About Indian Bank
Set up in 1907, Indian bank is a public-sector holding with its headquarters in Chennai and its branches across Singapore and Colombo. In 1969, the Government of India took ownership of this state-owned bank. Indian Bank has two subsidiaries, namely – Indian Bank Housing Ltd. and Indian Bank Merchant Banking Services Ltd.
Using IFSC for NEFT Transfer
NEFT is commonly used to electronically transfer money from one bank account to another. It saves you the hassle of going to the bank and submitting a cheque. You simply need to enter the IFSC code of the bank branch of the beneficiary (any branch within India) and enter the amount of sum you want to transfer. However, the money is transferred to the beneficiary’s account in batches and not instantly.
Using Indian Bank IFSC Code for RTGS Transfer
RTGS, or Real Time Gross Settlement, offers instant settlement of the transferred funds into the beneficiary’s account (in any Indian bank). As soon as the funds are transferred, the recipient bank receives a notification. The funds have to be credited to the beneficiary’s account within half an hour. To initiate the transaction, you need to provide the IFSC of the bank.
Using IFSC for IMPS Transfer
Interbank Mobile Payment Services, or IMPS, is a transaction which is done electronically between two banks while using the mobile number of the recipient. The fund is transferred immediately and the transaction can performed anytime and anywhere, even on holidays.
Indian Bank launches IndPay mobile app
In a move to empower its customers, Indian Bank has recently launched IndPay mobile app. The app can be used anytime and anywhere on Android, iOS and Windows operating system. It will allow customers to operate their Indian bank account on the go, in a hassle-free manner. They can get their queries resolved, receive mini-statements, and transfer money using the IndPay mobile app. The customers will be able to easily transfer a maximum amount of Rs. 50,000 in a day. The Indian Bank is likely to introduce many more digital initiatives in the near future. All the existing Indian Bank customers will be able to access the application, whereas the new customers will need to make a request to their specific bank branch before they can use the app. To download the Indpay App, send “IndMobile” from your phone to the mobile banking service number of Indian Bank, and you will receive the link to the app in a message. However, if you want to know the code without creating an account, you can do so via the internet
Why Insuremile
The most important differentiator is InsureMile’s ‘Buy A Policy, Feed A Child’ mission For every policy you buy, InsureMile on your behalf contributes 10 meals to a child. You are thus becoming part of a Social Movement to eradicate hunger among children in India. There is no additional amount to be paid for the social cause. It is part of the premium. You can claim tax benefits for the donation you have made.