Indusind Bank IFSC Code Finder

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Difference Between Branch Code, IFSC Code and MICR Code

The branch code is a unique identifier that helps distinguish one branch of a bank from another within the same network. It is typically a combination of numbers or letters assigned to each branch to facilitate easy identification and communication within the banking system. This code is important for internal record-keeping, customer service, and other administrative purposes within the bank.
On the other hand, the IFSC (Indian Financial System Code) is a crucial code used for electronic fund transfers in India. It is an alphanumeric code that consists of 11 characters and is assigned by the Reserve Bank of India to each bank branch participating in the NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) systems. The IFSC code helps ensure accurate routing of funds between banks and branches, thereby minimizing errors and delays in transactions.
Additionally, the MICR (Magnetic Ink Character Recognition) code is a technology used for authenticating banks on documents like cheques. It consists of a unique combination of numbers and characters printed in magnetic ink at the bottom of cheques to facilitate automated processing.
The MICR code helps in identifying the bank and branch where the cheque is drawn, ensuring secure and efficient cheque processing.
In summary, while the branch code helps identify specific bank branches within a network, the IFSC code is essential for electronic fund transfers, and the MICR code plays a vital role in authenticating banks on cheques for efficient processing. Together, these codes play a crucial role in ensuring smooth and secure financial transactions within the banking system.

IndusInd Bank: IFSC code

The Indian Financial System Code (or IFSC) is an 11-digit alpha-numeric code assigned by the Reserve Bank of India to identify every bank branch participating in the payment system uniquely. This code is used by electronic payment system applications such as RTGS, and NEFT. It is mandatory for fund transfers from one bank account to another. Every bank branch will have a unique code and no two branches (even of the same bank) will ever be the same.

For IndusInd Bank's 11-digit IFSC code, the first four letters will be 'INDB', and the last 6 digits will represent a specific branch code. For example, the IFSC code of the IndusInd Bank branch on the Ground Floor, Plot No 12, Block No 172, Jor Bagh Market, New Delhi, is INDB0001035. Here, 001035 is the branch code.

According to IndusInd Bank's investor presentation for the first quarter of FY18, it had 1,210 branches and 2,090 ATMs.

Timings
RTGS: Customers can transfer money from 9.00 hours to 16.00 hours from Monday to Saturday.
NEFT: Customers can transfer money to other account via Internet banking or by visiting branch from 8.00 am to 6.30 pm.

Charges NEFT/RTGS
Inward remittances: free
Outward remittances