IFSC Code of IDBI Bank, The Grain Merchants Co Operatve Bank Ltd Branch, Karnataka

Use this page as a one-stop reference for everything related to IDBI Bank's THE GRAIN MERCHANTS CO OPERATVE BANK LTD branch in BANGALORE, KARNATAKA. The branch's IFSC code IBKL0551GMC is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.

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 IDBI Bank – THE GRAIN MERCHANTS CO OPERATVE BANK LTD is IBKL0551GMC. The first four letters IBKL are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 551GMC map to this branch in BANGALORE, KARNATAKA.

About IDBI Bank

IDBI Bank operates a wide network of branches across India, including the The Grain Merchants Co Operatve Bank Ltd branch in Bangalore. 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, IBKL0551GMC.

Branch details at a glance

About this branch

The branch is located at N0 2 PAMPAMAHAKAVI ROAD, CHAMARAJPET, NEAR MINTO EYE HOSPITAL CIRCLE BANGALORE 560018. It serves the Bangalore region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of IDBI Bank. The IFSC IBKL0551GMC is used to identify this branch on the RBI payments network.

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 IDBI Bank's THE GRAIN MERCHANTS CO OPERATVE BANK LTD branch came to be assigned the code IBKL0551GMC.

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 IBKL0551GMC, money simply cannot be routed to the THE GRAIN MERCHANTS CO OPERATVE BANK LTD branch electronically.

Products and account variants supported

Every account opened at the The Grain Merchants Co Operatve Bank Ltd branch is mapped to IFSC IBKL0551GMC on the RBI payments network. The branch generally supports the full retail product catalogue of IDBI Bank, including:

• Resident savings accounts and salary accounts
• Current accounts for businesses and professionals
• Fixed deposits, recurring deposits and tax-saver deposits
• Demand drafts, banker's cheques and pay orders
• Retail loans — personal, vehicle, education, gold and home
• Credit cards and overdraft facilities (subject to eligibility)
• Third-party investment products such as mutual funds and insurance (through tie-ups)

Whichever product you choose, the IFSC for incoming credits remains IBKL0551GMC.

Products and services

Customers walking into the The Grain Merchants Co Operatve Bank Ltd branch can access most of IDBI 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 IBKL0551GMC

How to transfer money using IFSC IBKL0551GMC

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 IBKL0551GMC across all three.

NEFT to IDBI Bank, THE GRAIN MERCHANTS CO OPERATVE BANK LTD using IFSC IBKL0551GMC

National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.

To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC IBKL0551GMC, and confirm that the system picks up IDBI Bank – THE GRAIN MERCHANTS CO OPERATVE BANK LTD. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC IBKL0551GMC

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 IDBI Bank – THE GRAIN MERCHANTS CO OPERATVE BANK LTD, ensure your bank's portal accepts IFSC IBKL0551GMC while registering the beneficiary. RTGS is also available 24x7.

IMPS to IDBI Bank THE GRAIN MERCHANTS CO OPERATVE BANK LTD (IFSC IBKL0551GMC)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IBKL0551GMC in your mobile or internet banking app, and the money is credited to the THE GRAIN MERCHANTS CO OPERATVE BANK LTD branch account within seconds.

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

All three modes accept the IFSC IBKL0551GMC for IDBI Bank – THE GRAIN MERCHANTS CO OPERATVE BANK LTD, 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 The Grain Merchants Co Operatve Bank Ltd 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 IDBI Bank's THE GRAIN MERCHANTS CO OPERATVE BANK LTD branch, the IFSC IBKL0551GMC 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.

Digital banking channels

Most day-to-day work that customers used to do at the The Grain Merchants Co Operatve Bank Ltd 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 IBKL0551GMC 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.

MICR & cheque-truncation details

Cheques drawn on the The Grain Merchants Co Operatve Bank Ltd branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IBKL0551GMC for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

Things to verify before sending money

Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to IDBI Bank – THE GRAIN MERCHANTS CO OPERATVE BANK LTD:

• The IFSC is exactly IBKL0551GMC with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills IDBI Bank as the bank name and THE GRAIN MERCHANTS CO OPERATVE BANK LTD as the branch.
• The amount and the purpose of payment are correct.
• You have a valid OTP-verifying mobile number on hand.

A 30-second review here saves hours of reconciliation later.

Reaching the branch

The The Grain Merchants Co Operatve Bank Ltd branch sits at N0 2 PAMPAMAHAKAVI ROAD, CHAMARAJPET, NEAR MINTO EYE HOSPITAL CIRCLE BANGALORE 560018. If you are travelling from outside Bangalore, search for the branch on a maps application using the bank name and locality, or call 40-26677552 to ask for landmarks. Many customers find it easier to skip the trip altogether: net banking, mobile apps, NEFT, RTGS, IMPS and UPI all work using the IFSC IBKL0551GMC and your account number.

Verifying IFSC IBKL0551GMC from official sources

The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm IBKL0551GMC by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 40-26677552.
• Visiting the bank's official branch locator page.

Branch banking hours and holidays

Indian bank branches typically operate from 10:00 AM to 4:00 PM, Monday to Friday, and from 10:00 AM to 2:00 PM on working Saturdays (usually the 1st, 3rd and 5th Saturdays). The The Grain Merchants Co Operatve Bank Ltd branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IBKL0551GMC, however, work 24x7.

Branch address & contact

Frequently asked questions

Final notes

To recap: IBKL0551GMC is the IFSC code of IDBI Bank, THE GRAIN MERCHANTS CO OPERATVE BANK LTD branch, in BANGALORE, KARNATAKA. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.