Banking transactions have become very easy and hassle-free in this digital age. One of the many such key elements will be the Indian Bank IFSC Code, which helps in the smooth and secure execution of electronic transactions across India. Through our website ifsccodesearch.com, we will try to explore and understand what an IFSC code is, its importance, its structure, and how you can find an IFSC code for Indian Bank branches.
Importance of IFSC Code in Banking
NEFT (National Electronic Funds Transfer)
RTGS (Real Time Gross Settlement)
IMPS (Immediate Payment Service)
What is an IFSC Code?
IFSC stands for Indian Financial System Code, which is an alphanumeric code that uniquely identifies a bank’s branch across India. It forms a crucial part of all electronic money transfers, routing funds accurately and securely to the recipient’s bank account.
Importance of IFSC Code in Banking
The IFSC code plays a important role in the Indian banking system for:
- NEFT (National Electronic Funds Transfer)
- RTGS (Real Time Gross Settlement)
- IMPS (Immediate Payment Service)
These are all popular methods of transferring money electronically, and each transaction requires the correct IFSC code of the recipient’s bank branch.
Structure of Indian Bank IFSC Code
The IFSC code is a unique 11-character code, composed of three parts:
- Bank Code: The first four characters represent the bank’s name. For Indian Bank, this is always ‘IDIB’.
- Zero: The fifth character is always ‘0’. This character is reserved for future use and currently serves as a placeholder.
- Branch Code: The last six characters are numerical and represent the specific branch of the bank.
Check IFSC code
How to Find the Indian Bank IFSC Code?
Finding the IFSC code for Indian Bank is quite easy and can be done through several ways. Below are some ways:
Bank Documents: Usually, the IFSC code can be found on the cheque leaves and passbooks issued by the bank.
Indian Bank's Official Website: One can find the handy tool that lets one look for the IFSC code in case a person enters the branch name or location requisite.
Mobile Banking Apps: IFSC code is a facilitated facility in most mobile banking apps, including of course my app from Indian Bank.
Third Party Websites: Now, there are a few websites available to find IFSC codes by entering the bank name, state, and branch.
Why is the IFSC Code Necessary?
The IFSC code is mandatory for conducting various types of electronic transactions:
- Accuracy: It ensures that the funds are transferred to the correct bank branch and account.
- Security: The unique nature of the IFSC code helps prevent errors and fraud during transactions.
- Efficiency: It speeds up the process of transferring funds across different banks in India.
* State Bank of India (SBI) is having the largest bank chain in India
Frequently asked questions
Can IFSC codes change over time?
Yes, IFSC codes can change due to bank mergers, reorganization, or shifting of branches. It’s always advisable to confirm the current IFSC code before making a transaction.
Is it possible to transfer money without an IFSC code?
No, for electronic transfers via NEFT, RTGS, or IMPS, the IFSC code is mandatory. Without it, the transaction cannot be processed.
What should I do if I use the wrong IFSC code?
If the IFSC code is incorrect, the transaction will either be rejected or could potentially go to the wrong account. It’s crucial to double-check the IFSC code before completing any transaction.
Most Popular IFSC code searches in 2024
With the rapidly growing and vibrant digital economy of India, online banking transactions have gradually become routine affairs. Now, the IFSC helps facilitate these transactions and makes the money transfer processes secure and accurate. Below list takes through the most searched IFSC codes in India and gives insights into which bank branches are frequently queried.
- SBI Main Branch, Mumbai – SBIN0070001
- SBI Parliament Street Branch, New Delhi – SBIN0000691
- SBI CAG Branch, Kolkata – SBIN0009998
- SBI Fort Branch, Mumbai – SBIN0005347
- SBI Commercial Branch, Chennai – SBIN0007347
- SBI Overseas Branch, Nariman Point, Mumbai – SBIN0004791
- SBI Stressed Assets Management Branch, Hyderabad – SBIN0018359
- HDFC Bank, Fort Branch, Mumbai – HDFC0000060
- HDFC Bank, Nariman Point Branch, Mumbai – HDFC0000001
- HDFC Bank, Andheri East Branch, Mumbai – HDFC0000086
- HDFC Bank, Gurgaon Main Branch, Haryana – HDFC0000090
- HDFC Bank, Connaught Place Branch, New Delhi – HDFC0001220
- HDFC Bank, Jayanagar Branch, Bengaluru – HDFC0000261
- HDFC Bank, South Extension Branch, New Delhi – HDFC0000319
- ICICI Bank, Nariman Point Branch, Mumbai – ICIC0000376
- ICICI Bank, MG Road Branch, Bengaluru – ICIC0000002
- ICICI Bank, Connaught Place Branch, New Delhi – ICIC0000007
- ICICI Bank, Gurgaon DLF Phase 2 Branch, Haryana – ICIC0006614
- ICICI Bank, Andheri West Branch, Mumbai – ICIC0001012
- ICICI Bank, Noida Sector 18 Branch, Uttar Pradesh – ICIC0000031
- ICICI Bank, Gachibowli Branch, Hyderabad – ICIC0001114
- PNB, Connaught Place Branch, New Delhi – PUNB0527700
- PNB, Civil Lines Branch, Delhi – PUNB0647400
- PNB, South Extension Branch, New Delhi – PUNB0014410
- PNB, Bandra West Branch, Mumbai – PUNB0008200
- PNB, Chandni Chowk Branch, New Delhi – PUNB0000110
- PNB, Karol Bagh Branch, New Delhi – PUNB0001210
- PNB, Noida Sector 18 Branch, Uttar Pradesh – PUNB0370200