Use this page as a one-stop reference for everything related to IDBI Bank's PROGRESSIVE CO OPERATIVE BANK LTD SION branch in MUMBAI, MAHARASHTRA. The branch's IFSC code IBKL0454PC2 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.
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 PROGRESSIVE CO OPERATIVE BANK LTD SION branch, the IFSC IBKL0454PC2 breaks down as follows: IBKL identifies the bank, 0 is the reserved character, and 454PC2 identifies this particular branch.
Branch details at a glance
| Bank Name | IDBI Bank |
|---|---|
| Branch | Progressive Co Operative Bank Ltd Sion |
| IFSC Code | IBKL0454PC2 |
| MICR Code | Refer to cheque leaf |
| Branch Address | LTN94 95,1STFLR,RUAMBUILDING,SINCIRCLE,SINEAST,MUMBAI400022 |
| City | Mumbai |
| District | Greater Bombay |
| State | Maharashtra |
| STD Code | 22 |
| Phone | 24078007 |
About the bank
IDBI Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Progressive Co Operative Bank Ltd Sion branch in Mumbai, Maharashtra is part of this network and uses the IFSC code IBKL0454PC2 for all electronic settlement.
About the Progressive Co Operative Bank Ltd Sion branch
The Progressive Co Operative Bank Ltd Sion branch of IDBI Bank is situated at LTN94 95,1STFLR,RUAMBUILDING,SINCIRCLE,SINEAST,MUMBAI400022. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code IBKL0454PC2 is used.
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 PROGRESSIVE CO OPERATIVE BANK LTD SION of IDBI Bank — its own 11-character IFSC. The code IBKL0454PC2 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 IBKL0454PC2 the same way you would treat your account number — verify it once and save it carefully for future use.
How to transfer money using IFSC IBKL0454PC2
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 IBKL0454PC2 across all three.
How to use IFSC IBKL0454PC2 for an NEFT transfer
NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to IDBI Bank's PROGRESSIVE CO OPERATIVE BANK LTD SION 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 IBKL0454PC2.
- Confirm the bank name auto-populates as IDBI Bank and the branch as PROGRESSIVE CO OPERATIVE BANK LTD SION.
- Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.
RTGS transfers via IFSC IBKL0454PC2
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 – PROGRESSIVE CO OPERATIVE BANK LTD SION, ensure your bank's portal accepts IFSC IBKL0454PC2 while registering the beneficiary. RTGS is also available 24x7.
Send money instantly through IMPS
For a real-time, anytime transfer to IDBI Bank – PROGRESSIVE CO OPERATIVE BANK LTD SION, use IMPS. With IFSC IBKL0454PC2 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 IBKL0454PC2 for IDBI Bank – PROGRESSIVE CO OPERATIVE BANK LTD SION, 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 – IBKL0454PC2 | Yes – IBKL0454PC2 | Yes – IBKL0454PC2 |
For most retail customers crediting the Progressive Co Operative Bank Ltd Sion 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 IBKL0454PC2
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 – PROGRESSIVE CO OPERATIVE BANK LTD SION is still mapped to IFSC IBKL0454PC2. 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 IBKL0454PC2 and the beneficiary's account number to complete the transfer.
Products and account variants supported
Every account opened at the Progressive Co Operative Bank Ltd Sion branch is mapped to IFSC IBKL0454PC2 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 IBKL0454PC2.
Products and services
Customers walking into the Progressive Co Operative Bank Ltd Sion 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 IBKL0454PC2
MICR & cheque-truncation details
Cheques drawn on the Progressive Co Operative Bank Ltd Sion branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC IBKL0454PC2 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.
Online banking and IFSC IBKL0454PC2
IDBI Bank customers can register for net banking and the bank's official mobile app once their account at the PROGRESSIVE CO OPERATIVE BANK LTD SION 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 IBKL0454PC2 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.
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 – PROGRESSIVE CO OPERATIVE BANK LTD SION:
- The IFSC is exactly IBKL0454PC2 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 PROGRESSIVE CO OPERATIVE BANK LTD SION 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 Progressive Co Operative Bank Ltd Sion branch sits at LTN94 95,1STFLR,RUAMBUILDING,SINCIRCLE,SINEAST,MUMBAI400022. If you are travelling from outside Mumbai, search for the branch on a maps application using the bank name and locality, or call 22-24078007 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 IBKL0454PC2 and your account number.
Verifying IFSC IBKL0454PC2 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 IBKL0454PC2 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 22-24078007.
- 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 Progressive Co Operative Bank Ltd Sion branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IBKL0454PC2, however, work 24x7.
Branch address & contact
IDBI BankProgressive Co Operative Bank Ltd Sion Branch
LTN94 95,1STFLR,RUAMBUILDING,SINCIRCLE,SINEAST,MUMBAI400022
Mumbai, Maharashtra
Phone: 22-24078007
IFSC: IBKL0454PC2
Frequently asked questions
What is the difference between IFSC and MICR code?
IFSC is an 11-character alphanumeric code used for online transfers, while MICR is a 9-digit numeric code printed on cheques and used by cheque-clearing machines. Both identify the Progressive Co Operative Bank Ltd Sion branch but serve different purposes.
How do I add IDBI Bank Progressive Co Operative Bank Ltd Sion as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC IBKL0454PC2, and complete OTP verification. Once activated, you can transfer funds at any time.
Where is IDBI Bank Progressive Co Operative Bank Ltd Sion branch located?
IDBI Bank's Progressive Co Operative Bank Ltd Sion branch is located at LTN94 95,1STFLR,RUAMBUILDING,SINCIRCLE,SINEAST,MUMBAI400022, Mumbai, Maharashtra.
What is the phone number of IDBI Bank Progressive Co Operative Bank Ltd Sion branch?
You can reach the branch at 22-24078007 during regular banking hours.
Can I use IFSC IBKL0454PC2 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC IBKL0454PC2 to send funds instantly.
How quickly will an NEFT transfer using IBKL0454PC2 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to IDBI Bank – Progressive Co Operative Bank Ltd Sion reflect within 30 minutes.
Does IDBI Bank Progressive Co Operative Bank Ltd Sion branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 22-24078007 to confirm.
What is the IFSC code of IDBI Bank Progressive Co Operative Bank Ltd Sion branch?
The IFSC code of IDBI Bank, Progressive Co Operative Bank Ltd Sion branch is IBKL0454PC2. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
Final notes
To recap: IBKL0454PC2 is the IFSC code of IDBI Bank, PROGRESSIVE CO OPERATIVE BANK LTD SION branch, in MUMBAI, MAHARASHTRA. 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.
