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IDBI Bank IFSC and MICR Code:

State wise list of IDBI Bank IFSC code, MICR code and addresses of all branches in India

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IDBI Bank IFSC Code:

IDBI Bank IFSC Code

The way we transfer funds in India has changed dramatically since the introduction of Electronic funds transfer. The Reserve Bank of India (RBI) has introduced three methods of fund transfer: National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS). These methods make use of IFSC (Indian Financial system Code) which is a set of characters unique to each branch of banks in India. The IFSC code ensures that there is no confusion when one transfers funds. They also aid the process of making transfers fast and completely safe.

IFSC code consists of 11 characters with both alphabets and numbers. Every bank which participates in the NEFT network will be assigned a unique IFSC code. It encompasses three parts: the first four characters are alphabets and represent the name of the bank. This is followed by the digit ‘0’ which is there for future use. The final six characters are usually numbers and indicate a particular branch.

For example, here is a breakup of the IFSC code of branch of IDBI Bank:

IBKL0000147 - IFSC Code for an IDBI Bank:

  • First four alphabets - IBKL – indicates the name of the bank (in this case IDBI Bank)
  • 0 - For future use
  • 000147 - Indicates a particular branch of IDBI Branch

How to Search for IDBI IFSC and MICR Codes?

As long as you know the name of the bank and the branch, it is a simple task to find the IFSC and MICR codes of a bank. For example, to find the IFSC code of a particular branch of IDBI Bank, one can simply look for it on a cheque book/leaf issued by IDBI Bank. The Reserve Bank of India offer the public a complete list of IFSC codes of all the banks in India. Alternatively, you can log on to the official website of the IDBI bank to find the IFSC code. It is also possible to log on to third party financial websites such as BankBazaar to find this information.

By logging on to BankBazaar, you will be presented with a complete list of IFSC codes for almost every bank, including that of IDBI Bank. Following are the steps you should follow to get the IFSC or MICR codes that you require:

  1. Visit the BankBazaar website, scroll down the homepage, find the ‘Bank IFSC Code’ tab and click on it.
  2. This will open a second page where there will be a few drops down menus from which you will have to choose the ones that you are looking for.
  3. There will be a ‘Select Bank’ drop down options will show you a list of banks that you can choose from. You must click on ‘IDBI’, followed by the appropriate option for ‘Select State’, ‘Select District’ and ‘Select Branch’. BankBazaar will generate the IFSC and MICR codes as soon as you select the mentioned information. The generated table will not only provide you with the codes but also the phone number, address of the branch, name, branch code etc.
  4. You can also choose to browse through the list of banks which are provided on the same page and find the bank manually to get the IFSC code.

Transferring funds has never been easier with the introduction of NEFT, RTGS and IMPS services.

National Electronic Funds Transfer (NEFT):

The NEFT or National Electronic Funds Transfers works on Deferred Net Settlements. The settlements are done in batches on an hourly schedule. As long as you have debited the amount within the time-frame that is stipulated by the bank, it will be credited to the beneficiary on the same day. If not, the amount will be credited on the following working day. You will need the following information to use NEFT service at IDBI:

  • The name of the receiver
  • The name of the receiver’s bank and branch
  • The receiver’s account number
  • The IFSC code of the receiver’s bank branch
  • The amount to be transferred

Real Time Gross Settlement System (RTGS):

Real Time Gross Settlement System (RTGS transfers funds on an individual basis which means that the clearance of funds are scheduled individually and not batchwise. RTGS is one of the quickest and safest ways to transfer funds. IDBI ensures that all the transactions will be completed on the same day that the customer debits the fund, unless it has been done after the indicated time frame.

You will need the following information to use RTGS service at IDBI:

  • The receiver’s name
  • The receiver’s bank and branch name
  • IFSC Code of the receiver’s bank
  • The transfer amount
  • The receiver’s account number
  • A remark for the receiver, if any

The following are the charges for availing the RTGS service (for outward transactions) at IDBI:

Range Transaction Charge
Rs. 2 lakh to Rs.5 lakh Not exceeding Rs. 30 per transaction
Rs. 5 lakh and above Not exceeding Rs. 55 per transaction

Timings for Transactions:

Days Timings
Weekdays 9:00 Am to 4:15 PM
Weekend 9:00 Am to 1:00 PM

Established in 1964 under the Industrial Development Bank of India Act, IDBI (Industrial Development Bank of India) is a government-owned financial service company. It was formerly known as Industrial Development Bank of India. The headquarters of the bank is in Mumbai and the bank was an effort by the government to provide credit and other financial facilities for the development of Indian industry.

Today IDBI has over 1700 branches and 1285 centres in mostly India but also a few abroad. IDBI provides solutions for all the financial needs of customers including net banking, wealth management, telephone banking, investment banking, private banking, retail banking, corporate banking, all kinds of loans, finance & insurance, credit cards, private equity and more.

News Related to IDBI Bank IFSC Code
  • IDBI Looking for Stressed Asset Fund Partner

    Public sector IDBI Bank is looking to tie up with stressed asset funds to recover big-ticket non-performing loans. The bank is in talks with two entities for arrangements that go beyond provisions, the emphasis was on making units operational again. IDBI’s NPA grew to 13.05% this September, in comparison to 6.92% the same time last year. Banks efforts at resolution of stressed loans is gaining ground.

    3rd November 2016

  • IDBI surged 5% on Government stake

    All the shares of IDBI went up by 5% in trade due to the reports that four bidders were planning to acquire a section of the government stake. According to a report Asian Development Bank, GIC of Singapore, Commonwealth Development Corporation and IFC are eyeing on IDBI bank stakes.

