Use this page as a one-stop reference for everything related to Maharashtra State Cooperative Bank's PAREL branch in MUMBAI, MAHARASHTRA. The branch's IFSC code MSCI0082005 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 State Cooperative Bank's PAREL branch, the IFSC MSCI0082005 breaks down as follows: MSCI identifies the bank, 0 is the reserved character, and 082005 identifies this particular branch.
About the bank
Maharashtra State Cooperative Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Parel branch in Mumbai, Maharashtra is part of this network and uses the IFSC code MSCI0082005 for all electronic settlement.
Branch details at a glance
| Bank Name | Maharashtra State Cooperative Bank |
|---|---|
| Branch | Parel |
| IFSC Code | MSCI0082005 |
| MICR Code | Refer to cheque leaf |
| Branch Address | 268-272 CONTRACTOR BLDG AMBEDKAR RD PAREL 400012 |
| City | Mumbai |
| District | Mumbai |
| State | Maharashtra |
| STD Code | 20 |
| Phone | 24708687 |
About this branch
The branch is located at 268-272 CONTRACTOR BLDG AMBEDKAR RD PAREL 400012. It serves the Mumbai region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Maharashtra State Cooperative Bank. The IFSC MSCI0082005 is used to identify this branch on the RBI payments network.
Why every Maharashtra State Cooperative 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 PAREL of Maharashtra State Cooperative Bank — its own 11-character IFSC. The code MSCI0082005 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 MSCI0082005 the same way you would treat your account number — verify it once and save it carefully for future use.
Account types you can open at the Parel branch
Once you have an account at Maharashtra State Cooperative Bank – PAREL, the IFSC MSCI0082005 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.
Banking services available
The Parel branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 20-24708687.
- 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 MSCI0082005
How to transfer money using IFSC MSCI0082005
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 MSCI0082005 across all three.
NEFT to Maharashtra State Cooperative Bank, PAREL using IFSC MSCI0082005
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 MSCI0082005, and confirm that the system picks up Maharashtra State Cooperative Bank – PAREL. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
Real-Time Gross Settlement to PAREL
If you need to transfer ₹2 lakh or more in one go to an account at Maharashtra State Cooperative Bank's PAREL branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC MSCI0082005 while initiating the transfer and the credit will appear within minutes.
Send money instantly through IMPS
For a real-time, anytime transfer to Maharashtra State Cooperative Bank – PAREL, use IMPS. With IFSC MSCI0082005 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 Parel
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 MSCI0082005:
- 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 PAREL is still linked to IFSC MSCI0082005.
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.
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 State Cooperative Bank's PAREL branch, the IFSC MSCI0082005 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.
Digital banking channels
Most day-to-day work that customers used to do at the Parel 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 MSCI0082005 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.
MICR code & cheque clearing
Apart from IFSC, every cheque book issued by Maharashtra State Cooperative Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC MSCI0082005 and the account number together uniquely identify the Parel branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.
Common mistakes to avoid when using IFSC MSCI0082005
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 Maharashtra State Cooperative Bank – PAREL, 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:
MSCI0082005. - 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.
Reaching the branch
The Parel branch sits at 268-272 CONTRACTOR BLDG AMBEDKAR RD PAREL 400012. If you are travelling from outside Mumbai, search for the branch on a maps application using the bank name and locality, or call 20-24708687 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 MSCI0082005 and your account number.
Verifying IFSC MSCI0082005 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 MSCI0082005 by:
- Looking at the cheque leaf – IFSC is printed near the MICR band.
- Opening the passbook's first page.
- Calling the branch directly on 20-24708687.
- Visiting the bank's official branch locator page.
Branch banking hours and holidays
Indian bank branches typically operate from 10:00 AM to 4:00 PM, Monday to Friday, and from 10:00 AM to 2:00 PM on working Saturdays (usually the 1st, 3rd and 5th Saturdays). The Parel branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC MSCI0082005, however, work 24x7.
Branch address & contact
Maharashtra State Cooperative BankParel Branch
268-272 CONTRACTOR BLDG AMBEDKAR RD PAREL 400012
Mumbai, Maharashtra
Phone: 20-24708687
IFSC: MSCI0082005
Frequently asked questions
Can I use IFSC MSCI0082005 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC MSCI0082005 to send funds instantly.
Does Maharashtra State Cooperative Bank Parel branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 20-24708687 to confirm.
Is IFSC MSCI0082005 the same for all accounts at Parel branch?
Yes. The IFSC MSCI0082005 is shared by every account held at Maharashtra State Cooperative Bank's Parel branch. Only the account number changes from customer to customer.
What is the phone number of Maharashtra State Cooperative Bank Parel branch?
You can reach the branch at 20-24708687 during regular banking hours.
Where is Maharashtra State Cooperative Bank Parel branch located?
Maharashtra State Cooperative Bank's Parel branch is located at 268-272 CONTRACTOR BLDG AMBEDKAR RD PAREL 400012, Mumbai, Maharashtra.
What is the IFSC code of Maharashtra State Cooperative Bank Parel branch?
The IFSC code of Maharashtra State Cooperative Bank, Parel branch is MSCI0082005. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
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 Parel branch but serve different purposes.
How quickly will an NEFT transfer using MSCI0082005 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Maharashtra State Cooperative Bank – Parel reflect within 30 minutes.
Summary
The IFSC code MSCI0082005 belongs to Maharashtra State Cooperative Bank's PAREL branch, located at 268-272 CONTRACTOR BLDG AMBEDKAR RD PAREL 400012 in MUMBAI, 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.
