Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of Axis Bank for its Mahal branch in Nagpur, Nagpur, Maharashtra, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of Axis Bank located in Nagpur or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code UTIB0003242. You should definitely know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for Axis Bank, Mahal, Nagpur
The table below shows the main details of the IFSC Code UTIB0003242 for the Axis Bank branch in Nagpur, which falls under the Nagpur district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Axis Bank |
| IFSC Code | UTIB0003242 |
| Branch | Mahal |
| City | Nagpur |
| District | Nagpur |
| State | Maharashtra |
| Address | Ground Floor Plot No 90 Ruikar Road Mahal Nagpur Pin 440032 |
These details helps 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 UTIB0003242 for the Mahal branch of Axis Bank plays a vital 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 UTIB0003242 is given to every bank branch, including Axis Bank located in Mahal, 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 Nagpur.
- 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 Mahal doesn't end up at another location.
Format of the IFSC Code UTIB0003242
The format of the IFSC Code for banks, including Axis Bank, has an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Axis Bank, these letters represent the bank's short name.
- 5th character: Is always zero and is kept for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Mahal in Nagpur.
For example, the IFSC Code UTIB0003242 of Axis Bank for the Mahal branch includes these elements, identifying the bank and the branch location in Nagpur and Maharashtra correctly.
How to Find IFSC Code for Axis Bank?
If you are trying to find the IFSC Code UTIB0003242 of Axis Bank for its Mahal branch located in Nagpur, the following methods can help:
Cheque Book
The cheque book issued by Axis Bank includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.
Passbook
You can easily find the IFSC and MICR codes because most banks, including Axis Bank branches in Nagpur and Nagpur, print them on the first page of your passbook.
Bank Website
Visit the official website of Axis Bank and navigate to the branch locator section. Search for Mahal or Nagpur to get the exact IFSC Code UTIB0003242.
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 keeps an updated list of all IFSC codes. If you search for Axis Bank and Nagpur, you'll get the correct details.
How to Use IFSC Code UTIB0003242 for Online Transfers?
Once you have the IFSC Code UTIB0003242 for the Mahal branch of Axis Bank in Nagpur, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code UTIB0003242. The transfer is completed in batches. It is useful for both personal and business payments.
RTGS
Used for payments over ₹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 UTIB0003242.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Axis Bank Mahal in Nagpur, 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 Mahal, 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 Mahal Nagpur branch is UTIB0003242.
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 Plot No 90 Ruikar Road Mahal Nagpur Pin 440032.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
