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. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of Idbi Bank for its Rakshewadi branch in Pune, Khed Shivapur, or Maharashtra, this guide will help you with all the details.
There have been major changes in the banking sector in India and today, the customers of Idbi Bank located in Pune or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code IBKL0001440. 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 Idbi Bank, Rakshewadi, Pune
Below in the table are the key details related to IFSC Code IBKL0001440 of Idbi Bank for its branch located in Pune, within the district of Khed Shivapur in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Idbi Bank |
| IFSC Code | IBKL0001440 |
| Branch | Rakshewadi |
| City | Pune |
| District | Khed Shivapur |
| State | Maharashtra |
| Address | Milkat No. 17, Plot No. 2, Ghat No. 312, Raksehewadi, Khed, Pune |
These details are important not only for users using online banking but also for businesses and individuals who use Idbi Bank in Pune for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code IBKL0001440 for the Rakshewadi branch of Idbi Bank is vital.
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 IBKL0001440 is given to every bank branch, including Idbi Bank located in Rakshewadi, Pune, Maharashtra, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the Idbi Bank branch in Pune.
- 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 Pune and Khed Shivapur.
- 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 Idbi Bank in Rakshewadi doesn't end up at another location.
Format of the IFSC Code IBKL0001440
This is the format of the IFSC Code for banks, including Idbi Bank, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Idbi 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 Rakshewadi in Pune.
For example, the IFSC Code IBKL0001440 of Idbi Bank for the Rakshewadi branch includes these elements, identifying the bank and the branch location in Pune and Maharashtra accurately.
How to Find IFSC Code for Idbi Bank?
To find the IFSC Code IBKL0001440 of Idbi Bank for its Rakshewadi branch located in Pune, the following methods can help you out:
Cheque Book
The cheque book issued by Idbi Bank includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including Idbi Bank branches in Pune and Khed Shivapur, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Idbi Bank and go to the branch locator section. Then search for Rakshewadi or Pune to find the exact IFSC Code IBKL0001440.
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 maintains an updated database of all IFSC codes. Searching for Idbi Bank and Pune will provide accurate information.
How to Use IFSC Code IBKL0001440 for Online Transfers?
Once you have the IFSC Code IBKL0001440 for the Rakshewadi branch of Idbi Bank in Pune, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code IBKL0001440. 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 Idbi Bank IFSC Code IBKL0001440.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Idbi Bank Rakshewadi in Pune, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of Idbi Bank in Rakshewadi, here are some of the ways 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.
Knowing both IFSC and MICR code can help account holders in Pune manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is IBKL0001440.
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 Milkat No. 17, Plot No. 2, Ghat No. 312, Raksehewadi, Khed, Pune located in Pune, Khed Shivapur, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.