IFSC Code of Indusind Bank, Banedia Branch, Madhya Pradesh

If you are searching for the IFSC code of Indusind Bank, BANEDIA branch in DEPALPUR, MADHYA PRADESH, this page has every detail you need. The verified IFSC code for this branch is INDB0000940. You can use it for NEFT, RTGS and IMPS fund transfers, online banking add-payee actions, UPI mandates and any other electronic payment request that asks for an Indian Financial System Code. The information on this page is curated specifically for customers, remitters, employers and businesses who need to credit funds to an account maintained at this branch, and it is structured so you can find what you need within a few seconds of landing here.

You will see the complete branch address, the area STD code and phone number, the city and state, the day-to-day banking services that are typically offered at the BANEDIA branch, and detailed step-by-step guides for using the IFSC INDB0000940 across NEFT, RTGS and IMPS rails. A frequently-asked-questions section at the end answers the most common queries we receive about this particular 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, INDB0000940 is the IFSC of Indusind Bank's BANEDIA branch. The format is fixed: INDB = bank code, 0 = reserved, 000940 = branch identifier.

About Indusind Bank

Indusind Bank operates a wide network of branches across India, including the Banedia branch in Depalpur. 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, INDB0000940.

Branch details at a glance

About the Banedia branch

The Banedia branch of Indusind Bank is situated at HOUSE NO 113 WARD NO 3 CHOURAHA BANEDIA TEHSIL DEPALPUR DIST INDORE 453551. 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 INDB0000940 is used.

Why every Indusind 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 BANEDIA of Indusind Bank — its own 11-character IFSC. The code INDB0000940 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 INDB0000940 the same way you would treat your account number — verify it once and save it carefully for future use.

Products and account variants supported

Every account opened at the Banedia branch is mapped to IFSC INDB0000940 on the RBI payments network. The branch generally supports the full retail product catalogue of Indusind 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 INDB0000940.

Products and services

Customers walking into the Banedia branch can access most of Indusind 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 INDB0000940

How to transfer money using IFSC INDB0000940

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 INDB0000940 across all three.

How to use IFSC INDB0000940 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Indusind Bank's BANEDIA 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 INDB0000940.
4. Confirm the bank name auto-populates as Indusind Bank and the branch as BANEDIA.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

Real-Time Gross Settlement to BANEDIA

If you need to transfer ₹2 lakh or more in one go to an account at Indusind Bank's BANEDIA branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC INDB0000940 while initiating the transfer and the credit will appear within minutes.

IMPS to Indusind Bank BANEDIA (IFSC INDB0000940)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC INDB0000940 in your mobile or internet banking app, and the money is credited to the BANEDIA branch account within seconds.

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

All three modes accept the IFSC INDB0000940 for Indusind Bank – BANEDIA, 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 Banedia 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 INDB0000940

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 Indusind Bank – BANEDIA is still mapped to IFSC INDB0000940. 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 INDB0000940 and the beneficiary's account number to complete the transfer.

Digital banking channels

Most day-to-day work that customers used to do at the Banedia 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 INDB0000940 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 Indusind Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC INDB0000940 and the account number together uniquely identify the Banedia 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 INDB0000940

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 Indusind Bank – BANEDIA, 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: INDB0000940.
• 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 Banedia branch

The branch is located at HOUSE NO 113 WARD NO 3 CHOURAHA BANEDIA TEHSIL DEPALPUR DIST INDORE 453551, which puts it inside Depalpur, the broader Indore district, and the state of Madhya Pradesh. To plan your visit:

1. Open Google Maps on your phone and search for “Indusind Bank Banedia branch” — the verified location pin for IFSC INDB0000940 should appear at the top of the results.
2. Confirm the branch is open by calling 91-9111944969 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 INDB0000940 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC INDB0000940 for Indusind Bank – BANEDIA, 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 Banedia branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC INDB0000940, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code INDB0000940 belongs to Indusind Bank's BANEDIA branch, located at HOUSE NO 113 WARD NO 3 CHOURAHA BANEDIA TEHSIL DEPALPUR DIST INDORE 453551 in DEPALPUR, 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.