Below are the complete branch details for Axis Bank, MAHALAXMI branch, located in MUMBAI, MAHARASHTRA. The IFSC assigned by the Reserve Bank of India to this branch is UTIB0002623. Whether you want to transfer money, add a beneficiary, verify a cheque or simply confirm the branch address, you will find authentic, up-to-date information on this page that has been cross-checked against the bank's branch directory and the RBI's master list of participants in the National Electronic Funds Transfer system.
The IFSC code is one of the most frequently asked-for pieces of information when somebody wants to send you money or set up a recurring credit such as a salary, EMI auto-debit or supplier payment. Knowing exactly which IFSC belongs to your branch — in this case UTIB0002623 for Axis Bank – MAHALAXMI — saves you from rejected transfers, returned credits and the back-and-forth that follows them.
The Indian Financial System Code, popularly known as IFSC, is an 11-digit alphanumeric code that the RBI assigns to every bank branch participating in online interbank settlement. Without this code, an electronic transfer simply cannot reach its destination branch.
The IFSC for Axis Bank – MAHALAXMI is UTIB0002623. The first four letters UTIB are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 002623 map to this branch in MUMBAI, MAHARASHTRA.
About Axis Bank
Axis Bank operates a wide network of branches across India, including the Mahalaxmi branch in Mumbai. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, UTIB0002623.
About this branch
The branch is located at GROUND FLOOR VIVAREA COMPLEX SANE GURUJI MARG MUMBAI MAHARASHTRA PIN 400011. It serves the Mumbai 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 UTIB0002623 is used to identify this branch on the RBI payments network.
Branch details at a glance
| Bank Name | Axis Bank |
|---|---|
| Branch | Mahalaxmi |
| IFSC Code | UTIB0002623 |
| MICR Code | Refer to cheque leaf |
| Branch Address | GROUND FLOOR VIVAREA COMPLEX SANE GURUJI MARG MUMBAI MAHARASHTRA PIN 400011 |
| City | Mumbai |
| District | Greater Bombay |
| State | Maharashtra |
| STD Code | 91 |
| Phone | 8879645541 |
The role of IFSC in India's payments network
India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Axis Bank's MAHALAXMI branch came to be assigned the code UTIB0002623.
Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC UTIB0002623, money simply cannot be routed to the MAHALAXMI branch electronically.
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 UTIB0002623 and the account number together uniquely identify the Mahalaxmi branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.
How to transfer money using IFSC UTIB0002623
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 UTIB0002623 across all three.
How to use IFSC UTIB0002623 for an NEFT transfer
NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Axis Bank's MAHALAXMI 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).
- Log in to your internet banking or mobile banking app.
- Choose Add Beneficiary and select NEFT / Other Bank.
- Enter the beneficiary name, account number and the IFSC UTIB0002623.
- Confirm the bank name auto-populates as Axis Bank and the branch as MAHALAXMI.
- Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.
RTGS transfers via IFSC UTIB0002623
RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to Axis Bank – MAHALAXMI, ensure your bank's portal accepts IFSC UTIB0002623 while registering the beneficiary. RTGS is also available 24x7.
IMPS to Axis Bank MAHALAXMI (IFSC UTIB0002623)
IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC UTIB0002623 in your mobile or internet banking app, and the money is credited to the MAHALAXMI branch account within seconds.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC UTIB0002623 for Axis Bank – MAHALAXMI, 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.
| Parameter | NEFT | RTGS | IMPS |
|---|---|---|---|
| Minimum amount | ₹1 | ₹2,00,000 | ₹1 |
| Maximum amount | No RBI cap | No RBI cap | ₹5,00,000 |
| Settlement | Half-hourly batches | Real-time | Real-time |
| Availability | 24x7 | 24x7 | 24x7 |
| Best for | Routine transfers | High-value transfers | Urgent small / mid transfers |
| IFSC required | Yes – UTIB0002623 | Yes – UTIB0002623 | Yes – UTIB0002623 |
For most retail customers crediting the Mahalaxmi 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.
UPI payments and IFSC UTIB0002623
UPI (Unified Payments Interface) has become the default way for individuals to send money in India. While most UPI transactions are addressed using a Virtual Payment Address (VPA) like name@bank, the underlying account at Axis Bank – MAHALAXMI is still mapped to IFSC UTIB0002623. When a customer links a savings or current account to a UPI app for the first time, the app silently looks up this IFSC against the account number to verify the account exists. The VPA acts as a friendly alias on top of the same plumbing.
If a UPI transfer to or from this branch fails, the most common reasons are an inactive UPI handle, a daily limit breach or a temporary outage at one of the participating banks — not the IFSC. You can always fall back to NEFT or IMPS using the IFSC UTIB0002623 and the beneficiary's account number to complete the transfer.
Account types you can open at the Mahalaxmi branch
Once you have an account at Axis Bank – MAHALAXMI, the IFSC UTIB0002623 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 Mahalaxmi 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 UTIB0002623
Online banking and IFSC UTIB0002623
Axis Bank customers can register for net banking and the bank's official mobile app once their account at the MAHALAXMI branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC UTIB0002623 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.
How to reach the Mahalaxmi branch
The branch is located at GROUND FLOOR VIVAREA COMPLEX SANE GURUJI MARG MUMBAI MAHARASHTRA PIN 400011, which puts it inside Mumbai, the broader Greater Bombay district, and the state of Maharashtra. To plan your visit:
- Open Google Maps on your phone and search for “Axis Bank Mahalaxmi branch” — the verified location pin for IFSC UTIB0002623 should appear at the top of the results.
- Confirm the branch is open by calling 91-8879645541 before stepping out, especially around public holidays.
- 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 UTIB0002623 and your account number.
Common mistakes to avoid when using IFSC UTIB0002623
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 – MAHALAXMI, 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:
UTIB0002623. - 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 Mahalaxmi 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 UTIB0002623 continue to work without interruption.
Other ways to verify the IFSC code
While this page already lists the verified IFSC UTIB0002623 for Axis Bank – MAHALAXMI, 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
Axis BankMahalaxmi Branch
GROUND FLOOR VIVAREA COMPLEX SANE GURUJI MARG MUMBAI MAHARASHTRA PIN 400011
Mumbai, Maharashtra
Phone: 91-8879645541
IFSC: UTIB0002623
Frequently asked questions
Is IFSC UTIB0002623 the same for all accounts at Mahalaxmi branch?
Yes. The IFSC UTIB0002623 is shared by every account held at Axis Bank's Mahalaxmi branch. Only the account number changes from customer to customer.
What is the IFSC code of Axis Bank Mahalaxmi branch?
The IFSC code of Axis Bank, Mahalaxmi branch is UTIB0002623. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
How quickly will an NEFT transfer using UTIB0002623 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Axis Bank – Mahalaxmi reflect within 30 minutes.
How do I add Axis Bank Mahalaxmi as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC UTIB0002623, and complete OTP verification. Once activated, you can transfer funds at any time.
Can I use IFSC UTIB0002623 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC UTIB0002623 to send funds instantly.
Does Axis Bank Mahalaxmi branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 91-8879645541 to confirm.
Summary
The IFSC code UTIB0002623 belongs to Axis Bank's MAHALAXMI branch, located at GROUND FLOOR VIVAREA COMPLEX SANE GURUJI MARG MUMBAI MAHARASHTRA PIN 400011 in MUMBAI, MAHARASHTRA. 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.
