Below are the complete branch details for Bank of Maharashtra, PUNAWALE branch, located in PUNE, MAHARASHTRA. The IFSC assigned by the Reserve Bank of India to this branch is MAHB0002824. Whether you want to transfer money, add a beneficiary, verify a cheque or simply confirm the branch address, you will find authentic, up-to-date information on this page that has been cross-checked against the bank's branch directory and the RBI's master list of participants in the National Electronic Funds Transfer system.
The IFSC code is one of the most frequently asked-for pieces of information when somebody wants to send you money or set up a recurring credit such as a salary, EMI auto-debit or supplier payment. Knowing exactly which IFSC belongs to your branch — in this case MAHB0002824 for Bank of Maharashtra – PUNAWALE — saves you from rejected transfers, returned credits and the back-and-forth that follows them.
IFSC stands for Indian Financial System Code. It is an 11-character code that pinpoints a particular bank branch on the RBI's real-time payment rails. Every NEFT, RTGS or IMPS instruction must carry the destination branch's IFSC for the credit to land in the correct account.
In our case, MAHB0002824 is the IFSC of Bank of Maharashtra's PUNAWALE branch. The format is fixed: MAHB = bank code, 0 = reserved, 002824 = branch identifier.
Branch details at a glance
| Bank Name | Bank of Maharashtra |
|---|---|
| Branch | Punawale |
| IFSC Code | MAHB0002824 |
| MICR Code | Refer to cheque leaf |
| Branch Address | SHOP NO. 6, 7, AND 8, AARCON PUNWALE, TAL. - MULSHI, DIST. - PUNE, MAHARASHTRA - 411033 |
| City | Pune |
| District | Pune |
| State | Maharashtra |
| STD Code | 91 |
| Phone | 7066992824 |
Bank profile
Bank of Maharashtra is among the recognised banks listed on the Reserve Bank of India's payments network. The Punawale branch — IFSC MAHB0002824 — extends the bank's services to customers in and around Pune, Maharashtra.
About this branch
The branch is located at SHOP NO. 6, 7, AND 8, AARCON PUNWALE, TAL. - MULSHI, DIST. - PUNE, MAHARASHTRA - 411033. It serves the Pune region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Bank of Maharashtra. The IFSC MAHB0002824 is used to identify this branch on the RBI payments network.
The role of IFSC in India's payments network
India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Bank of Maharashtra's PUNAWALE branch came to be assigned the code MAHB0002824.
Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC MAHB0002824, money simply cannot be routed to the PUNAWALE branch electronically.
How to transfer money using IFSC MAHB0002824
Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC MAHB0002824 across all three.
NEFT to Bank of Maharashtra, PUNAWALE using IFSC MAHB0002824
National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.
To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC MAHB0002824, and confirm that the system picks up Bank of Maharashtra – PUNAWALE. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
Real-Time Gross Settlement to PUNAWALE
If you need to transfer ₹2 lakh or more in one go to an account at Bank of Maharashtra's PUNAWALE branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC MAHB0002824 while initiating the transfer and the credit will appear within minutes.
IMPS to Bank of Maharashtra PUNAWALE (IFSC MAHB0002824)
IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC MAHB0002824 in your mobile or internet banking app, and the money is credited to the PUNAWALE branch account within seconds.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC MAHB0002824 for Bank of Maharashtra – PUNAWALE, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.
| Parameter | NEFT | RTGS | IMPS |
|---|---|---|---|
| Minimum amount | ₹1 | ₹2,00,000 | ₹1 |
| Maximum amount | No RBI cap | No RBI cap | ₹5,00,000 |
| Settlement | Half-hourly batches | Real-time | Real-time |
| Availability | 24x7 | 24x7 | 24x7 |
| Best for | Routine transfers | High-value transfers | Urgent small / mid transfers |
| IFSC required | Yes – MAHB0002824 | Yes – MAHB0002824 | Yes – MAHB0002824 |
For most retail customers crediting the Punawale branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.
UPI payments and IFSC MAHB0002824
UPI (Unified Payments Interface) has become the default way for individuals to send money in India. While most UPI transactions are addressed using a Virtual Payment Address (VPA) like name@bank, the underlying account at Bank of Maharashtra – PUNAWALE is still mapped to IFSC MAHB0002824. When a customer links a savings or current account to a UPI app for the first time, the app silently looks up this IFSC against the account number to verify the account exists. The VPA acts as a friendly alias on top of the same plumbing.
If a UPI transfer to or from this branch fails, the most common reasons are an inactive UPI handle, a daily limit breach or a temporary outage at one of the participating banks — not the IFSC. You can always fall back to NEFT or IMPS using the IFSC MAHB0002824 and the beneficiary's account number to complete the transfer.
