IFSC code plays an important role in the utilization of electronic payment systems like RTGS (Real Time Gross Settlement), NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Services). Bank of Maharashtra currently has 2000+ branches across the country. Each branch is provided with a unique IFSC code by the RBI.
The IFSC code assigned to the bank is designed keeping three important segments in mind. The initial four characters are derived from the bank's name, the fifth letter is a zero, the last six letters are unique for each branch of the bank.
For example - The Bank of Maharashtra branch code has “MAHB0567434” as the IFSC Code for a branch of the Bank of Maharashtra.
MAHB stands for Bank of Maharashtra
567434 is the unique code allotted to that specific branch of the Bank of Maharashtra.
The users can find the Bank of Maharashtra IFSC code via offline or online methods. There is a wide variety of options available to choose from in online and offline mediums.
The offline mediums to find Maharashtra Bank IFSC code are mentioned below -
Passbook - The Passbook issued to the account holder by the bank contains all the details about the account and bank branch, including the IFSC code, MICR code, etc. It is generally printed on the first page of the Passbook itself.
Cheque Book - You can find the Bank of Maharashtra IFSC code along with other details like the account number on the left corner of every leaflet of your cheque book.
Bank Statements - All the bank statements issued by the bank will necessarily contain the IFSC code of the concerned bank branch.
Branch Office - You can contact the home branch via a phone call. The executives will help you and inform you about the required details.
Bank of Maharashtra Customer Care - You can contact the customer care of Bank of Maharashtra on either 1800-233-4526 or 1800-102-2636. Provide the executive with details about the concerned branch, and they will let you know the required information.
The online mediums to find Maharashtra Bank IFSC code are mentioned below -
Search Engine- You can find out the IFSC code of any bank branch using online search websites. You just have to fill in details regarding the concerned branch, and then you will get the required information.
Net Banking - As soon as you log in to your online banking account, your Bank of Maharashtra IFSC code along with other details, will be visible on your screen.
Mobile Banking - Similar to Net Banking, in Mobile Banking also you just have to log yourself in using the credentials, and the required information will be displayed on your screen.
RBI Website - The official portal of RBI has the list of the IFSC codes of all banks and their branches in India. Visit the official portal and tap on ‘More Links’ visible on the home screen. Next, click on IFSC/MICR codes. You will be redirected to a page where you will have to fill in information like bank name and branch name. As soon as you enter the information, the Bank of Maharashtra IFSC code will be displayed on your screen.
The Maharashtra Bank IFSC code for a specific branch will be provided to you instantly.
There are three modes through which you can transfer funds using the Bank of Maharashtra IFSC code:
NEFT - NEFT stands for National Electronic Funds Transfer. If you want to transfer funds using NEFT, it is necessary to enter the Maharashtra Bank IFSC code. If the IFSC code is not entered or the entered code is incorrect, the fund transfer would fail, and the money would not be credited to the concerned individual’s account.
RTGS - RTGS stands for Real-Time Gross Settlement. It is a very easy and time-saving method of fund transfer. If you want to initiate, RTGS you need to fill in all important details like payee’s name, account number, Maharashtra Bank IFSC code, transfer amount, etc.
IMPS - IMPS stands for Immediate Payment Services. It is a fast inter-bank electronic money transfer system used in India. If you want to initiate, IMPS you need to fill in all important details like payee’s name, account number, IFSC code of the concerned bank branch, transfer amount, etc.
The main purpose of IFSC codes is to help in the identification process of the concerned bank in the process of the online fund transfer.
The Bank of Maharashtra IFSC code is necessary for initiating all kinds of electronic fund transfers. The code helps in identifying the concerned bank branch involved in the RTGS or NEFT transfers.
MICR stands for Magnetic Ink Character Recognition which is used in the identification process of the involved bank and the concerned branch in ECS (Electronic Clearing System). It is unique for each bank and branch and is printed on the cheque book. SWIFT stands for Society for Worldwide Interbank Financial Telecommunications issued to the banks which they use during the international fund transfer process. It is also a unique code.
One can find the IFSC code along with other details like the account number on the left corner of every leaflet of the cheque book.