    The Government went very close on finalising the conditions of the deal. IFC and ADB might be getting board seats whereas Credit Suisse and Citi will be providing advice to IDBI about fund raising. If you wish to know the IFSC code of any IDBI bank branch near your house, you can find it on Bankbazaar.

    19th October 2016

  • PM instates IDBI Bank in the capital

    The Prime Minister, Shri Narendra Modi, today, during the inaugural ceremony of IDBI Bank in New Delhi, stated that the banking arena is all geared to attain a huge surge of development in villages, not unlike how telecom industry rose to popularity a couple or so decades ago. The PM congratulated the bank for its prosperous journey and commended their efforts to bring banking into as many rural regions as possible. He also mentioned how the new digital banking is more accessible. And can be a great means to curtail influx of black money in the country as online transactions using IFSC Code is transparent and is instantly recorded.

    29th August 2016

  • IDBI becomes the first public sector bank to open branch at IFSC

    IDBI has become the first state owned bank to open an International Banking Unit or IBU at International Financial Services Center or IFSC in Gandhinagar. The bank expects to grow its global financing business through this new IBU branch. The new branch is expected to meet the foreign currency demand of its banking clients and is expected to provide a full range of banking services to its customers.

    The bank hopes that in the next few years, Gandhinagar will be able to retain a lot of financial business that is currently going out in the absence of an IFSC. Earlier, KOtak Mahindra too opened its IBU branch at the IFSC in Gandhinagar.

    9th May 2016

  • IDBI Bank Sees Steep Increase in Profit

    IDBI Bank, a government owned lender, reported a 27% increase in its net profit. The bank witnessed a steep rise in the fees levied to the customers and in its non - interest income - trading. The net interest income rose by 19. 5% and the growth in other income of 28. 5% which subsequently led to the 22% growth in its operating income. IDBI Bank offers a range of products varying from deposits, accounts and loans to internet banking. Using Net Banking, the customer can make NEFT fund transfers in an instant by mentioning the beneficiary account number and the IFSC code of beneficiary bank.

    4th January 2016

  • Treasury Business Continuity Centre Opened by IDBI Bank in Mumbai

    One of India’s top private sector bank, IDBI Bank has opened a Treasury Business Continuity Centre (BCP) in Bandra Kurla Complex in Mumbai. The new Centre will be a near-site alternative to IDBI Bank’s main Treasury Dealing office during incidents of business disruptions and disasters. The Treasury Business Continuity Centre will contain the latest technology and will have excellent connectivity with operations relating to several market segments, handling back office, front office and mid-office services for Treasury.

    IDBI Bank is known for its Core Banking platform with customer oriented services and an experienced team handling its large clientele. The bank offers state-of-the-art e-banking services inclusive of mobile and internet banking services. IDBI Bank customers can easily place requests for credit instruments, manage their bank accounts and make transfers via IFSC codes to any branch in India. Along with this customers can also use the phone banking services provided by IDBI and contact the customer care for any banking queries.

    10th December 2015

  • Tab Banking Services Introduced by IDBI Bank

    Customers can open bank accounts with just one touch using the latest tab banking solutions introduced by IDBI Bank. JusTab is available on tablets and can be accessed by customers from the comfort of their homes or offices. If a bank account has to be opened, then the bank official will visit the customer’s home and complete the bank account opening procedure. The bank official will also receive the required documents and photograph from the customer, capturing data using tablets. The saved information is then transferred to IDBI Bank’s processing centre, after the bank has verified the details.

    As an effort to provide convenient and efficient banking services to customers, IDBI has come up with this tab service. JusTab was launched by certain members of the board, namely Shri Pankaj Vats, Ms. Snehlata Shrivastava, Shri Ninad Karpe,Shri S. Ravi and Shri B.K. Batra at the Bank’s Corporate Centre. As one of the top public sector banks in India, IDBI Bank is known for its e-banking services available to customers on secure platforms. Customers can manage their bank accounts and make fund transfers with IFSC codes using the internet and mobile banking services provided by IDBI Bank. The bank also has a vast retail portfolio with personalised banking solutions and competitive pricing of products.

    24th November 2015

  • Rs. 49,000 Crore to be raised by IDBI Bank

    The Board of IDBI has given its approval to raise foreign currency debt to a maximum of USD 7.5 billion which amounts to around Rs. 49,000 crore. This proposal increases the foreign currency borrowing limit. There are many ways of raising the debt such as through lines of credit or credit facilities or syndicated loans among others. IDBI Bank closed at Rs 79.05, up Rs 5.15, or 6.97 percent. The 52-week high of the share was Rs 84.80 and the 52-week low was Rs 52.45. The company's trailing 12-month (TTM) EPS was at Rs 5.63 per share as per the quarter ended June 2015. The stock's price-to-earnings (P/E) ratio was 14.04. The latest book value of the company is Rs 141.24 per share. At current value, the price-to-book value of the company is 0.59.

    IDBI Bank offers various facilities such as online banking, easy to avail loans and online transfer of funds via IFSC codes.

    23rd November 2015

  • IDBI and Mudra Sign Agreement for Loan Refinancing

    In a significant move that will benefit small enterprises in the country, IDBI and Mudra bank signed an agreement where the former will provide loans up to Rs.10 lacs to micro enterprises and the latter will extend refinance assistance. Under this agreement, credit facility will be extended at competitive interest rates under the Pradhan Mantri Mudra Yojana (PMMY).

    In a similar pact, Bank of Maharashtra had signed an agreement with Mudra bank during the first week of July for extending loan refinancing to small businesses. Banks and Financial institutions are taking great interest in offering credit facilities to MSME (Micro, Small & Medium Enterprises).

    If you’re looking up for IFSC of a specific branch of IDBI bank, find it under the “Resources” section on the homepage of BankBazaar.com.

    15th July 2015

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