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 Idbi Bank for its Mahad branch in Raigad, Mahad, Maharashtra, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of Idbi Bank located in Raigad or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code IBKL0001130. 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, Mahad, Raigad
The table below shows the main details of the IFSC Code IBKL0001130 for the Idbi Bank branch in Raigad, which falls under the Mahad district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Idbi Bank |
| IFSC Code | IBKL0001130 |
| Branch | Mahad |
| City | Raigad |
| District | Mahad |
| State | Maharashtra |
| Address | Shop No 9,10 And 11, Mahad Trade Center, Off Mg Road, Mahad 402301 |
These details are essential not only for online banking users but also for businesses and individuals who use Idbi Bank in Raigad for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code IBKL0001130 for the Mahad 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, along with Idbi Bank located in Mahad, Raigad, Maharashtra, are given a unique IFSC like IBKL0001130 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Raigad.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents any kind of confusion between different branches of the same bank in places like Raigad and Mahad.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It helps ensure that any money sent to Idbi Bank in Mahad goes to the correct branch. This is important because Idbi Bank has thousands of branches in Maharashtra and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code IBKL0001130
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): Show the bank code. For Idbi 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 Mahad in Raigad.
For example, the IFSC Code IBKL0001130 of Idbi Bank for the Mahad branch includes these elements, identifying the bank and the branch location in Raigad and Maharashtra accurately.
How to Find IFSC Code for Idbi Bank?
If you are trying to find the IFSC Code IBKL0001130 of Idbi Bank for its Mahad branch located in Raigad, the following methods can help:
Cheque Book
The cheque books that are issued by Idbi 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 Idbi Bank branches in Raigad and Mahad, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Idbi Bank and find the branch locator section. Search for Mahad or Raigad to get the exact IFSC Code IBKL0001130.
Mobile Banking App
If you use Idbi 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 Idbi Bank and Raigad that will provide accurate information.
How to Use IFSC Code IBKL0001130 for Online Transfers?
Once you have the IFSC Code IBKL0001130 for the Mahad branch of Idbi Bank in Raigad, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code IBKL0001130. Transfers are processed in batches. Suitable for personal and business payments.
RTGS
Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. You need the recipient's account details and Idbi Bank IFSC Code IBKL0001130.
Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for Idbi Bank Mahad in Raigad, it can 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 Mahad, 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 Raigad manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Mahad Raigad branch is IBKL0001130.
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 Shop No 9,10 And 11, Mahad Trade Center, Off Mg Road, Mahad 402301.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.