IFSC Code of Axis Bank, Choithram Mandi Branch, Madhya Pradesh

This page lists the IFSC code, branch address, contact number and fund-transfer information for Axis Bank, CHOITHRAM MANDI branch in INDORE. The 11-digit IFSC UTIB0005291 uniquely identifies this branch in the RBI's centralised payments network and is required for every NEFT, RTGS or IMPS transaction routed to this branch. If you are paying somebody who banks with Axis Bank at the CHOITHRAM MANDI location, this is the only IFSC you need.

We have organised this page into clearly labelled sections so you can jump straight to the part that interests you — the IFSC and MICR details, the full postal address, the contact phone number, a quick primer on NEFT, RTGS and IMPS, the typical product line-up at the branch, and a frequently asked questions section that addresses the queries people raise most often about this branch.

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.

For Axis Bank's CHOITHRAM MANDI branch, the IFSC UTIB0005291 breaks down as follows: UTIB identifies the bank, 0 is the reserved character, and 005291 identifies this particular branch.

About the bank

Axis Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Choithram Mandi branch in Indore, Madhya Pradesh is part of this network and uses the IFSC code UTIB0005291 for all electronic settlement.

About this branch

The branch is located at GROUND FLOOR, 4 AMITESH NAGAR, OPP CHOITHRAM MANDI, INDORE. It serves the Indore region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Axis Bank. The IFSC UTIB0005291 is used to identify this branch on the RBI payments network.

Branch details at a glance

Why every Axis Bank branch has a unique IFSC

Before electronic settlement systems went live in India, money transfers between banks relied heavily on demand drafts, mail transfers and telegraphic transfers. These older instruments routinely took days to clear and were prone to misrouting because there was no single machine-readable identifier for a branch. The Reserve Bank of India solved this by issuing each participating branch — including CHOITHRAM MANDI of Axis Bank — its own 11-character IFSC. The code UTIB0005291 is therefore not just an internal reference; it is the digital postcode that lets the RBI's NEFT, RTGS and IMPS rails route funds straight to the right branch ledger without any human intervention.

Today, almost every salary credit, vendor payment, refund and EMI deduction in the country flows through this network, which is exactly why a correct IFSC matters so much. A wrong character can either bounce the transfer or send it to the wrong branch, and reversing such a credit is a manual, time-consuming process. Treat IFSC UTIB0005291 the same way you would treat your account number — verify it once and save it carefully for future use.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Axis Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC UTIB0005291 and the account number together uniquely identify the Choithram Mandi branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC UTIB0005291

Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC UTIB0005291 across all three.

How to use IFSC UTIB0005291 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Axis Bank's CHOITHRAM MANDI branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC UTIB0005291.
4. Confirm the bank name auto-populates as Axis Bank and the branch as CHOITHRAM MANDI.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

Real-Time Gross Settlement to CHOITHRAM MANDI

If you need to transfer ₹2 lakh or more in one go to an account at Axis Bank's CHOITHRAM MANDI branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC UTIB0005291 while initiating the transfer and the credit will appear within minutes.

Send money instantly through IMPS

For a real-time, anytime transfer to Axis Bank – CHOITHRAM MANDI, use IMPS. With IFSC UTIB0005291 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC UTIB0005291 for Axis Bank – CHOITHRAM MANDI, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.

For most retail customers crediting the Choithram Mandi branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.

How UPI relates to the IFSC code

UPI lets you pay using a short Virtual Payment Address instead of typing the IFSC every time, but behind the scenes every UPI mandate is mapped to an account number plus an IFSC. For accounts at Axis Bank's CHOITHRAM MANDI branch, the IFSC UTIB0005291 is what the National Payments Corporation of India (NPCI) uses to route the credit when you tap Pay on a UPI app.

That is why, even in the UPI era, it is still worth knowing the IFSC of your home branch — for failed UPI mandates, e-mandate set-ups, third-party platform onboarding and salary or refund credits.

Account types you can open at the Choithram Mandi branch

Once you have an account at Axis Bank – CHOITHRAM MANDI, the IFSC UTIB0005291 stays the same regardless of the type of account you hold. The branch typically supports the following options:

• Savings account — for individuals, with chequebook, ATM card and net-banking access.
• Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
• Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
• NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
• Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
• Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
• Minor and student accounts — operated jointly with a guardian until the customer turns 18.

Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.

Products and services

Customers walking into the Choithram Mandi branch can access most of Axis Bank's standard product suite, including:

• Account opening – savings, current, NRI, salary
• Term deposits and recurring deposits
• Retail and small-business loans
• Insurance and mutual-fund tie-ups
• Locker, safe deposit and ATM card services
• Online and mobile banking activation
• Electronic transfers via IFSC UTIB0005291

Digital banking channels

Most day-to-day work that customers used to do at the Choithram Mandi branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC UTIB0005291 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.

How to reach the Choithram Mandi branch

The branch is located at GROUND FLOOR, 4 AMITESH NAGAR, OPP CHOITHRAM MANDI, INDORE, which puts it inside Indore, the broader Indore district, and the state of Madhya Pradesh. To plan your visit:

1. Open Google Maps on your phone and search for “Axis Bank Choithram Mandi branch” — the verified location pin for IFSC UTIB0005291 should appear at the top of the results.
2. Confirm the branch is open by calling 731-9243234663 before stepping out, especially around public holidays.
3. Carry photo ID and any account-related documents you may need for the transaction you plan to do.

Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC UTIB0005291 and your account number.

Common mistakes to avoid when using IFSC UTIB0005291

An incorrect IFSC almost always results in a failed transfer or, worse, a credit to the wrong branch. Before you click Confirm on a transfer to Axis Bank – CHOITHRAM MANDI, double-check for these issues:

• Confusing 0 with O. The fifth character of every IFSC is the digit 0, not the letter O. Read carefully.
• Spaces or hyphens. Do not put spaces in the IFSC. It is exactly 11 characters: UTIB0005291.
• Wrong branch. A bank can have dozens of branches in the same city. Make sure you are using the IFSC for the actual branch where the beneficiary holds the account, not just any nearby branch.
• Old IFSC after a merger. If two banks have merged, the IFSC may have been reissued. Always verify with a recent passbook or cheque leaf.
• Copy-paste from chat. Auto-correct on phones can silently change letters in IFSC codes. Type carefully or copy from a trusted source like the cheque book.

Working hours

Branch counters at Choithram Mandi are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to UTIB0005291 continue to work without interruption.

Other ways to verify the IFSC code

While this page already lists the verified IFSC UTIB0005291 for Axis Bank – CHOITHRAM MANDI, you can cross-check the code from any of these sources before initiating a high-value transfer:

• The front of the cheque book issued by the branch – the IFSC is printed at the top of every leaf.
• The first page of your passbook.
• The bank's official website under the branch locator.
• The Reserve Bank of India's IFSC search portal.
• Net banking dashboards usually display the home-branch IFSC under account details.

Branch address & contact

Frequently asked questions

Summary

The IFSC code UTIB0005291 belongs to Axis Bank's CHOITHRAM MANDI branch, located at GROUND FLOOR, 4 AMITESH NAGAR, OPP CHOITHRAM MANDI, INDORE in INDORE, MADHYA PRADESH. Use this code along with the beneficiary's account number for any NEFT, RTGS or IMPS transfer to this branch. Bookmark this page for quick reference whenever you need the branch's banking details.