IFSC Code of Indian Bank, Mumbai Parel Branch, Maharashtra

Below are the complete branch details for Indian Bank, MUMBAI PAREL branch, located in LALBAUG, MAHARASHTRA. The IFSC assigned by the Reserve Bank of India to this branch is IDIB000P578. 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 IDIB000P578 for Indian Bank – MUMBAI PAREL — 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 Indian Bank – MUMBAI PAREL is IDIB000P578. The first four letters IDIB are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 00P578 map to this branch in LALBAUG, MAHARASHTRA.

Branch details at a glance

About the bank

Indian Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Mumbai Parel branch in Lalbaug, Maharashtra is part of this network and uses the IFSC code IDIB000P578 for all electronic settlement.

About the Mumbai Parel branch

The Mumbai Parel branch of Indian Bank is situated at DR AMBEDKAR ROAD PAREL POST BOX NO 6610 HIRAMANI SUPER MARKET LALBAUG LALBAUG LALBAUG LOWER PAREL PIN 400012. 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 IDIB000P578 is used.

Why every Indian 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 MUMBAI PAREL of Indian Bank — its own 11-character IFSC. The code IDIB000P578 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 IDIB000P578 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 IDIB000P578

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 IDIB000P578 across all three.

NEFT to Indian Bank, MUMBAI PAREL using IFSC IDIB000P578

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 IDIB000P578, and confirm that the system picks up Indian Bank – MUMBAI PAREL. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC IDIB000P578

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 – MUMBAI PAREL, ensure your bank's portal accepts IFSC IDIB000P578 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to Indian Bank – MUMBAI PAREL, use IMPS. With IFSC IDIB000P578 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

Comparing NEFT, RTGS and IMPS for transfers to Mumbai Parel

The right transfer rail depends on how urgent the payment is, how large it is, and whether the receiving bank participates in the chosen scheme. Every option below works with the IFSC IDIB000P578:

• NEFT — best for everyday transfers of any amount; settles in half-hourly batches around the clock.
• RTGS — best for transfers of ₹2 lakh and above; settles each transaction individually in real time.
• IMPS — best when speed matters more than batch scheduling; instant credit up to ₹5 lakh.
• UPI — best for small peer-to-peer payments using a VPA; the underlying account at MUMBAI PAREL is still linked to IFSC IDIB000P578.

For salary credits, vendor payouts and refunds, employers and merchants usually default to NEFT because of its zero per-transaction cost for retail customers and its 24x7 availability.

UPI payments and IFSC IDIB000P578

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 Indian Bank – MUMBAI PAREL is still mapped to IFSC IDIB000P578. 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 IDIB000P578 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Mumbai Parel branch is mapped to IFSC IDIB000P578 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 IDIB000P578.

Banking services available

The Mumbai Parel branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 22-24702634.

• Savings, current and salary accounts
• Fixed deposits and recurring deposits
• Personal, vehicle and home loans
• Demat and investment products (where supported)
• Internet banking and mobile banking enrolment
• Debit and credit card issuance
• Locker facilities (subject to availability)
• Foreign exchange services (at authorised branches)
• Bill payments, demand drafts and pay orders
• NEFT / RTGS / IMPS / UPI fund transfers using IFSC IDIB000P578

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 IDIB000P578 and the account number together uniquely identify the Mumbai Parel branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Online banking and IFSC IDIB000P578

Indian Bank customers can register for net banking and the bank's official mobile app once their account at the MUMBAI PAREL 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 IDIB000P578 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 Indian Bank – MUMBAI PAREL:

• The IFSC is exactly IDIB000P578 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills Indian Bank as the bank name and MUMBAI PAREL 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.

How to reach the Mumbai Parel branch

The branch is located at DR AMBEDKAR ROAD PAREL POST BOX NO 6610 HIRAMANI SUPER MARKET LALBAUG LALBAUG LALBAUG LOWER PAREL PIN 400012, which puts it inside Lalbaug, the broader Mumbai district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “Indian Bank Mumbai Parel branch” — the verified location pin for IFSC IDIB000P578 should appear at the top of the results.
2. Confirm the branch is open by calling 22-24702634 before stepping out, especially around public holidays.
3. 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 IDIB000P578 and your account number.

Verifying IFSC IDIB000P578 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 IDIB000P578 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 22-24702634.
• Visiting the bank's official branch locator page.

Working hours

Branch counters at Mumbai Parel 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 IDIB000P578 continue to work without interruption.

Branch address & contact

Frequently asked questions

Final notes

To recap: IDIB000P578 is the IFSC code of Indian Bank, MUMBAI PAREL branch, in LALBAUG, 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.