The IFSC number is used to confirm if the account number belongs to the bank or not. In case the IFSC number is invalid but it belongs to the same bank you can verify the Account. For instance, If a bank account belongs to HDFC Pune but the user has entered HDFC Delhi branch IFSC the amount will be credited and it will get verified.
How does the penny get credited? Who will be charged for that?
We are using the IMPS network built by NPCI to credit the penny. The penny is credited from our bank account to the beneficiary bank account.
The below link will help,
https://www.ifsccodebank.com/search-by-IFSC-code.aspx