You will need the IFSC codes of your bank if you want to withdraw amount from PayPal to your bank account directly. You may need this for many other transactions like Credit card payment to other bank cards, make payment via internet banking to another account etc.
To get a bank's IFSC code
1. Just visit this website: http://indian-banks.info/
2. Choose the state
3. Choose District
4. Choose your bank
5. Click on your branch or the More details link
6. You can get the IFSC code from that page
Other than this, IndianBanks website provides a lot of valuable information like NEFT vs RTGS Payments, To transfer money to an account you will have to have the following details(if you are the receiver these are the details you need to pass to the sender)
Account Number
Account Name (must match the account name in your bank records)
Account Type (Savings/Current/Business)
Bank Name
IFSC Code