KKBK0003050 is the IFSC code of Kotak Mahindra Bank Limited, that is assigned by the Reserve Bank of India (RBI). This code helps the Indian financial system to transfer funds from bank account numbers in India and internationally like NEFT/RTGS/IMPS
The details above validate that the Kotak Mahindra Bank Limited has its operations in the Bakrol Bujrang, Gujarat branch located at the Ground Floor 42 43 44 45 M N Arcade Kunjad Dhamatvant Road Bakrol Bujrang 382430 Ahmedabad Gujarat. This confirms that if you plan on doing a financial transfer, you must be sure of the Kotak Mahindra Bank Limited IFSC code to ensure that the transfer happens without any hassles.
While all of us understand IFSC codes by now, let’s understand MICR code as well. This is termed as Magnetic Ink Character Recognition which is a character recognition technology that helps in processing cheques faster. Kotak Mahindra Bank Limited bank branch has a unique MICR code which helps RBI identify the Kotak Mahindra Bank Limited branch, and speed up the cheque clearing process.
While Kotak Mahindra Bank Limited IFSC is an 11 digit code, MICR is a 9 digit code, and the basic difference between these two codes is that IFSC code is used for Kotak Mahindra Bank Limited online transactions, while MICR is used for Kotak Mahindra Bank Limited offline transactions, like Cheque.
These two aspects are of great importance for Kotak Mahindra Bank Limited financial transaction in both Kotak Mahindra Bank Limited online transactions and Kotak Mahindra Bank Limited offline transactions, and you can choose the one that works well for you.
Uses of Bakrol Bujrang IFSC Code:
NEFT - National Electronic Fund Transfer. Enables you to electronically transfer funds from your bank account to any other account of the same bank or different bank.
RTGS - Real Time Gross Settlement. Transfer a minimum limit of Rs. 2 lakh.
IMPS - Immediate payment service. Bank account holder can transfer funds 24 x 7 365 days
Online Fund Transfer via NEFT, RTGS and IMPS.