IFSC Code of Indian Overseas Bank, Koraput Branch, Odisha

Below are the complete branch details for Indian Overseas Bank, KORAPUT branch, located in KORAPUT, ODISHA. The IFSC assigned by the Reserve Bank of India to this branch is IOBA0001006. 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 IOBA0001006 for Indian Overseas Bank – KORAPUT — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

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, IOBA0001006 is the IFSC of Indian Overseas Bank's KORAPUT branch. The format is fixed: IOBA = bank code, 0 = reserved, 001006 = branch identifier.

About the bank

Indian Overseas Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Koraput branch in Koraput, Odisha is part of this network and uses the IFSC code IOBA0001006 for all electronic settlement.

Branch details at a glance

About the Koraput branch

The Koraput branch of Indian Overseas Bank is situated at 86 BY 812,1ST FLOOR,MALLA COMPLEX,POST OFFICE RD,KORAPUT 764020. 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 IOBA0001006 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 Overseas Bank's KORAPUT branch came to be assigned the code IOBA0001006.

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 IOBA0001006, money simply cannot be routed to the KORAPUT branch electronically.

Products and account variants supported

Every account opened at the Koraput branch is mapped to IFSC IOBA0001006 on the RBI payments network. The branch generally supports the full retail product catalogue of Indian Overseas 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 IOBA0001006.

Products and services

Customers walking into the Koraput branch can access most of Indian Overseas 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 IOBA0001006

How to transfer money using IFSC IOBA0001006

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 IOBA0001006 across all three.

How to use IFSC IOBA0001006 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indian Overseas Bank's KORAPUT 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 IOBA0001006.
4. Confirm the bank name auto-populates as Indian Overseas Bank and the branch as KORAPUT.
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 IOBA0001006

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 Overseas Bank – KORAPUT, ensure your bank's portal accepts IFSC IOBA0001006 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Indian Overseas Bank KORAPUT (IFSC IOBA0001006)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC IOBA0001006 in your mobile or internet banking app, and the money is credited to the KORAPUT branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Koraput

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 IOBA0001006:

• 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 KORAPUT is still linked to IFSC IOBA0001006.

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 Overseas Bank's KORAPUT branch, the IFSC IOBA0001006 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.

Digital banking channels

Most day-to-day work that customers used to do at the Koraput 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 IOBA0001006 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 code & cheque clearing

Apart from IFSC, every cheque book issued by Indian Overseas Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC IOBA0001006 and the account number together uniquely identify the Koraput 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 IOBA0001006

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 Overseas Bank – KORAPUT, 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: IOBA0001006.
• 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.

How to reach the Koraput branch

The branch is located at 86 BY 812,1ST FLOOR,MALLA COMPLEX,POST OFFICE RD,KORAPUT 764020, which puts it inside Koraput, the broader Koraput district, and the state of Odisha. To plan your visit:

1. Open Google Maps on your phone and search for “Indian Overseas Bank Koraput branch” — the verified location pin for IFSC IOBA0001006 should appear at the top of the results.
2. Confirm the branch is open by calling 6852-250358 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 IOBA0001006 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC IOBA0001006 for Indian Overseas Bank – KORAPUT, 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 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 Koraput branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC IOBA0001006, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code IOBA0001006 belongs to Indian Overseas Bank's KORAPUT branch, located at 86 BY 812,1ST FLOOR,MALLA COMPLEX,POST OFFICE RD,KORAPUT 764020 in KORAPUT, ODISHA. 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.