Hi Hari,
The IFSC code that you are talking about is the Bank Key, that is maintained in BUT0BK table against the BP along with the Bank Account Number. Isn't it?
So now for a refund process, if the bank account details are not maintained at the Contarct Account level or the Document level, (depending on how the refund is triggerred), then it will not get picked up in the refund FPY1 run in the first place.
House Bank Master contains the bank details of the Utility company from where the amount will deducted and will be deposited on to the customer account for a refund process.
Can you tell me which IFSC code you are looking for.
Thanks,
Amlan