SWIFT codes in India
IN · INR
401 banks in India, from KOTAK MAHINDRA BANK LIMITED (KKBKINB2) onward; every code carries IN as its country part.
Banks
401
SWIFT codes
3
Branches
10
Currency
INR
Banks and SWIFT codes in India
IINDIAN BANK
| SWIFT/BIC | City |
|---|---|
IDIBINBBBWR | BHUBANESWAR |
IDIBINBBCBE | COIMBATORE |
IDIBINBBCCK | NEW DELHI |
IDIBINBBBFT | MUMBAI |
IDIBINBBBLR | VELLORE |
KKOTAK MAHINDRA BANK LIMITED
| SWIFT/BIC | City |
|---|---|
KKBKINB2XXX | GANDHINAGAR |
KKBKINBBNRI | MUMBAI |
KKBKINBBCUS | MUMBAI |
KKBKINBBCPC | MUMBAI |
KKBKINBBGFT | GANDHINAGAR |
India SWIFT code questions
What does a India SWIFT code look like?
KKBKINB2XXX (KOTAK MAHINDRA BANK LIMITED): bank KKBK, country IN, location B2, branch XXX.
What are the SWIFT codes for major Indian banks?
Key Indian bank SWIFT codes include: State Bank of India (SBI) — SBININBB, HDFC Bank — HDFCINBB, ICICI Bank — ICICINBB, Axis Bank — AXISINBB, Punjab National Bank — PUNBINBB, Bank of Baroda — BARBINBB.
Do I need a SWIFT code or an IFSC code for international transfers to India?
For international transfers from outside India, the sender needs the recipient bank's SWIFT/BIC code plus the account number. The IFSC (Indian Financial System Code) is used for domestic transfers via NEFT, RTGS, and IMPS only. IFSC codes are not recognised by the SWIFT network. Some banks may ask for the IFSC as supplementary information to identify the branch internally.
How long does a SWIFT transfer to India take?
SWIFT transfers to India typically arrive within one to three business days. Transfers from the US, UK, and Middle East — major corridors for Indian remittances — usually settle within one to two business days. RBI compliance requirements, including purpose-of-payment declarations, can occasionally add processing time for larger or business-related transfers.
Are there fees for receiving a SWIFT transfer in India?
Indian banks typically charge an inbound remittance handling fee, often INR 100–500 per transaction. Intermediary bank charges along the SWIFT route can also reduce the final INR amount received. The receiving bank converts foreign currency to INR at their telegraphic transfer buying rate, which includes a margin over the mid-market rate. Providers using dedicated INR payout corridors often deliver more cost-effectively.
What is the RBI purpose code requirement for inbound transfers to India?
The Reserve Bank of India (RBI) requires a purpose-of-payment code on every inbound foreign remittance. Common codes include P0801 (family maintenance), S0305 (education fees), and P0107 (property purchase). The receiving bank assigns the code based on the payment reference. Incorrect or missing purpose codes can delay the credit — ensure the sender includes a clear description of the transfer's purpose.
How SWIFT works in India
India uses IFSC (Indian Financial System Code) for domestic bank transfers through NEFT, RTGS, and IMPS, but these codes do not work for international payments. Inbound international transfers require the recipient bank's SWIFT/BIC code, and all such transactions are subject to Reserve Bank of India (RBI) compliance requirements including purpose-of-payment declarations.
- Each Indian bank branch has both an IFSC code (for domestic transfers) and may be covered by a SWIFT code (for international transfers). The SWIFT code often points to the bank's central processing hub rather than the local branch, so confirm the correct one with the recipient.
- RBI regulations require that the purpose of every inbound foreign remittance is declared. Common purpose codes include family maintenance, education fees, and business payments. Incorrect purpose codes can delay or block the credit to the beneficiary account.
- For large remittances to India, intermediary bank charges can reduce the final INR amount. Sending via providers that use dedicated INR payout corridors rather than multi-hop SWIFT routing often results in faster settlement and lower total cost.
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