Feeling Stuck in low salary and company

I had impression ibm gives good hikes. Is it ibm consulting or labs?

You have 12 YoE. In this experience, interviewers would be expecting tech lead / architect candidates. My advice would prepare yourself with your tech stack, system design etc. Once you're confident, resign. Then try for interview saying you're in NP. Basically you should be able to crack service based companies like tcs, wipro, hcl, infosys. Once you get offer, either IBM would keep you matching your salary. Or else, you can switch.

What is your salary now? And which band?

Are you in bech or on project? If you are on project, then also don’t worry, whenever you receive a HR call just say to them that you are on notice period and tell any date of 1.5 months later and try to schedule the interview and take offer letter then negotiate that offer with your manager, and if you are critical resource or if you have dependency then most probably they will give you hike near to that offer else they will accept your resignation and then you have good time to search for job and if you are on notice period then obviously you will get more interview calls.

Switch the job tell the hr 1 month notice period. If people manager wish, he can release you early if there is no work