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Maharashtra State Co Operative Bank IFSC and MICR Code:

State wise list of Maharashtra State Co Operative Bank IFSC code, MICR code and addresses of all branches in India

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Maharashtra State Co-operative Bank (MSC Bank) IFSC Code:

Electronic transfer of funds has made payments quicker, safer and faster. There is also considerably less paperwork because of its introduction. Maharashtra State Co-Operative Bank (MSC Bank) customers have the option of transferring funds electronically via NEFT or RTGS services. NEFT and RTGS have been introduced by RBI to almost all Indian banks. These services use IFSC codes to identify the source and destination bank so as to regulate the transfer of funds. A unique IFSC code is assigned to each branch of bank in India. Thanks to IFSC, transfers have become more accurate and efficient. Further, the chances of fraud are also diminished.

The IFSC (Indian Financial System code) is made of 11 characters, in three parts: The first 4 characters are representative of the name of the bank. The IFSC code for Maharashtra State Co-Operative Bank (MSC Bank) for example begins with the letters MSCI. The four letters are followed by 0 which is reserved for future use. The last 6 characters are digits which represent the specific branch. For example MSCI0082062, which is the IFSC code of Maharashtra State Co-Operative Bank branch at Akola, Maharashtra.

How to Search For Maharashtra State Co-Operative Bank (MSC Bank) IFSC and MICR Codes?

One can find the IFSC and MICR code for Maharashtra State Co-Operative Bank in multiple ways. First of all, it will be printed on the cheque leaves of cheque books which are issued by the particular branch of Maharashtra State Co-Operative Bank (MSC Bank). It is available on to the official website of Maharashtra State Co-Operative Bank. The government gives the complete list of IFSC codes of all the banks in the NEFT/RTGS network online. Additionally, you could visit a third party financial websites like BankBazaar and find the codes there.

Finding the IFSC and MICR codes for branches of Maharashtra State Co-Operative Bank is simple if you visit BankBazaar. Simply go to the homepage, find the ‘Bank IFSC Code’ tab at the bottom and click on it. A second page will open where there will be four drops down menus for you to choose the bank, state, district and branch. In the ‘Select Bank’ drop down menu, click on ‘Maharashtra State Co-Operative Bank’. Choose the suitable options from the other drop down menus as well. As soon as you make your selection, BankBazaar will generate the IFSC and MICR codes for the branch that you want. Other information of the branch such as its phone number, address, branch code etc. will also be displayed with the codes.

Customers of Maharashtra State Co-Operative Bank can use either NEFT or RTGS services to transfer any amount of money from their account to that of a beneficiary’s in any bank which participates in RBI National Electronic Funds Transfer (RBI - NEFT). The use of IFSC makes sure that the service is accurate and safe.

NEFT for MSC Bank:

NEFT (National Electronic Funds Transfer) is an online electronic payment service which works on Deferred Net Settlements. This means that settlements are done in batches. As long as the request for payment is received before the last batch for the day, the fund will be transferred on the same day. If not, the fund will be transferred on the following working day.

You will need the following information to use NEFT service at Maharashtra State Co-operative Bank:

  • The name of the receiver
  • The name of the receiver’s bank and branch
  • The receiver’s account number
  • The IFSC code of the receiver’s bank branch
  • The amount to be transferred

The charges for NEFT transactions are:

Amount

Charge (per transaction)

Up to Rs 10,000

Rs. 2/- per Transaction

Rs 10,001 – Rs 1 lakh

Rs.5/- per Transaction

Rs 1,00,001 – Rs 2 lakh

Rs.15/- per Transaction

Above Rs 2 lakh

Rs.25/- per Transaction

Inward transactions will not be charged.

RTGS for MSC Bank:

RTGS (Real Time Gross Settlement) is another method of fund transfer that is even faster than NEFT because the transactions are done on an individual basis. This type of transaction is done for a minimum amount of Rs. 2 lakh. RTGS can be done between 9.00 and 17.30. As long as the request is received before the cut-off time or on holidays, it will be processed on the same day. The amount will be debited from your account only when the request is processed, subject to availability of clear funds.

You will need the following information to use RTGS service at Maharashtra State Co-operative Bank:

  • The receiver’s name
  • The receiver’s bank and branch name
  • IFSC Code of the receiver’s bank
  • The transfer amount
  • The receiver’s account number
  • A remark for the receiver, if any

The charges for RTGS transactions are:

Amount

Charge (per transaction)

Between Rs 2 lac to 5 lac

Rs. 25/- +applicable time varying tariff subject to maximum Rs.30/-

Above Rs. 5 lac

Rs. 50/- + applicable time varying tariff subject to maximum Rs.55/-

Headquartered in Mumbai, Maharashtra State Co-Operative Bank began functioning in 1911, when it was registered as The Bombay Central Co- operative Bank Limited. Currently there are 43 branches of the bank as well as 4 Regional Offices. Since its inception, the bank has had a social commitment. An elected Board of Directors manage the bank.


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