IFSC Code UTIB0004202 of Axis Bank Melli Bazar Branch

Here are the UTIB0004202 IFSC code details of Axis Bank, Melli Bazar branch located in South Sikkim, Sikkim. This code is used for NEFT, RTGS and IMPS transactions within Melli and nearby areas. Customers use this branch for routine banking and digital transfers.

Axis Bank Melli Bazar Branch Details

Branch Location

Nearby Axis Bank Branches

Nearby ATMs

Nearby BNA Machines

Uses of IFSC code

The IFSC code UTIB0004202 of Axis Bank, Melli Bazar branch is commonly used for various financial transactions across India. It helps in identifying the exact bank branch details during fund transfers. Using the correct IFSC code ensures that funds are transferred quickly and reach the intended branch without errors.

This IFSC code is used for salary credits, online shopping refunds, and transferring money through NEFT, RTGS, and IMPS services. In addition, it is used for government-related payments such as subsidies, pension transfers, and scholarship disbursements. This IFSC code plays an important role in both personal and business banking.

IFSC code and banking illustration

The cases in which the IFSC code is used during bank financial transactions are given below:

• During online banking.
• NEFT (National Electronic Fund Transfer).
• IMPS (Immediate Payment Service) : Bank account holders can transfer funds 24x7, 365 days.
• RTGS (Real Time Gross Settlement) : However, in this case, transactions of more than 2 lakh per day cannot be done.

Explore more branches of Axis Bank in Sikkim.

Format of IFSC Code

IFSC is an 11-character alphanumeric code where the first four characters represent the bank, the fifth character is always zero, and the last six characters identify the branch.

• Bank Code: The first four letters of the code, i.e., Axis Bank, denote the name of the bank which is Axis Bank.
• ZERO: The fifth character is 0.
• Branch Code: The last six digits of the code, i.e., 000001, represent the branch which is Axis Bank.

How to find IFSC and MICR codes

The IFSC and MICR codes can be found in all the bank documents:

1. Bank passbook.
2. Checkbook.
3. Bank statements.
4. Reserve Bank of India's website.
5. The IFSC code of a particular bank can also be found on the bank's official website.

MICR code is used for faster and more secure processing of cheques.

Benefits of MICR code

The benefits of MICR codes are the following:

1. High speed/faster processing.
2. High-level security.
3. Authentication of Docs.
4. Increased Accuracy.
5. Fraud prevention.
6. Readability.
7. Efficient clearing.
8. Standardization.

MICR code is used for faster and more secure processing of cheques.

Frequently Asked Questions