IFSC Code of Maharashtra Gramin Bank, Parsodi Branch, Maharashtra

Below are the complete branch details for Maharashtra Gramin Bank, PARSODI branch, located in BHANDARA, MAHARASHTRA. The IFSC assigned by the Reserve Bank of India to this branch is MAHG0006520. 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 MAHG0006520 for Maharashtra Gramin Bank – PARSODI — 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, MAHG0006520 is the IFSC of Maharashtra Gramin Bank's PARSODI branch. The format is fixed: MAHG = bank code, 0 = reserved, 006520 = branch identifier.

About Maharashtra Gramin Bank

Maharashtra Gramin Bank operates a wide network of branches across India, including the Parsodi branch in Bhandara. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, MAHG0006520.

About the Parsodi branch

The Parsodi branch of Maharashtra Gramin Bank is situated at AT PARSODI, PO BHAGADI, TAL LAKHANDUR, DIST BHANDARA - 441803. 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 MAHG0006520 is used.

Branch details at a glance

Why every Maharashtra Gramin Bank branch has a unique IFSC

Before electronic settlement systems went live in India, money transfers between banks relied heavily on demand drafts, mail transfers and telegraphic transfers. These older instruments routinely took days to clear and were prone to misrouting because there was no single machine-readable identifier for a branch. The Reserve Bank of India solved this by issuing each participating branch — including PARSODI of Maharashtra Gramin Bank — its own 11-character IFSC. The code MAHG0006520 is therefore not just an internal reference; it is the digital postcode that lets the RBI's NEFT, RTGS and IMPS rails route funds straight to the right branch ledger without any human intervention.

Today, almost every salary credit, vendor payment, refund and EMI deduction in the country flows through this network, which is exactly why a correct IFSC matters so much. A wrong character can either bounce the transfer or send it to the wrong branch, and reversing such a credit is a manual, time-consuming process. Treat IFSC MAHG0006520 the same way you would treat your account number — verify it once and save it carefully for future use.

MICR & cheque-truncation details

Cheques drawn on the Parsodi branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC MAHG0006520 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

How to transfer money using IFSC MAHG0006520

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 MAHG0006520 across all three.

How to use IFSC MAHG0006520 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Maharashtra Gramin Bank's PARSODI branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC MAHG0006520.
4. Confirm the bank name auto-populates as Maharashtra Gramin Bank and the branch as PARSODI.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC MAHG0006520

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 – PARSODI, ensure your bank's portal accepts IFSC MAHG0006520 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to Maharashtra Gramin Bank – PARSODI, use IMPS. With IFSC MAHG0006520 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC MAHG0006520 for Maharashtra Gramin Bank – PARSODI, 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.

For most retail customers crediting the Parsodi 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.

How UPI relates to the IFSC code

UPI lets you pay using a short Virtual Payment Address instead of typing the IFSC every time, but behind the scenes every UPI mandate is mapped to an account number plus an IFSC. For accounts at Maharashtra Gramin Bank's PARSODI branch, the IFSC MAHG0006520 is what the National Payments Corporation of India (NPCI) uses to route the credit when you tap Pay on a UPI app.

That is why, even in the UPI era, it is still worth knowing the IFSC of your home branch — for failed UPI mandates, e-mandate set-ups, third-party platform onboarding and salary or refund credits.

Account types you can open at the Parsodi branch

Once you have an account at Maharashtra Gramin Bank – PARSODI, the IFSC MAHG0006520 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 Parsodi branch can access most of Maharashtra Gramin Bank'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 MAHG0006520

Online banking and IFSC MAHG0006520

Maharashtra Gramin Bank customers can register for net banking and the bank's official mobile app once their account at the PARSODI 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 MAHG0006520 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.

Reaching the branch

The Parsodi branch sits at AT PARSODI, PO BHAGADI, TAL LAKHANDUR, DIST BHANDARA - 441803. If you are travelling from outside Bhandara, search for the branch on a maps application using the bank name and locality, or call 7184-7410792159 to ask for landmarks. Many customers find it easier to skip the trip altogether: net banking, mobile apps, NEFT, RTGS, IMPS and UPI all work using the IFSC MAHG0006520 and your account number.

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 – PARSODI:

• The IFSC is exactly MAHG0006520 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 PARSODI 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.

Working hours

Branch counters at Parsodi 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 MAHG0006520 continue to work without interruption.

Verifying IFSC MAHG0006520 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 MAHG0006520 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 7184-7410792159.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Summary

The IFSC code MAHG0006520 belongs to Maharashtra Gramin Bank's PARSODI branch, located at AT PARSODI, PO BHAGADI, TAL LAKHANDUR, DIST BHANDARA - 441803 in BHANDARA, 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.