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 Powai branch in Mumbai, Mumbai, Maharashtra, 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 Mumbai or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code UTIB0NEARBY. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Axis Bank, Powai, Mumbai
Here are some of the key details that come with the IFSC Code UTIB0NEARBY of Axis Bank for its branch located in Mumbai, within the district of Mumbai in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Axis Bank |
| IFSC Code | UTIB0NEARBY |
| Branch | Powai |
| City | Mumbai |
| District | Mumbai |
| State | Maharashtra |
| Address | Ground Floor, Hiranandani Gardens, Cettm, Mtnl, Technology Street, Powai, Mumbai, Maharashtra, 400076 |
These details are important not only for users using online banking but also for businesses and individuals who use Axis Bank in Mumbai for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code UTIB0NEARBY for the Powai 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 Powai, Mumbai, Maharashtra, is provided with a unique IFSC like UTIB0NEARBY to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Axis Bank branch in Mumbai.
- 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 Mumbai and Mumbai.
- 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 Maharashtra and the rest of India and the IFSC Code ensures that transactions meant for Axis Bank in Powai do not get mixed with another location.
Format of the IFSC Code UTIB0NEARBY
The format of the IFSC Code for banks, including Axis Bank, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown of this:
- First 4 characters (AAAA): Represent the bank code. For Axis Bank, these characters are the bank's short identifier.
- 5th character (0): Always zero which is reserved for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Powai in Mumbai.
For example, the IFSC Code UTIB0NEARBY of Axis Bank for the Powai branch includes these elements, identifying the bank and the branch location in Mumbai and Maharashtra accurately.
How to Find IFSC Code for Axis Bank?
If you are trying to find the IFSC Code UTIB0NEARBY of Axis Bank for its Powai branch located in Mumbai, the following methods can help:
Cheque Book
The cheque books that are issued by Axis Bank include the IFSC Code which is printed on each cheque and you can easily spot the code on the top section.
Passbook
Most banks, including Axis Bank branches in Mumbai and Mumbai, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Axis Bank and find the branch locator section. Search for Powai or Mumbai to get the exact IFSC Code UTIB0NEARBY.
Mobile Banking App
If you use Axis Bank's mobile app, you can easily 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 to help you in searching for Axis Bank and Mumbai that will provide accurate information.
How to Use IFSC Code UTIB0NEARBY for Online Transfers?
Once you have the IFSC Code UTIB0NEARBY for the Powai branch of Axis Bank in Mumbai, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code UTIB0NEARBY. The transfer is completed in batches instead of instantly. It is useful for both 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 UTIB0NEARBY.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Axis Bank Powai in Mumbai, your payment can get delayed or might not go through at all.
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 Powai, 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 Mumbai manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is UTIB0NEARBY.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Ground Floor, Hiranandani Gardens, Cettm, Mtnl, Technology Street, Powai, Mumbai, Maharashtra, 400076 located in Mumbai, Mumbai, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
