For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Bank Of Maharashtra for its Chaibasa branch in West Singhbum, Chaibasa, Jharkhand, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of Bank Of Maharashtra located in West Singhbum or anywhere in Jharkhand can transfer funds instantly by using the correct IFSC Code MAHB0002053. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of Maharashtra, Chaibasa, West Singhbum
Here are some of the key details that come with the IFSC Code MAHB0002053 of Bank Of Maharashtra for its branch located in West Singhbum, within the district of Chaibasa in the state of Jharkhand.
| Particulars | Details |
|---|---|
| Bank | Bank Of Maharashtra |
| IFSC Code | MAHB0002053 |
| Branch | Chaibasa |
| City | West Singhbum |
| District | Chaibasa |
| State | Jharkhand |
| Address | Bsnl Telephone Exchange Office, Chaibasa |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of Maharashtra in West Singhbum for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code MAHB0002053 for the Chaibasa branch of Bank Of Maharashtra has an important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of Maharashtra located in Chaibasa, West Singhbum, Jharkhand, is provided a unique IFSC like MAHB0002053 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of Maharashtra branch in West Singhbum.
- Helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any confusions between multiple branches of the same bank across different places like West Singhbum and Chaibasa.
- It reduces most of the errors in fund transfers and makes sure its accuracy.
- It enables sender banks to validate and confirm branch details before processing payments.
For thousands of branches across Jharkhand and the rest of India, the IFSC Code ensures that transactions meant for Bank Of Maharashtra in Chaibasa do not get misguided to another person.
Format of the IFSC Code MAHB0002053
The format of the IFSC Code for banks, including Bank Of Maharashtra, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Bank Of Maharashtra, these letters represent the bank's short name.
- 5th character: Is always zero and is kept for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Chaibasa in West Singhbum.
For example, the IFSC Code MAHB0002053 of Bank Of Maharashtra for the Chaibasa branch includes these elements, identifying the bank and the branch location in West Singhbum and Jharkhand accurately.
How to Find IFSC Code for Bank Of Maharashtra?
If you are trying to find the IFSC Code MAHB0002053 of Bank Of Maharashtra for its Chaibasa branch located in West Singhbum, the following methods can help:
Cheque Book
The cheque book issued by Bank Of Maharashtra includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.
Passbook
Most banks, including Bank Of Maharashtra branches in West Singhbum and Chaibasa, print the IFSC and MICR codes on the first page of your passbook.
Bank Website
Visit the official website of Bank Of Maharashtra and navigate to the branch locator section. Search for Chaibasa or West Singhbum to get the exact IFSC Code MAHB0002053.
Mobile Banking App
If you use Bank Of Maharashtra's mobile app, you can check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India keeps an updated list of all IFSC codes. If you search for Bank Of Maharashtra and West Singhbum, you'll get the correct details.
How to Use IFSC Code MAHB0002053 for Online Transfers?
Once you have the IFSC Code MAHB0002053 for the Chaibasa branch of Bank Of Maharashtra in West Singhbum, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code MAHB0002053. The transfer is completed in batches instead of instantly. It is useful for both personal and business payments.
RTGS
Used for high-value payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. Requires the recipient's account details and Bank Of Maharashtra IFSC Code MAHB0002053.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Bank Of Maharashtra Chaibasa in West Singhbum, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of Bank Of Maharashtra in Chaibasa, here are some of the ways you can get it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official Bank Of Maharashtra website.
- Search the RBI portal.
Knowing both IFSC and MICR code can help account holders in West Singhbum manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is MAHB0002053.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is Bsnl Telephone Exchange Office, Chaibasa located in West Singhbum, Chaibasa, Jharkhand.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
