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 Lakhipur branch in Sahebganj, Lakhipur, Jharkhand, 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 Sahebganj or anywhere in Jharkhand can transfer funds instantly by using the correct IFSC Code IDIB000L516. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Indian Bank, Lakhipur, Sahebganj
The table below shows the main details of the IFSC Code IDIB000L516 for the Indian Bank branch in Sahebganj, which falls under the Lakhipur district in Jharkhand.
| Particulars | Details |
|---|---|
| Bank | Indian Bank |
| IFSC Code | IDIB000L516 |
| Branch | Lakhipur |
| City | Sahebganj |
| District | Lakhipur |
| State | Jharkhand |
| Address | Vill P O Lakhipur Block Pathana Lakhipur Lakhipur Pin 816110 |
These details are essential not only for online banking users but also for businesses and individuals who use Indian Bank in Sahebganj for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code IDIB000L516 for the Lakhipur branch of Indian 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 Indian Bank located in Lakhipur, Sahebganj, Jharkhand, is provided with a unique IFSC like IDIB000L516 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Indian Bank branch in Sahebganj.
- 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 Sahebganj and Lakhipur.
- 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 Jharkhand and the rest of India and the IFSC Code ensures that transactions meant for Indian Bank in Lakhipur do not get mixed with another location.
Format of the IFSC Code IDIB000L516
The format of the IFSC Code for banks, including Indian Bank, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): These represent the bank code. In Indian 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 Lakhipur in Sahebganj.
For example, the IFSC Code IDIB000L516 of Indian Bank for the Lakhipur branch has these elements, identifying the bank and the branch location in Sahebganj and Jharkhand correctly.
How to Find IFSC Code for Indian Bank?
If you are trying to find the IFSC Code IDIB000L516 of Indian Bank for its Lakhipur branch located in Sahebganj, the following methods can help:
Cheque Book
The cheque books that are issued by Indian 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 Indian Bank branches in Sahebganj and Lakhipur, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Indian Bank and find the branch locator section. Search for Lakhipur or Sahebganj to get the exact IFSC Code IDIB000L516.
Mobile Banking App
If you use Indian 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 Indian Bank and Sahebganj that will provide accurate information.
How to Use IFSC Code IDIB000L516 for Online Transfers?
If you have the IFSC Code IDIB000L516 for the Lakhipur branch of Indian Bank in Sahebganj, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code IDIB000L516. 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 Indian Bank IFSC Code IDIB000L516.
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 Indian Bank Lakhipur in Sahebganj, it may result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Indian Bank in Lakhipur, you can find it by any of the following ways:
- Check the bottom of your cheque leaf.
- Go to the first page of your passbook.
- Visit the official Indian Bank website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Sahebganj manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is IDIB000L516.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is Vill P O Lakhipur Block Pathana Lakhipur Lakhipur Pin 816110 located in Sahebganj, Lakhipur, Jharkhand.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.