Indian Bank IFSC Code IDIB000M228

Indian Bank – MICROSATE, PALAKOL

IFSC Code: IDIB000M228

MICR Code: 534019303

Branch: MICROSATE, PALAKOL

Bank: Indian Bank

Address: 26-5-1/3 SURYATEJAS NAGAR PALAKOL 534260

District: WEST GODAVARI

State: ANDHRA PRADESH

Contact:

Indian Financial System Code (IFSC): IDIB000M228

The IFSC is an 11-character alphanumeric code used to identify bank branches in India for electronic payment systems such as RTGS, NEFT, IMPS, and CFMS (managed by the Reserve Bank of India).

• The first four characters represent the bank name.
• The fifth character is always ‘0’ and is reserved for future use.
• Branch Code 00M228. The last six characters denote the specific bank branch.

MICR Code (Magnetic Ink Character Recognition): 534019303

The MICR code is a unique code printed on cheques using magnetic ink. It helps in the secure and faster processing and clearance of cheques by identifying the bank and branch.