Shri Mahalaxmi Co-operative Bank Kolhapur
Shri Mahalaxmi Co-operative Bank Kolhapur IMPS BRANCH
+912325530530
Understanding IFSC Code: The Digital DNA of Shri Mahalaxmi Co-operative Bank Kolhapur
When performing any digital transaction in India, the Indian Financial System Code
(IFSC) acts as a critical identifier. For the Shri Mahalaxmi Co-operative Bank Kolhapur IMPS
branch of Shri Mahalaxmi Co-operative Bank Kolhapur, the code IBKL0116MCO ensures
that your funds are routed through the Reserve Bank of India's (RBI) structured network without manual
errors. In an era of instant payments, having the correct IFSC is as important as the account number
itself.
Anatomy of the IBKL0116MCO Code
An IFSC is an 11-character alphanumeric code. Let's break down the logic behind the code for this specific branch:
Bank Identity
"IBKL" represents Shri Mahalaxmi Co-operative Bank Kolhapur
Control Character
Always '0' (Reserved for future use)
Branch Locator
Unique code for Shri Mahalaxmi Co-operative Bank Kolhapur IMPS
Payment Systems Supported by IBKL0116MCO
| System | Transfer Limit | Processing Time |
|---|---|---|
| NEFT | No Minimum (Up to ₹50 Lakhs+) | Half-hourly batches (24x7) |
| RTGS | Minimum ₹2 Lakhs | Real-time settlement |
| IMPS | Up to ₹5 Lakhs | Instant (Mobile/P2P) |
Why do you need the MICR Code?
While IFSC is for digital transfers, the Magnetic Ink Character Recognition
(MICR) code—416389001—is primarily
used for the processing and clearance of physical cheques. This 9-digit code helps in
identifying the bank and branch during the Cheque Truncation System (CTS) cycle, making clearing
faster and error-free.
Bank Holidays & Availability
The Shri Mahalaxmi Co-operative Bank Kolhapur in KOLHAPUR typically follows the RBI holiday calendar. Digital transfers via IBKL0116MCO for NEFT/RTGS are now available 365 days a year, regardless of physical branch timings or Sunday closures.
Security Warning & Verification
Always verify the branch details before making a large payment. While IBKL0116MCO is the valid code for Shri Mahalaxmi Co-operative Bank Kolhapur IMPS at KOLHAPUR, ensure the beneficiary name matches perfectly in your mobile banking app.
Bank Search Indexing & Metadata
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Financial Tools
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Branch Context
- • Shri Mahalaxmi Co-operative Bank Kolhapur IMPS Contact
- • Address of Shri Mahalaxmi Co-operative Bank Kolhapur
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Platform Links
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