For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Axis Bank for its Mhow branch in Indore, Mhow, Madhya Pradesh, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of Axis Bank located in Indore or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code UTIB0002973. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Axis Bank, Mhow, Indore
Here are the key points that are associated with the IFSC Code UTIB0002973 of Axis Bank for its branch located in Indore, within the district of Mhow in the state of Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Axis Bank |
| IFSC Code | UTIB0002973 |
| Branch | Mhow |
| City | Indore |
| District | Mhow |
| State | Madhya Pradesh |
| Address | Ground Floor Agarwal Tower 984 Manek Chowk Mhow 453441 |
These details are important not only for users using online banking but also for businesses and individuals who use Axis Bank in Indore for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code UTIB0002973 for the Mhow branch of Axis Bank is vital.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Axis Bank located in Mhow, Indore, Madhya Pradesh, is provided with a unique IFSC like UTIB0002973 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Axis Bank branch in Indore.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any errors or confusions between multiple branches of the same bank across different places like Indore and Mhow.
- It reduces errors in fund transfers and improves accuracy.
- It allows sender banks to validate and confirm branch details before processing payments.
There are thousands of branches across Madhya Pradesh and the rest of India and the IFSC Code ensures that transactions meant for Axis Bank in Mhow do not get mixed with another location.
Format of the IFSC Code UTIB0002973
This is the format of the IFSC Code for banks, including Axis Bank, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Axis Bank, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Mhow in Indore.
For example, the IFSC Code UTIB0002973 of Axis Bank for the Mhow branch includes these elements, identifying the bank and the branch location in Indore and Madhya Pradesh accurately.
How to Find IFSC Code for Axis Bank?
To find the IFSC Code UTIB0002973 of Axis Bank for its Mhow branch located in Indore, the following methods can help you out:
Cheque Book
The cheque book issued by Axis Bank includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including Axis Bank branches in Indore and Mhow, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Axis Bank and go to the branch locator section. Then search for Mhow or Indore to find the exact IFSC Code UTIB0002973.
Mobile Banking App
If you use Axis Bank's mobile app, you can check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India maintains an updated database of all IFSC codes. Searching for Axis Bank and Indore will provide accurate information.
How to Use IFSC Code UTIB0002973 for Online Transfers?
Once you have the IFSC Code UTIB0002973 for the Mhow branch of Axis Bank in Indore, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code UTIB0002973. Transfers are processed in batches. This is suitable for personal and business payments.
RTGS
Used for high-value payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. Requires the recipient's account details and Axis Bank IFSC Code UTIB0002973.
Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for Axis Bank Mhow in Indore may result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of Axis Bank in Mhow, here are some ways that you can get it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official Axis Bank website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Indore manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Mhow Indore branch is UTIB0002973.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at Ground Floor Agarwal Tower 984 Manek Chowk Mhow 453441.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
