IFSC Code of Indian Bank, Matunga Bazaar Branch, Maharashtra

This page lists the IFSC code, branch address, contact number and fund-transfer information for Indian Bank, MATUNGA BAZAAR branch in MATUNGA BAZAAR. The 11-digit IFSC IDIB000M049 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 MATUNGA BAZAAR 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.

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 – MATUNGA BAZAAR is IDIB000M049. The first four letters IDIB are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 00M049 map to this branch in MATUNGA BAZAAR, MAHARASHTRA.

About Indian Bank

Indian Bank operates a wide network of branches across India, including the Matunga Bazaar branch in Matunga Bazaar. 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, IDIB000M049.

About this branch

The branch is located at 266A TEMPLE AVENUE DEODHAR ROAD MATUNGA BAZAAR MATUNGA EAST PIN 400019. It serves the Matunga Bazaar region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Indian Bank. The IFSC IDIB000M049 is used to identify this branch on the RBI payments network.

Branch details at a glance

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 MATUNGA BAZAAR branch came to be assigned the code IDIB000M049.

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 IDIB000M049, money simply cannot be routed to the MATUNGA BAZAAR branch electronically.

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 IDIB000M049 and the account number together uniquely identify the Matunga Bazaar branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC IDIB000M049

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 IDIB000M049 across all three.

NEFT to Indian Bank, MATUNGA BAZAAR using IFSC IDIB000M049

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 IDIB000M049, and confirm that the system picks up Indian Bank – MATUNGA BAZAAR. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC IDIB000M049

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 – MATUNGA BAZAAR, ensure your bank's portal accepts IFSC IDIB000M049 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Indian Bank MATUNGA BAZAAR (IFSC IDIB000M049)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IDIB000M049 in your mobile or internet banking app, and the money is credited to the MATUNGA BAZAAR branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Matunga Bazaar

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 IDIB000M049:

• 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 MATUNGA BAZAAR is still linked to IFSC IDIB000M049.

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.

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 MATUNGA BAZAAR branch, the IFSC IDIB000M049 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.

Products and account variants supported

Every account opened at the Matunga Bazaar branch is mapped to IFSC IDIB000M049 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 IDIB000M049.

Products and services

Customers walking into the Matunga Bazaar 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 IDIB000M049

Digital banking channels

Most day-to-day work that customers used to do at the Matunga Bazaar 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 IDIB000M049 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.

Reaching the branch

The Matunga Bazaar branch sits at 266A TEMPLE AVENUE DEODHAR ROAD MATUNGA BAZAAR MATUNGA EAST PIN 400019. If you are travelling from outside Matunga Bazaar, search for the branch on a maps application using the bank name and locality, or call 22-24142564 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 IDIB000M049 and your account number.

Common mistakes to avoid when using IFSC IDIB000M049

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 – MATUNGA BAZAAR, 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: IDIB000M049.
• 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.

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 Matunga Bazaar branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IDIB000M049, however, work 24x7.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IDIB000M049 for Indian Bank – MATUNGA BAZAAR, 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.

Branch address & contact

Frequently asked questions

Final notes

To recap: IDIB000M049 is the IFSC code of Indian Bank, MATUNGA BAZAAR branch, in MATUNGA BAZAAR, 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.