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Kotak Mahindra Bank is part of the Kotak Group. It is one of the fastest-growing banks in India and is also considered to be the most valued financial institutions. The bank offers services such as transaction banking, IPO execution, and also offers loans of various forms. The bank’s primary business activities are combined into verticals such as consumer banking, corporate banking, commercial banking, treasury, and miscellaneous financial

services. The bank has grown exponentially since its inception and today boasts of more than 1500 branches and nearly 2352 ATMs across 744 locations.

Kotak Mahindra bank offers a wide range of financial products and services to numerous customers across the nation. With end to end financial solutions designed to cater to infinite needs of all customers, the bank ensures to deliver these through a state of the art and latest technology platform. Investment products such as Mutual Funds, gold coins retailing, Life Insurance, etc. are also a part of the bank’s offerings. The bank offers seamless banking facilities through mobile banking, SMS services, home banking and also BillPay facility.

IFSC code is provided by the Reserve Bank of India (RBI) to banks and branches for easy identification. This can be commonly found in a passbook and also cheque leaflet issued by the bank. One can also find IFSC codes of banks on the RBI website. All fund transfer requests made through a bank need IFSC code. Some of the fund transfer requests that are commonly used include NEFT, RTGS and IMPS.

What is the purpose of an IFSC code?

Here are some of the reasons why the IFSC code is essential to all banks:

  • IFSC codes are used for easy identification of the payer and payee bank/branch.
  • It allows the elimination of any error in fund transfer requests.
  • IFSC code is required for online payments including NEFT, RTGS, and IMPS.

Functionality of IFSC Codes

For any bank transfer, the payer has to register the payee as the transaction beneficiary through net banking. At the time of registration, details such as name, payee’s account number, contact details, IFSC code of the payee, etc have to be mentioned. Post this step, the payer receives an OTP, after which, the beneficiary account is reserved under a cooling period of half an hour as per the bank’s policy.

After the cooling period is over, the payer can initiate fund transfer through IMPS, NEFT or RTGS. For this, he has to select the beneficiary, transfer amount and One Time Password (OTP). With the help of the IFSC code and payee’s account number, the account and branch are easily identified. Post this, the amount gets electronically transferred to the payee’s account.

IFSC Code Errors and Resolution

Post demonetisation, online money transfers became the new norm as people preferred to transfer money from one account to another account online. Online transfers have become popular because they are easy and the beneficiary receives the money almost instantly in the account. While making domestic fund transfers between accounts, the IFSC code is an essential piece of information which facilitates the transfer. Despite its importance, very few of us know what it stands for and why it is needed while making the online fund transfer.

While using IFSC code for bank transfers, it is possible to either make a mistake or use the wrong code. This is why it is important to double-check before submitting the transaction or initiating the fund transfer. Incorrect IFSC codes could lead to issues in easily getting the bank transfer process completed. Usually, the money may revert to the payer’s account. In some cases, an incorrect account may get credited. While there are many ways to recover the incorrectly transferred funds, the process for the same could be quite lengthy.

Here are some IFSC code-related tips which can be used to avoid mistakes during online fund transfer:

  • Ensure to verify the IFSC code by looking up reputed websites such as RBI, bank website and Credit Mantri
  • Double-check details such as account number, IFSC Code, etc before adding a beneficiary or clicking on the submit option
  • After adding a new beneficiary account, make sure to do a test transfer of a small amount like Rs. 10 into the payee’s account. Await confirmation to make sure that all the details are correct and funds are being received in the right account. Initiate a larger amount of transfer only once the payee confirms the fund transfer.

Finding IFSC Code for Kotak Mahindra Bank

IFSC code can be found on bank cheque book and also on the first page of bank passbook. Account-holders can also find IFSC code of any bank branch online. While searching the IFSC code for a specific bank branch, one can also mention the bank name, state, district, and branch name. This will easily show up the exact IFSC code of the bank branch.

All IFSC codes can also be found on the CreditMantri website. To know the bank or branch name along with IFSC code, key in the bank by IFSC code in google search. IFSC code for all branches of Kotak Mahindra bank can be found on the bank’s website apart from RBI website. These are regularly updated and hence must be checked for the correct code from time to time.

What is MICR?

MICR or Magnetic Ink Character Recognition Code is essential for cheque transfer transactions.  Any cheque deposited at the bank branch is scanned for authentication and checking for its legality. Every bank verifies the presented instrument’s authenticity before clearing it safely and securely. MICR is a 9-digit code specific to the branch. It can be seen mentioned on the cheque leaflet. The first 3 digits of MICR code is the city code in numeric form and the next 3 digits are bank code. The remaining 3 digits are branch code.

MICR code allows faster cheque processing and is used in cheque processing via an electronic device (machine).  MICR code is mainly required for various financial transaction processing including SIP, fund transfer forms, etc.

How to look for MICR Code? 

MICR number can be seen written on the right side of any cheque no. It is generally mentioned at the end of every cheque leaflet.


1. Why do I need to have Kotak Mahindra Bank IFSC code?

Kotak Mahindra IFSC code is required for any kind of online fund transfer requirements. IFSC code is a must and has to be stated in the form while initiating a fund transfer request. It represents the specific bank and branch combination and makes it easy for RBI to identify the payee during a transaction.

2. Is it possible to look for Kotak Mahindra IFSC code online?

Yes. You can easily find Kotak Mahindra IFSC code online on any good website including Credit Mantri. You can also look it up on RBI and the bank website.

3. Can two Kotak Mahindra bank branches have the same IFSC codes?

No. IFSC code is unique to each branch and hence it is not possible to have the same code for two branches.

4. Is MICR code essential for banks?

MICR helps banks to identify and verify the authenticity of cheques and documents used during any monetary transactions. Banks rely on this technology to process cheques in a faster way. MICR code helps RBI in identifying specific participating bank branches.

5. Can I do online money transfer across banks?

Yes. You can initiate money transfer online from one bank to another by using one of the payment mechanisms like National Electronic Fund Transfer (NEFT), Real-time Gross Settlement (RTGS), Immediate Payment Service (IMPS), or Unified Payment Interface (UPI).

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