IFSC Code of IDBI Bank, Shri Mahalaxmi Co Operative Bank Ltd Branch, Maharashtra

If you are searching for the IFSC code of IDBI Bank, SHRI MAHALAXMI CO OPERATIVE BANK LTD branch in KOLHAPUR, MAHARASHTRA, this page has every detail you need. The verified IFSC code for this branch is IBKL0116MCO. You can use it for NEFT, RTGS and IMPS fund transfers, online banking add-payee actions, UPI mandates and any other electronic payment request that asks for an Indian Financial System Code. The information on this page is curated specifically for customers, remitters, employers and businesses who need to credit funds to an account maintained at this branch, and it is structured so you can find what you need within a few seconds of landing here.

You will see the complete branch address, the area STD code and phone number, the city and state, the day-to-day banking services that are typically offered at the SHRI MAHALAXMI CO OPERATIVE BANK LTD branch, and detailed step-by-step guides for using the IFSC IBKL0116MCO across NEFT, RTGS and IMPS rails. A frequently-asked-questions section at the end answers the most common queries we receive about this particular 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 IDBI Bank's SHRI MAHALAXMI CO OPERATIVE BANK LTD branch, the IFSC IBKL0116MCO breaks down as follows: IBKL identifies the bank, 0 is the reserved character, and 116MCO identifies this particular branch.

About IDBI Bank

IDBI Bank operates a wide network of branches across India, including the Shri Mahalaxmi Co Operative Bank Ltd branch in Kolhapur. 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, IBKL0116MCO.

Branch details at a glance

Shri Mahalaxmi Co Operative Bank Ltd branch overview

Located at SHRI MAHALAXMI CO OPERATIVE BANK LTD SHREE BHAVAN, 167, B WARD, MANGALWAR PETH, KOLHAPUR 416012, the Shri Mahalaxmi Co Operative Bank Ltd branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC IBKL0116MCO is required for all interbank electronic transfers routed through this branch.

Why every IDBI 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 SHRI MAHALAXMI CO OPERATIVE BANK LTD of IDBI Bank — its own 11-character IFSC. The code IBKL0116MCO 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 IBKL0116MCO the same way you would treat your account number — verify it once and save it carefully for future use.

Products and account variants supported

Every account opened at the Shri Mahalaxmi Co Operative Bank Ltd branch is mapped to IFSC IBKL0116MCO 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 IBKL0116MCO.

Products and services

Customers walking into the Shri Mahalaxmi Co Operative 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 IBKL0116MCO

How to transfer money using IFSC IBKL0116MCO

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 IBKL0116MCO across all three.

NEFT to IDBI Bank, SHRI MAHALAXMI CO OPERATIVE BANK LTD using IFSC IBKL0116MCO

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 IBKL0116MCO, and confirm that the system picks up IDBI Bank – SHRI MAHALAXMI CO OPERATIVE BANK LTD. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to SHRI MAHALAXMI CO OPERATIVE BANK LTD

If you need to transfer ₹2 lakh or more in one go to an account at IDBI Bank's SHRI MAHALAXMI CO OPERATIVE BANK LTD branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC IBKL0116MCO while initiating the transfer and the credit will appear within minutes.

IMPS to IDBI Bank SHRI MAHALAXMI CO OPERATIVE BANK LTD (IFSC IBKL0116MCO)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IBKL0116MCO in your mobile or internet banking app, and the money is credited to the SHRI MAHALAXMI CO OPERATIVE BANK LTD branch account within seconds.

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

All three modes accept the IFSC IBKL0116MCO for IDBI Bank – SHRI MAHALAXMI CO OPERATIVE 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 Shri Mahalaxmi Co Operative 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.

UPI payments and IFSC IBKL0116MCO

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 IDBI Bank – SHRI MAHALAXMI CO OPERATIVE BANK LTD is still mapped to IFSC IBKL0116MCO. 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 IBKL0116MCO and the beneficiary's account number to complete the transfer.

Digital banking channels

Most day-to-day work that customers used to do at the Shri Mahalaxmi Co Operative 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 IBKL0116MCO 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 Shri Mahalaxmi Co Operative Bank Ltd branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IBKL0116MCO 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 – SHRI MAHALAXMI CO OPERATIVE BANK LTD:

• The IFSC is exactly IBKL0116MCO 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 SHRI MAHALAXMI CO OPERATIVE 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 Shri Mahalaxmi Co Operative Bank Ltd branch sits at SHRI MAHALAXMI CO OPERATIVE BANK LTD SHREE BHAVAN, 167, B WARD, MANGALWAR PETH, KOLHAPUR 416012. If you are travelling from outside Kolhapur, search for the branch on a maps application using the bank name and locality, or call 23-25530530 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 IBKL0116MCO and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IBKL0116MCO for IDBI Bank – SHRI MAHALAXMI CO OPERATIVE BANK LTD, 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.

Working hours

Branch counters at Shri Mahalaxmi Co Operative Bank Ltd 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 IBKL0116MCO continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code IBKL0116MCO belongs to IDBI Bank's SHRI MAHALAXMI CO OPERATIVE BANK LTD branch, located at SHRI MAHALAXMI CO OPERATIVE BANK LTD SHREE BHAVAN, 167, B WARD, MANGALWAR… in KOLHAPUR, 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.