IFSC Code of Maharashtra Gramin Bank, Parsoda Branch, Maharashtra

Use this page as a one-stop reference for everything related to Maharashtra Gramin Bank's PARSODA branch in PARSODA, MAHARASHTRA. The branch's IFSC code MAHG0005106 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.

For Maharashtra Gramin Bank's PARSODA branch, the IFSC MAHG0005106 breaks down as follows: MAHG identifies the bank, 0 is the reserved character, and 005106 identifies this particular branch.

About the bank

Maharashtra Gramin Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Parsoda branch in Parsoda, Maharashtra is part of this network and uses the IFSC code MAHG0005106 for all electronic settlement.

About the Parsoda branch

The Parsoda branch of Maharashtra Gramin Bank is situated at AT PARSODA TQ DIST AURANGABAD. 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 MAHG0005106 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 PARSODA of Maharashtra Gramin Bank — its own 11-character IFSC. The code MAHG0005106 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 MAHG0005106 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 Parsoda branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC MAHG0005106 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 MAHG0005106

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 MAHG0005106 across all three.

How to use IFSC MAHG0005106 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Maharashtra Gramin Bank's PARSODA 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 MAHG0005106.
4. Confirm the bank name auto-populates as Maharashtra Gramin Bank and the branch as PARSODA.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

Real-Time Gross Settlement to PARSODA

If you need to transfer ₹2 lakh or more in one go to an account at Maharashtra Gramin Bank's PARSODA branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC MAHG0005106 while initiating the transfer and the credit will appear within minutes.

Send money instantly through IMPS

For a real-time, anytime transfer to Maharashtra Gramin Bank – PARSODA, use IMPS. With IFSC MAHG0005106 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 MAHG0005106 for Maharashtra Gramin Bank – PARSODA, 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 Parsoda 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 MAHG0005106

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 – PARSODA is still mapped to IFSC MAHG0005106. 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 MAHG0005106 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Parsoda branch is mapped to IFSC MAHG0005106 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 MAHG0005106.

Banking services available

The Parsoda branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 2436-283373.

• 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 MAHG0005106

Digital banking channels

Most day-to-day work that customers used to do at the Parsoda 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 MAHG0005106 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.

How to reach the Parsoda branch

The branch is located at AT PARSODA TQ DIST AURANGABAD, which puts it inside Parsoda, the broader Aurangabad district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “Maharashtra Gramin Bank Parsoda branch” — the verified location pin for IFSC MAHG0005106 should appear at the top of the results.
2. Confirm the branch is open by calling 2436-283373 before stepping out, especially around public holidays.
3. 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 MAHG0005106 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 – PARSODA:

• The IFSC is exactly MAHG0005106 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 PARSODA 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 Parsoda 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 MAHG0005106 continue to work without interruption.

Other ways to verify the IFSC code

While this page already lists the verified IFSC MAHG0005106 for Maharashtra Gramin Bank – PARSODA, you can cross-check the code from any of these sources before initiating a high-value transfer:

• The front of the cheque book issued by the branch – the IFSC is printed at the top of every leaf.
• The first page of your passbook.
• The bank's official website under the branch locator.
• The Reserve Bank of India's IFSC search portal.
• Net banking dashboards usually display the home-branch IFSC under account details.

Branch address & contact

Frequently asked questions

Summary

The IFSC code MAHG0005106 belongs to Maharashtra Gramin Bank's PARSODA branch, located at AT PARSODA TQ DIST AURANGABAD in PARSODA, 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.