreign Bank
  • LAB (Local Area Bank)
  • O-UCB (Urban Co-operative Bank)
  • PB (Payment Bank)
  • Private (Private Sector Banks)
  • PSB (Public Sector Bank)
  • RRB (Regional Rural Bank)
  • S-UCB (?? Urban Co-operative Banks)
  • SCB (State Co-operative Bank)
  • SFB (Small Finance Bank)

3. RBI has no idea what its doing.

"IPOS": "India Post Payments Bank",
"IPPB": "India Post Payments Bank",

IPOS0000001

3.1 AJAR/AJUX

"AJAR": "Ajara Urban Co-operative Bank",
"AJUX": "Ajara Urban Co-operative Bank",

3.2 CXBX (Chartered Sahakari Bank Niyamitha)

CSBX0CSB001 (Supports only IMPS, not listed by RBI)

3.3 KOEX (KEB Hana Bank)

KOEX0000001: RTGS/NEFT/IMPS
KOEX0000002: RTGS/NEFT/IMPS
KOEX00000SC: RTGS/IMPS

4. The NPCI doesn't come under RTI

The contention arises from the fact that while it is incorporated as a non-profit organisation, 57 percent of its shares are held by public sector banks.

“In a reply to an RTI, we found that AP Hota, the chief general manager of the RBI, was deputed by the Bank for two years to the management. Moreover, the RTI also revealed that RBI had provided office space as well as an inventory list of items to NPCI.”

Judgement:

Commission is also of the view that it may be open to the complainantto seek information through public authority for NPCI i.e. RBI or Ministry of Financeas the case may be. That being so, the complaint of the complainant is unfounded and the same is rejected. https://bit.ly/39dsFK6

5. Companies still use MICR

000     000    000
City    Bank  Branch

6. IBAN

International Bank Account Number

the Committee felt that longest IBAN is most suitable for the country. Longest IBAN envisages 26 digits IBAN for the banks in India with 18 digit account number, 4 digit bank code, 2 digit country code and 2 check digits. Under this system, banks can continue to use the existing account numbers, and where necessary the number will be padded with zeros to make the length of 18 digits as required.

IN + Check Digit + Bank Code + Account Number

  • Bank Code: [:alpha:]{4}
  • Check Digit: [:digit:]{2}
  • Account Number: [:alphanum:]{18}

Source: https://www.iban.in/structure.html

7. Bank Mergers are fun!

After merger, for all outward IMPS transactions of associate banks the IFS Code will changeand will be intimated to customer. However for all the inward IMPS transaction bank willsupport old IFSC number till 1 Month from the date of merger.

8. Naming banks is hard

  • 20 different ways to write "Co-operative"
  • Zhilla, Zila, Jila, Jhila, District
  • Sahkari, Sahakari, Sah.,

9. IFSC Issuance Process

  • RBI issues 4 letter Bank Codes.
  • They end in "X" for banks not connected to RBI payment/settlement systems
  • Banks inform RBI of IFSCs for each branch via SFMS
  • Banks inform NPCI separately of IFSCs for each branch via NFS (?)

10. So many codes

  • IFSC code for IMPS
  • IFSC code for NEFT/RTGS
  • MICR code for cheques
  • SWIFT/SWIFT-BIC/BIC code for International inbound transfers
  • IBAN (International Bank Account Number)
  • NBIN (National Bank Identification) `[:digit:]{4}``
  • MMID [:digit:]{7} (NBIN+MAS (Mobile Account Selector, [:digit:]{3}))

11. I have no idea what I'm doing

  • NBIN format
  • Compression/Bloom Filter attempts

12. NPCI has no idea what it's doing

@jio,@ezeepay,@lime,@purz,@s2b,@srcb,@upi

UPI handles with unknown issuing bank.

What happens to MDR?

