It is very important to find correct branch before initiating any bank process. Though all banks will have a mechanism to verify the Parel Branch, Account Type, IFSC Code, MICR Code, and Account Name, etc. and any mismatch will result in failed transaction!
The best and simplest place to verify Parel branch is the cheque book. All banks will print the Parel on the cheque books. Also, your account pass book should have the Parel branch printed.
The address of Parel branch is Kotak mahindra bank ltd. Shop no. 9, 10, 11 & 12, veer mahal chs, ground floor, dr. Babasaheb ambedkar road, parel, mumbai 400 012, which is located in Mumbai District of Maharashtra State. IFSC code used in online fund transfer and MICR code used in clearing of cheques for Kotak Bank Parel is also provided.
Parel has number of branches spread across India. Branch banking has undergone significant changes in response to the competition in financial services market and the ever increasing consumer demands. This leads to a single consumer bearing more than one account in different banks and due to internet banking, as in case of Kotak Bank Parel branch, fund transfer between these banks is also possible.