There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Axis Bank for its Katol branch in Nagpur, Katol, Maharashtra, then this comprehensive guide will provide you with detailed information.
The banking system in India has changed over time, and today the customers of Axis Bank situated in Nagpur or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code UTIB0004074. You should know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for Axis Bank, Katol, Nagpur
Here are the key points that are associated with the IFSC Code UTIB0004074 of Axis Bank for its branch located in Nagpur, within the district of Katol in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Axis Bank |
| IFSC Code | UTIB0004074 |
| Branch | Katol |
| City | Nagpur |
| District | Katol |
| State | Maharashtra |
| Address | Ground Floor Paliwal House Opp Jain Mandir Katol 441302 |
These details help users in online banking and for businesses and individuals who use Axis Bank in Nagpur for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code UTIB0004074 for the Katol branch of Axis Bank has a very important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code that is provided by the Reserve Bank of India. A unique IFSC like UTIB0004074 is given to every bank branch, including Axis Bank located in Katol, Nagpur, Maharashtra, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the Axis Bank branch in Nagpur.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Nagpur and Katol.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Maharashtra and the rest of India, which is why the IFSC Code ensures that transactions meant for Axis Bank in Katol doesn't end up at another location.
Format of the IFSC Code UTIB0004074
The format of the IFSC Code for banks, including Axis Bank, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): These represent the bank code. In Axis Bank, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Katol in Nagpur.
For example, the IFSC Code UTIB0004074 of Axis Bank for the Katol branch has these elements, identifying the bank and the branch location in Nagpur and Maharashtra correctly.
How to Find IFSC Code for Axis Bank?
To find the IFSC Code UTIB0004074 of Axis Bank for its Katol branch located in Nagpur, 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 Nagpur and Katol, 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 Katol or Nagpur to find the exact IFSC Code UTIB0004074.
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 Nagpur will provide accurate information.
How to Use IFSC Code UTIB0004074 for Online Transfers?
Once you have the IFSC Code UTIB0004074 for the Katol branch of Axis Bank in Nagpur, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code UTIB0004074. 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 UTIB0004074.
Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for Axis Bank Katol in Nagpur 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 Katol, here are some ways to obtain 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.
Having both the IFSC and MICR codes makes it easy for account holders in Nagpur to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code of the Katol Nagpur branch is UTIB0004074.
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 Paliwal House Opp Jain Mandir Katol 441302.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.