13. RBI doesn't care about data sanity

13.1 Encoding Issues

"CHENNAI - CENOTAPH ROAD " "1, CENOTAPH ROAD, CHENNAI. "

13.2 RBI Excel Sheets are broken

[WARN] IFSC code longer than 11 characters: IOBA0003378                                                  RO-TIRUPATHI, using IOBA0003378
[WARN] IFSC code longer than 11 characters: BANK OF BARODA, using BANKOFBAROD
[WARN] Second Entry found for HDFC0000917, discarding
[WARN] Second Entry found for FDRL0001808, discarding
[WARN] Second Entry found for ICIC0000248, discarding
[WARN] Second Entry found for ICIC0000557, discarding
[WARN] Second Entry found for ICIC0006252, discarding
[WARN] Second Entry found for CNRB0006822, discarding
[WARN] Second Entry found for DBSS0IN0901, discarding

13.3 RBI Excel Sheets are very broken

[WARN] Second Entry found for ICIC0002261, discarding
[WARN] Second Entry found for IDFB0040138, discarding
[WARN] Second Entry found for CBIN0284329, discarding
[WARN] Second Entry found for UTIB0002805, discarding
[WARN] Second Entry found for DCBL0000126, discarding
[WARN] Second Entry found for ICIC0000276, discarding
[WARN] Second Entry found for ICIC0006033, discarding
[WARN] IFSC code longer than 11 characters: IOBA0003379                                            RO-NAGERCOIL, using IOBA0003379
[WARN] IFSC code longer than 11 characters: IOBA0003392
[INFO] Removed BANKOFBAROD from the list

bg 80%

bg 70%

bg 80%

bg 80%

14. NEFT blocks

bg

tech

  1. scraper, written in ruby/bash (~400 lines)
  2. release notes generator script, written in PHP
  3. A patch manager to "fix" issues
---
# https://github.com/razorpay/ifsc/issues/154
action: patch
patch:
  NEFT: false
ifsc:
  # - KRTH0INBB00
  - BCEY0000001
  - BCEY0CHEN01
  - KGRB0000001
  - KGRB0000002
  - KGRB0000004

---
# https://github.com/razorpay/ifsc/issues/126
# Source: https://www.npci.org.in/upi-live-members
# Last Updated: Jan 2020 (Count = 143)
action: patch
patch:
  :upi: true
banks:
  - ABHY
  - ACBX
  - ADBX
  - AGVX
  - AIRP
  - ALLA

Rigorous Tests

Ensure Coverage between datasets

testNames
testConstants
testCoverageAgainstBankNames
testConstantsAgainstNames
testSubletsAgainstConstants
testConstantsAgainstCompleteBanksList
testSubletCoverage
testValidateJsonFormat
testNpciListAgainstRbi
testPatches

Ensure common tests between languages

  "testBasicValidator": {
    "KKBK0000261": true,
    "HDFC0002854": true,
  },
  "testValidateStringLookup": {
    "BOTM0NEEMRA": true,
    "BARB0ZOOTIN": true
  },
  "testValidateInvalidCode": {
    "BOTM0XEEMRA": false,
  },
  "testHPSC": {
    "HPSC0000406": true,
    "HPSC0000300": false
  },
  "testEdgeCases": {
    "SBMY0040704": false
  },
  "testSBIOldCodes": {
    "SBBJ0010004": false,
    "SBBJ0010006": false,

Ensure coverage across languages

it 'should match all constants defined in PHP' do
    constants_file = File.readlines('src/php/Bank.php')
  bank_constants = constants_file
    .select { |e| e.match(/const/) }
    .map { |e| e[/\s+const (\w{4})/, 1] }
  bank_constants.each do |c|
    expect(described_class::const_get(c)).to eq c.to_sym
  end
end

Ensure coverage across languages

// Validates that all constants defined in PHP are also defined in Node
let file = fs
  .readFileSync('src/php/Bank.php')
  .toString()
  .split('\n')
  .filter(l => {
    return l.indexOf('const') > -1;
  })
  .map(l => {
    return l.match(/\s+const (\w{4})/)[1];
  })
  .forEach(code => {
    assert.equal(BANK[code], code);
    assert.equal(IFSC.bank[code], code);
  });

The API

  1. Has all the data committed (huge repo, split-off)
  2. Multi-stage docker build (150MB)
  3. Uses Ruby/Sinatra/Redis for serving requests