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 Idbi Bank for its Vave branch in Raigad, Alibag, 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 Idbi Bank situated in Raigad or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code IBKL0001712. You should know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for Idbi Bank, Vave, Raigad
Below in the table are the key details related to IFSC Code IBKL0001712 of Idbi Bank for its branch located in Raigad, within the district of Alibag in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Idbi Bank |
| IFSC Code | IBKL0001712 |
| Branch | Vave |
| City | Raigad |
| District | Alibag |
| State | Maharashtra |
| Address | Ground Floor,H No 704,At Vave Post,Malyan Taluka,Alibag District Pin 402 201 |
These details helps users in online banking and for businesses and individuals who use Idbi Bank in Raigad for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code IBKL0001712 for the Vave branch of Idbi 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 IBKL0001712 is given to every bank branch, including Idbi Bank located in Vave, Raigad, 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 Raigad.
- 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 Raigad and Alibag.
- 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 Vave doesn't end up at another location.
Format of the IFSC Code IBKL0001712
The format of the IFSC Code for banks, including Idbi Bank, has 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 Vave in Raigad.
For example, the IFSC Code IBKL0001712 of Idbi Bank for the Vave branch includes these elements, identifying the bank and the branch location in Raigad and Maharashtra correctly.
How to Find IFSC Code for Idbi Bank?
If you are trying to find the IFSC Code IBKL0001712 of Idbi Bank for its Vave 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 Alibag, 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 Vave or Raigad to get the exact IFSC Code IBKL0001712.
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 IBKL0001712 for Online Transfers?
If you have the IFSC Code IBKL0001712 for the Vave branch of Idbi Bank in Raigad, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code IBKL0001712. 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 IBKL0001712.
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 Vave in Raigad, 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 Vave, 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 Idbi Bank website.
- Search the RBI portal.
Having both the IFSC and MICR codes makes it easy for account holders in Raigad to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is IBKL0001712.
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 Ground Floor,H No 704,At Vave Post,Malyan Taluka,Alibag District Pin 402 201 located in Raigad, Alibag, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.