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 Indian Bank for its Raigarh branch in Raigarh, Raigarh, Chhattisgarh, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of Indian Bank located in Raigarh or anywhere in Chhattisgarh can transfer funds instantly by using the correct IFSC Code IDIB000R516. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Indian Bank, Raigarh, Raigarh
Below in the table are the key details related to IFSC Code IDIB000R516 of Indian Bank for its branch located in Raigarh, within the district of Raigarh in the state of Chhattisgarh.
| Particulars | Details |
|---|---|
| Bank | Indian Bank |
| IFSC Code | IDIB000R516 |
| Branch | Raigarh |
| City | Raigarh |
| District | Raigarh |
| State | Chhattisgarh |
| Address | Gaurishankar Mandir Road Raigarh Itwari Bazar Raigarh Raigarh Pin 496001 |
These details helps users in online banking and for businesses and individuals who use Indian Bank in Raigarh for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code IDIB000R516 for the Raigarh branch of Indian 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 provided by the Reserve Bank of India. Every bank branch, including Indian Bank located in Raigarh, Raigarh, Chhattisgarh, is provided with a unique IFSC like IDIB000R516 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Indian Bank branch in Raigarh.
- 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 Raigarh and Raigarh.
- 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 Chhattisgarh and the rest of India and the IFSC Code ensures that transactions meant for Indian Bank in Raigarh do not get mixed with another location.
Format of the IFSC Code IDIB000R516
The format of the IFSC Code for banks, including Indian Bank, has an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Indian 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 Raigarh in Raigarh.
For example, the IFSC Code IDIB000R516 of Indian Bank for the Raigarh branch includes these elements, identifying the bank and the branch location in Raigarh and Chhattisgarh correctly.
How to Find IFSC Code for Indian Bank?
To find the IFSC Code IDIB000R516 of Indian Bank for its Raigarh branch located in Raigarh, the following methods can help you out:
Cheque Book
The cheque book issued by Indian Bank includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including Indian Bank branches in Raigarh and Raigarh, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Indian Bank and go to the branch locator section. Then search for Raigarh or Raigarh to find the exact IFSC Code IDIB000R516.
Mobile Banking App
If you use Indian 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 Indian Bank and Raigarh will provide accurate information.
How to Use IFSC Code IDIB000R516 for Online Transfers?
Once you have the IFSC Code IDIB000R516 for the Raigarh branch of Indian Bank in Raigarh, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code IDIB000R516. 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 Indian Bank IFSC Code IDIB000R516.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Indian Bank Raigarh in Raigarh, 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 Indian Bank in Raigarh, 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 Indian Bank website.
- Search the RBI portal.
Having both the IFSC and MICR codes makes it easy for account holders in Raigarh to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is IDIB000R516.
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 Gaurishankar Mandir Road Raigarh Itwari Bazar Raigarh Raigarh Pin 496001 located in Raigarh, Raigarh, Chhattisgarh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.