IFSC Code of Indian Bank, Palasia Formerly Ind Msme Indore Branch, Madhya Pradesh

This page lists the IFSC code, branch address, contact number and fund-transfer information for Indian Bank, PALASIA FORMERLY IND MSME INDORE branch in INDORE. The 11-digit IFSC IDIB000P233 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 Indian Bank at the PALASIA FORMERLY IND MSME INDORE 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.

IFSC stands for Indian Financial System Code. It is an 11-character code that pinpoints a particular bank branch on the RBI's real-time payment rails. Every NEFT, RTGS or IMPS instruction must carry the destination branch's IFSC for the credit to land in the correct account.

In our case, IDIB000P233 is the IFSC of Indian Bank's PALASIA FORMERLY IND MSME INDORE branch. The format is fixed: IDIB = bank code, 0 = reserved, 00P233 = branch identifier.

About Indian Bank

Indian Bank operates a wide network of branches across India, including the Palasia Formerly Ind Msme Indore branch in Indore. 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, IDIB000P233.

Branch details at a glance

About the Palasia Formerly Ind Msme Indore branch

The Palasia Formerly Ind Msme Indore branch of Indian Bank is situated at ADITYA ENCLAVE C1 HIG MAIN ROAD NEAR LIG SQUARE PIN 452015. 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 IDIB000P233 is used.

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 Indian Bank's PALASIA FORMERLY IND MSME INDORE branch came to be assigned the code IDIB000P233.

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 IDIB000P233, money simply cannot be routed to the PALASIA FORMERLY IND MSME INDORE branch electronically.

Products and account variants supported

Every account opened at the Palasia Formerly Ind Msme Indore branch is mapped to IFSC IDIB000P233 on the RBI payments network. The branch generally supports the full retail product catalogue of Indian 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 IDIB000P233.

Products and services

Customers walking into the Palasia Formerly Ind Msme Indore branch can access most of Indian 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 IDIB000P233

How to transfer money using IFSC IDIB000P233

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 IDIB000P233 across all three.

How to use IFSC IDIB000P233 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Bank's PALASIA FORMERLY IND MSME INDORE 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 IDIB000P233.
4. Confirm the bank name auto-populates as Indian Bank and the branch as PALASIA FORMERLY IND MSME INDORE.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC IDIB000P233

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 Indian Bank – PALASIA FORMERLY IND MSME INDORE, ensure your bank's portal accepts IFSC IDIB000P233 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Indian Bank PALASIA FORMERLY IND MSME INDORE (IFSC IDIB000P233)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IDIB000P233 in your mobile or internet banking app, and the money is credited to the PALASIA FORMERLY IND MSME INDORE branch account within seconds.

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

All three modes accept the IFSC IDIB000P233 for Indian Bank – PALASIA FORMERLY IND MSME INDORE, 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 Palasia Formerly Ind Msme Indore 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 Indian Bank's PALASIA FORMERLY IND MSME INDORE branch, the IFSC IDIB000P233 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.

Online banking and IFSC IDIB000P233

Indian Bank customers can register for net banking and the bank's official mobile app once their account at the PALASIA FORMERLY IND MSME INDORE 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 IDIB000P233 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.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Indian Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC IDIB000P233 and the account number together uniquely identify the Palasia Formerly Ind Msme Indore branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Common mistakes to avoid when using IFSC IDIB000P233

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 Indian Bank – PALASIA FORMERLY IND MSME INDORE, 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: IDIB000P233.
• 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.

Reaching the branch

The Palasia Formerly Ind Msme Indore branch sits at ADITYA ENCLAVE C1 HIG MAIN ROAD NEAR LIG SQUARE PIN 452015. If you are travelling from outside Indore, search for the branch on a maps application using the bank name and locality, or call 731-2433288 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 IDIB000P233 and your account number.

Verifying IFSC IDIB000P233 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 IDIB000P233 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 731-2433288.
• 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 Palasia Formerly Ind Msme Indore branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IDIB000P233, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code IDIB000P233 belongs to Indian Bank's PALASIA FORMERLY IND MSME INDORE branch, located at ADITYA ENCLAVE C1 HIG MAIN ROAD NEAR LIG SQUARE PIN 452015 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.