The IFSC Code is a very important number used in India for digital banking and online money transfers that ensures seamless and accurate fund transfers. In case you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code to route your payment to the right branch. If you are searching for the IFSC Code of Idbi Bank for its Gokul Road- Hubli branch in Dharwad, Hubli-Dharwad, Karnataka, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of Idbi Bank located in Dharwad or anywhere in Karnataka can transfer funds instantly by using the correct IFSC Code IBKL0001242. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Idbi Bank, Gokul Road- Hubli, Dharwad
Below in the table are the key details related to IFSC Code IBKL0001242 of Idbi Bank for its branch located in Dharwad, within the district of Hubli-Dharwad in the state of Karnataka.
| Particulars | Details |
|---|---|
| Bank | Idbi Bank |
| IFSC Code | IBKL0001242 |
| Branch | Gokul Road- Hubli |
| City | Dharwad |
| District | Hubli-Dharwad |
| State | Karnataka |
| Address | Idbi Bank Ltd, Plot No 33, Ganapati Plaza, Gokul Road, Nehru Nagar, Hubli 580 030 |
These details are essential not only for online banking users but also for businesses and individuals who use Idbi Bank in Dharwad for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code IBKL0001242 for the Gokul Road- Hubli branch of Idbi Bank plays an important role.
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 Idbi Bank located in Gokul Road- Hubli, Dharwad, Karnataka, is provided with a unique IFSC like IBKL0001242 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Idbi Bank branch in Dharwad.
- 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 Dharwad and Hubli-Dharwad.
- 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 Karnataka and the rest of India and the IFSC Code ensures that transactions meant for Idbi Bank in Gokul Road- Hubli do not get mixed with another location.
Format of the IFSC Code IBKL0001242
The format of the IFSC Code for banks, including Idbi Bank, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): These represent the bank code. In Idbi 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 Gokul Road- Hubli in Dharwad.
For example, the IFSC Code IBKL0001242 of Idbi Bank for the Gokul Road- Hubli branch has these elements, identifying the bank and the branch location in Dharwad and Karnataka correctly.
How to Find IFSC Code for Idbi Bank?
If you are trying to find the IFSC Code IBKL0001242 of Idbi Bank for its Gokul Road- Hubli branch located in Dharwad, the following methods can help:
Cheque Book
The cheque book issued by Idbi Bank includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.
Passbook
Most banks, including Idbi Bank branches in Dharwad and Hubli-Dharwad, print the IFSC and MICR codes on the first page of your passbook.
Bank Website
Visit the official website of Idbi Bank and navigate to the branch locator section. Search for Gokul Road- Hubli or Dharwad to get the exact IFSC Code IBKL0001242.
Mobile Banking App
If you use Idbi 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 Idbi Bank and Dharwad, you'll get the correct details.
How to Use IFSC Code IBKL0001242 for Online Transfers?
If you have the IFSC Code IBKL0001242 for the Gokul Road- Hubli branch of Idbi Bank in Dharwad, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code IBKL0001242. Transfers are processed in batches. 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. Asks for the recipient's account details and Idbi Bank IFSC Code IBKL0001242.
Whatever method you choose, the accuracy of the IFSC Code is important and needed. In case there is any mistake in entering the IFSC Code for Idbi Bank Gokul Road- Hubli in Dharwad, it 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 Idbi Bank in Gokul Road- Hubli, 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 Idbi Bank website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Dharwad manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is IBKL0001242.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Idbi Bank Ltd, Plot No 33, Ganapati Plaza, Gokul Road, Nehru Nagar, Hubli 580 030 located in Dharwad, Hubli-Dharwad, Karnataka.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.