Aditya Birla Idea Payments Bank

RBI has allotted the Indian Financial System Code in short denoted as IFSC codes to all the bank branches in India. IFSC codes are unique 11-digit codes with alphanumeric characters. These codes help the users to ensure that the transferred funds goes to the right person account, without any errors.

For example, we can take the IFSC code: “ABPB0000001” - of Aditya Birla Payments Bank, Mumbai, Maharashtra.

• Here, the first four alphabets, ABPB, indicate the bank name, i.e., Aditya Birla Payments Bank.
• The fifth digit is 0 (zero) - provided for future use.
• The last six digits 000001 - denotes a particular branch at Mumbai, Maharashtra.

This IFSC code can be used for online money transactions via NEFT, RTGS and IMPS to any Aditya Birla Payments Bank account or to other bank accounts. According to RBI guidelines, the IFSC code is mandatory for interbank transfers via NEFT and RTGS to any bank in India. This code helps to avoid the risk factor while sending and receiving funds through banks in our country.

Easy way to find Aditya Birla Payments Bank Limited IFSC Code and MICR Code?

The customer can find MICR codes and IFSC codes which are printed on passbook and cheque books/ leaves issued by Aditya Birla Payments Bank. The website of Reserve Bank of India also offers the entire list of IFSC codes required for the account holder. The customers can also enter into the bank’s official website. Customers by clicking the link will lead to another page where four columns are displayed. Customers must feed some bank details like the state in which it is located, the district in which it is located and branch name to get IFSC code or MICR code.

Aditya Birla Idea Payments Bank Branch Details

• Tamil Nadu

About Aditya Birla Payments Bank

Aditya Birla Payments Bank founded in 2016. Its parent organization Aditya Birla Nuvo (now Grasim Industries Limited) got an approval and licenses from Reserve Bank of India to start Aditya Birla Payments Bank Limited (ABPB) along with other 11 firms under Section 22 (1) of the Banking Regulation Act, 1949. It is the fourth payments bank to begin operations on 22 February 2018, as a joint venture by Aditya Birla Nuvo Limited and Idea Cellular.

Aditya Birla Payments Bank earlier operated as IMCSL (Idea Mobile Commerce Services Ltd) as a brand of Idea Cellular Limited. Aditya Birla Nuvo Limited holds 51% of shares while the remaining 49% of shares are held by Idea Cellular.

Compared to other commercial banks, Payments Banks are different, they come under a special category of banks. It can accept deposits of up to Rs. one lakh but cannot give loans or credit cards to its account holders. The company offered services to individuals and small businesses in India.

This payments bank had two branches. The first one is its registered head office at Mumbai (IFSC Code is ABPB0000001) and the second branch in Chennai (IFSC Code is ABPB0000002).

As per source, Aditya Birla Payments Bank decided to shut down its operations on 20 July 2019 within two years of its inception due to lack of funds and subject to the receipt of requisite regulatory consents and approval. The account of its customers has been closed effective on 31 October 2019.

For settlement of funds, the bank requested the account holders to send a claim request form along with a canceled cheque of their Bank Account held in the same name as in the Aditya Birla Payments Bank. Along with the claim form, the canceled cheque needs to be couriered to the below address:

Address :
Aditya Birla Idea Payments Bank Limited,
3rd Floor, Crompton Greaves House,
Dr. Annie Besant Road, Century Bazaar,
Worli, Mumbai – 400 030.
For further details contact: 022- 66525147.
Email Id: pbclaims@adityabirla.com