Account types you can open at the Punawale branch
Once you have an account at Bank of Maharashtra – PUNAWALE, the IFSC MAHB0002824 stays the same regardless of the type of account you hold. The branch typically supports the following options:
- Savings account — for individuals, with chequebook, ATM card and net-banking access.
- Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
- Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
- NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
- Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
- Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
- Minor and student accounts — operated jointly with a guardian until the customer turns 18.
Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.
Products and services
Customers walking into the Punawale branch can access most of Bank of Maharashtra's standard product suite, including:
- Account opening – savings, current, NRI, salary
- Term deposits and recurring deposits
- Retail and small-business loans
- Insurance and mutual-fund tie-ups
- Locker, safe deposit and ATM card services
- Online and mobile banking activation
- Electronic transfers via IFSC MAHB0002824
MICR code & cheque clearing
Apart from IFSC, every cheque book issued by Bank of Maharashtra carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC MAHB0002824 and the account number together uniquely identify the Punawale branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.
Online banking and IFSC MAHB0002824
Bank of Maharashtra customers can register for net banking and the bank's official mobile app once their account at the PUNAWALE branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC MAHB0002824 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.
Common mistakes to avoid when using IFSC MAHB0002824
An incorrect IFSC almost always results in a failed transfer or, worse, a credit to the wrong branch. Before you click Confirm on a transfer to Bank of Maharashtra – PUNAWALE, double-check for these issues:
- Confusing 0 with O. The fifth character of every IFSC is the digit
0, not the letter O. Read carefully. - Spaces or hyphens. Do not put spaces in the IFSC. It is exactly 11 characters:
MAHB0002824. - Wrong branch. A bank can have dozens of branches in the same city. Make sure you are using the IFSC for the actual branch where the beneficiary holds the account, not just any nearby branch.
- Old IFSC after a merger. If two banks have merged, the IFSC may have been reissued. Always verify with a recent passbook or cheque leaf.
- Copy-paste from chat. Auto-correct on phones can silently change letters in IFSC codes. Type carefully or copy from a trusted source like the cheque book.
How to reach the Punawale branch
The branch is located at SHOP NO. 6, 7, AND 8, AARCON PUNWALE, TAL. - MULSHI, DIST. - PUNE, MAHARASHTRA - 411033, which puts it inside Pune, the broader Pune district, and the state of Maharashtra. To plan your visit:
- Open Google Maps on your phone and search for “Bank of Maharashtra Punawale branch” — the verified location pin for IFSC MAHB0002824 should appear at the top of the results.
- Confirm the branch is open by calling 91-7066992824 before stepping out, especially around public holidays.
- Carry photo ID and any account-related documents you may need for the transaction you plan to do.
Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC MAHB0002824 and your account number.
Verifying IFSC MAHB0002824 from official sources
The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm MAHB0002824 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 91-7066992824.
- Visiting the bank's official branch locator page.
Working hours
Branch counters at Punawale are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to MAHB0002824 continue to work without interruption.
Branch address & contact
Bank of MaharashtraPunawale Branch
SHOP NO. 6, 7, AND 8, AARCON PUNWALE, TAL. - MULSHI, DIST. - PUNE, MAHARASHTRA - 411033
Pune, Maharashtra
Phone: 91-7066992824
IFSC: MAHB0002824
Frequently asked questions
Is IFSC MAHB0002824 valid for NEFT and RTGS?
Yes. IFSC MAHB0002824 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
What is the difference between IFSC and MICR code?
IFSC is an 11-character alphanumeric code used for online transfers, while MICR is a 9-digit numeric code printed on cheques and used by cheque-clearing machines. Both identify the Punawale branch but serve different purposes.
How quickly will an NEFT transfer using MAHB0002824 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Bank of Maharashtra – Punawale reflect within 30 minutes.
Is IFSC MAHB0002824 the same for all accounts at Punawale branch?
Yes. The IFSC MAHB0002824 is shared by every account held at Bank of Maharashtra's Punawale branch. Only the account number changes from customer to customer.
What is the IFSC code of Bank of Maharashtra Punawale branch?
The IFSC code of Bank of Maharashtra, Punawale branch is MAHB0002824. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
How do I add Bank of Maharashtra Punawale as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC MAHB0002824, and complete OTP verification. Once activated, you can transfer funds at any time.
Summary
The IFSC code MAHB0002824 belongs to Bank of Maharashtra's PUNAWALE branch, located at SHOP NO. 6, 7, AND 8, AARCON PUNWALE, TAL. - MULSHI, DIST. - PUNE, MAHARASHTRA… in PUNE, MAHARASHTRA. Use this code along with the beneficiary's account number for any NEFT, RTGS or IMPS transfer to this branch. Bookmark this page for quick reference whenever you need the branch's banking details.
