Indian Bank IFSC Code & MICR Code Directory

An 11-digit identification number called the Indian Bank IFSC code aids in directing online money transfers to the appropriate branch. However, the nine-digit MICR code, which is printed at the bottom of checks, expedites the processing of checks. These codes work together to guarantee secure and easy banking transactions. To find out more about the IFSC and MICR codes for Indian Bank, continue reading.

The beneficiary's account's bank and branch are uniquely identified by the Indian Financial System Code (IFSC), guaranteeing that money is transferred accurately and promptly. It is essential for facilitating safe online transactions, including e-commerce purchases, insurance premiums, tax payments, and bill and installment payments.

IFSC codes lower the risk of fraud by tracking and monitoring transactions in addition to facilitating transfers. The regulatory authority can regulate and supervise electronic payments thanks to the IFSC's standardisation of digital transfers, which improves the banking system's transparency and consumer protection.

MICR (Magnetic Ink Character Recognition) is a 9-digit code printed at the bottom of a cheque. It helps speed up and secure the cheque clearance process. Each MICR code is unique to a specific bank branch, allowing quick and accurate identification during processing. The code is printed in magnetic ink, which can be easily read by MICR machines for faster clearing.

MICR Code Format
The 9-digit MICR code is structured as follows:
First 3 digits – Represent the city (aligned with the PIN code)
Next 3 digits – Denote the bank
Last 3 digits – Indicate the branch

It's easy to find your bank's IFSC code. It is easily found on the first page of your bank passbook or in your chequebook. Processing any kind of online fund transfer, whether through RTGS, IMPS, or NEFT, requires the IFSC code. No digital fund transfer can be finished without a valid IFSC code.

Make sure you have the beneficiary's information before starting a transfer:

Indian Bank allows seamless fund transfers through NEFT, RTGS, and IMPS, making it easy for customers to send money across different banks, accounts, cities, and states with ease and security.

RTGS is ideal for high-value fund transfers starting from ₹1 lakh. Customers can use either net banking or visit their nearest Indian Bank branch to initiate a transfer.

To complete the RTGS transaction, the following details are required:
• Recipient's full name
• Account number and account type
• Bank name and branch
• IFSC code of the recipient's bank
• Transfer amount
• Optional remarks for the recipient

Availability:
RTGS services are operational on weekdays and Saturdays, excluding Sundays and national holidays.

NEFT is best suited for transferring smaller sums, typically below ₹1 lakh. Transfers can be done either through net banking or by visiting the Indian Bank branch.

To initiate an NEFT transfer, customers must provide the following details in the Fund Transfer Instruction form:
• Recipient's name
• Account number and account type
• Bank name and branch
• IFSC code of the recipient's bank
• Transfer amount
• Optional message or remark for the recipient

Note: NEFT transactions are processed in batches throughout the working day, ensuring safe and efficient fund transfers.

Indian Bank provides a range of accounts designed to meet the needs of both individuals and businesses. In addition to facilitating transactions and saving, these accounts also allow users to earn interest on deposits and maintain financial stability.

To open an account with Indian Bank, you must meet the following conditions:
• Must be a citizen of India
• 18 years or older (Minors can have accounts opened on their behalf by parents or legal guardians)
• Must have valid identity and address proof issued by the government
• Must make an initial deposit based on the type of account and its minimum balance requirements

To open the account, you'll need to submit:

Proof of Identity (any one):
• Aadhaar Card
• Passport
• Driving License
• Voter ID Card

Proof of Address (any one):
• Aadhaar Card
• Passport
• Driving License
• Voter ID Card
• PAN Card (mandatory)
• Form 16 (only if PAN is unavailable)
• Recent passport-size photographs