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.
In Indian Bank's 11-digit
IFSC code, the first four letters will be 'IDIB', and the last 6 digits will represent a specific branch code. For example, the
IFSC code of the
Indian Bank branch on 106 & 107 Aurobindo Place, DDA Commercial Complex, Delhi 110016, is IDIB000H019. Here, 00H019 is the branch code.
According to the bank's annual report for the financial year 2016-17, 117 branches and 574 ATMs/BNAs were opened during the year to touch 6037 delivery points, including 2,679 brick and mortar branches and 3,358 ATMs.
RTGS timings Customer Transactions
Week days: 8.00 am to 4.30 pm
Saturdays: 8.00 am to 2 pm
Inter-bank Transactions
Week days: 8.00 am to 7.45 pm
Saturdays: 8.00 am to 3 pm
NEFT timings Only Customer Transactions
Week days: 8.00 am to 7 pm
Saturdays: 8.00 am to 1 pm
The bank holds 38.26% in ASREC and its board on Friday has approved a plan to fully or partly sell the stake. Bank of India, Union Bank of India, Life Insurance Corporation of India and Deutsche Bank are other stakeholders.
SBI, HDFC Bank, IndusInd Bank and Axis Bank are among the institutions that reported climate risks to nonprofit environmental disclosure platform CDP in 2020.
At the end of the December quarter, the lender’s total advances grew 7% out of which retail loans climbed 12%. Including the investments made through the targeted long term repo operations (TLTRO), the corporate book expanded 7%. Almost 75% of the bank’s exposure is to corporates rated above the investment grade.
At the end of the December quarter, the lender’s total advances grew 7% out of which retail loans climbed 12%. Including the investments made through the targeted long term repo operations (TLTRO), the corporate book expanded 7%. Almost 75% of the bank’s exposure is to corporates rated above the investment grade.
Extraordinary General Meeting (EGM) of the bank was held on 2nd March, 2021 through video conferencing/other audio visual means in accordance with government guidelines, the bank said in a regulatory filing.
