This page lists the IFSC code, branch address, contact number and fund-transfer information for Maharashtra Gramin Bank, BASMAT branch in BASMAT. The 11-digit IFSC MAHG0004217 uniquely identifies this branch in the RBI's centralised payments network and is required for every NEFT, RTGS or IMPS transaction routed to this branch. If you are paying somebody who banks with Maharashtra Gramin Bank at the BASMAT location, this is the only IFSC you need.
We have organised this page into clearly labelled sections so you can jump straight to the part that interests you — the IFSC and MICR details, the full postal address, the contact phone number, a quick primer on NEFT, RTGS and IMPS, the typical product line-up at the branch, and a frequently asked questions section that addresses the queries people raise most often about this branch.
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, MAHG0004217 is the IFSC of Maharashtra Gramin Bank's BASMAT branch. The format is fixed: MAHG = bank code, 0 = reserved, 004217 = branch identifier.
Branch details at a glance
| Bank Name | Maharashtra Gramin Bank |
|---|---|
| Branch | Basmat |
| IFSC Code | MAHG0004217 |
| MICR Code | Refer to cheque leaf |
| Branch Address | AT BASMAT TQ BASMAT DIST HINGOLI |
| City | Basmat |
| District | Hingoli |
| State | Maharashtra |
| STD Code | 2454 |
| Phone | 220817 |
Bank profile
Maharashtra Gramin Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Basmat branch — IFSC MAHG0004217 — extends the bank's services to customers in and around Basmat, Maharashtra.
About the Basmat branch
The Basmat branch of Maharashtra Gramin Bank is situated at AT BASMAT TQ BASMAT DIST HINGOLI. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code MAHG0004217 is used.
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 Maharashtra Gramin Bank's BASMAT branch came to be assigned the code MAHG0004217.
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 MAHG0004217, money simply cannot be routed to the BASMAT branch electronically.
How to transfer money using IFSC MAHG0004217
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 MAHG0004217 across all three.
NEFT to Maharashtra Gramin Bank, BASMAT using IFSC MAHG0004217
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 MAHG0004217, and confirm that the system picks up Maharashtra Gramin Bank – BASMAT. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
RTGS transfers via IFSC MAHG0004217
RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to Maharashtra Gramin Bank – BASMAT, ensure your bank's portal accepts IFSC MAHG0004217 while registering the beneficiary. RTGS is also available 24x7.
Send money instantly through IMPS
For a real-time, anytime transfer to Maharashtra Gramin Bank – BASMAT, use IMPS. With IFSC MAHG0004217 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.
Comparing NEFT, RTGS and IMPS for transfers to Basmat
The right transfer rail depends on how urgent the payment is, how large it is, and whether the receiving bank participates in the chosen scheme. Every option below works with the IFSC MAHG0004217:
- NEFT — best for everyday transfers of any amount; settles in half-hourly batches around the clock.
- RTGS — best for transfers of ₹2 lakh and above; settles each transaction individually in real time.
- IMPS — best when speed matters more than batch scheduling; instant credit up to ₹5 lakh.
- UPI — best for small peer-to-peer payments using a VPA; the underlying account at BASMAT is still linked to IFSC MAHG0004217.
For salary credits, vendor payouts and refunds, employers and merchants usually default to NEFT because of its zero per-transaction cost for retail customers and its 24x7 availability.
UPI payments and IFSC MAHG0004217
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 Maharashtra Gramin Bank – BASMAT is still mapped to IFSC MAHG0004217. 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 MAHG0004217 and the beneficiary's account number to complete the transfer.
Products and account variants supported
Every account opened at the Basmat branch is mapped to IFSC MAHG0004217 on the RBI payments network. The branch generally supports the full retail product catalogue of Maharashtra Gramin Bank, including:
- Resident savings accounts and salary accounts
- Current accounts for businesses and professionals
- Fixed deposits, recurring deposits and tax-saver deposits
- Demand drafts, banker's cheques and pay orders
- Retail loans — personal, vehicle, education, gold and home
- Credit cards and overdraft facilities (subject to eligibility)
- Third-party investment products such as mutual funds and insurance (through tie-ups)
Whichever product you choose, the IFSC for incoming credits remains MAHG0004217.
Banking services available
The Basmat branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 2454-220817.
- Savings, current and salary accounts
- Fixed deposits and recurring deposits
- Personal, vehicle and home loans
- Demat and investment products (where supported)
- Internet banking and mobile banking enrolment
- Debit and credit card issuance
- Locker facilities (subject to availability)
- Foreign exchange services (at authorised branches)
- Bill payments, demand drafts and pay orders
- NEFT / RTGS / IMPS / UPI fund transfers using IFSC MAHG0004217
MICR code & cheque clearing
Apart from IFSC, every cheque book issued by Maharashtra Gramin Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC MAHG0004217 and the account number together uniquely identify the Basmat branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.
Digital banking channels
Most day-to-day work that customers used to do at the Basmat branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC MAHG0004217 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.
Things to verify before sending money
Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to Maharashtra Gramin Bank – BASMAT:
- The IFSC is exactly MAHG0004217 with no extra spaces.
- The beneficiary's account number matches what they shared, digit for digit.
- The portal auto-fills Maharashtra Gramin Bank as the bank name and BASMAT as the branch.
- The amount and the purpose of payment are correct.
- You have a valid OTP-verifying mobile number on hand.
A 30-second review here saves hours of reconciliation later.
How to reach the Basmat branch
The branch is located at AT BASMAT TQ BASMAT DIST HINGOLI, which puts it inside Basmat, the broader Hingoli district, and the state of Maharashtra. To plan your visit:
- Open Google Maps on your phone and search for “Maharashtra Gramin Bank Basmat branch” — the verified location pin for IFSC MAHG0004217 should appear at the top of the results.
- Confirm the branch is open by calling 2454-220817 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 MAHG0004217 and your account number.
Verifying IFSC MAHG0004217 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 MAHG0004217 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 2454-220817.
- Visiting the bank's official branch locator page.
Working hours
Branch counters at Basmat 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 MAHG0004217 continue to work without interruption.
Branch address & contact
Maharashtra Gramin BankBasmat Branch
AT BASMAT TQ BASMAT DIST HINGOLI
Basmat, Maharashtra
Phone: 2454-220817
IFSC: MAHG0004217
Frequently asked questions
What is the IFSC code of Maharashtra Gramin Bank Basmat branch?
The IFSC code of Maharashtra Gramin Bank, Basmat branch is MAHG0004217. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
Can I use IFSC MAHG0004217 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC MAHG0004217 to send funds instantly.
Is IFSC MAHG0004217 the same for all accounts at Basmat branch?
Yes. The IFSC MAHG0004217 is shared by every account held at Maharashtra Gramin Bank's Basmat branch. Only the account number changes from customer to customer.
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 Basmat branch but serve different purposes.
How quickly will an NEFT transfer using MAHG0004217 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Maharashtra Gramin Bank – Basmat reflect within 30 minutes.
Where is Maharashtra Gramin Bank Basmat branch located?
Maharashtra Gramin Bank's Basmat branch is located at AT BASMAT TQ BASMAT DIST HINGOLI, Basmat, Maharashtra.
What is the phone number of Maharashtra Gramin Bank Basmat branch?
You can reach the branch at 2454-220817 during regular banking hours.
Is IFSC MAHG0004217 valid for NEFT and RTGS?
Yes. IFSC MAHG0004217 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Summary
The IFSC code MAHG0004217 belongs to Maharashtra Gramin Bank's BASMAT branch, located at AT BASMAT TQ BASMAT DIST HINGOLI in BASMAT, 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.
