This page lists the IFSC code, branch address, contact number and fund-transfer information for Model Co-operative Bank Ltd, VIRAR branch in PALGHAR. The 11-digit IFSC MDBK0000031 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 Model Co-operative Bank Ltd at the VIRAR 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.
The Indian Financial System Code, popularly known as IFSC, is an 11-digit alphanumeric code that the RBI assigns to every bank branch participating in online interbank settlement. Without this code, an electronic transfer simply cannot reach its destination branch.
The IFSC for Model Co-operative Bank Ltd – VIRAR is MDBK0000031. The first four letters MDBK are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 000031 map to this branch in PALGHAR, MAHARASHTRA.
Branch details at a glance
| Bank Name | Model Co-operative Bank Ltd |
|---|---|
| Branch | Virar |
| IFSC Code | MDBK0000031 |
| MICR Code | Refer to cheque leaf |
| Branch Address | SHOP NO.1,GANGOTRI CHS,VIRAT NAGAR,VIRAR WEST |
| City | Palghar |
| District | Mumbai |
| State | Maharashtra |
| STD Code | 250 |
| Phone | 2514973 |
About Model Co-operative Bank Ltd
Model Co-operative Bank Ltd operates a wide network of branches across India, including the Virar branch in Palghar. 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, MDBK0000031.
About the Virar branch
The Virar branch of Model Co-operative Bank Ltd is situated at SHOP NO.1,GANGOTRI CHS,VIRAT NAGAR,VIRAR WEST. 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 MDBK0000031 is used.
Why every Model Co-operative Bank Ltd 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 VIRAR of Model Co-operative Bank Ltd — its own 11-character IFSC. The code MDBK0000031 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 MDBK0000031 the same way you would treat your account number — verify it once and save it carefully for future use.
How to transfer money using IFSC MDBK0000031
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 MDBK0000031 across all three.
NEFT to Model Co-operative Bank Ltd, VIRAR using IFSC MDBK0000031
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 MDBK0000031, and confirm that the system picks up Model Co-operative Bank Ltd – VIRAR. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
Real-Time Gross Settlement to VIRAR
If you need to transfer ₹2 lakh or more in one go to an account at Model Co-operative Bank Ltd's VIRAR branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC MDBK0000031 while initiating the transfer and the credit will appear within minutes.
IMPS to Model Co-operative Bank Ltd VIRAR (IFSC MDBK0000031)
IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC MDBK0000031 in your mobile or internet banking app, and the money is credited to the VIRAR branch account within seconds.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC MDBK0000031 for Model Co-operative Bank Ltd – VIRAR, 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 – MDBK0000031 | Yes – MDBK0000031 | Yes – MDBK0000031 |
For most retail customers crediting the Virar 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 MDBK0000031
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 Model Co-operative Bank Ltd – VIRAR is still mapped to IFSC MDBK0000031. 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 MDBK0000031 and the beneficiary's account number to complete the transfer.
Account types you can open at the Virar branch
Once you have an account at Model Co-operative Bank Ltd – VIRAR, the IFSC MDBK0000031 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 Virar branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 250-2514973.
- 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 MDBK0000031
MICR code & cheque clearing
Apart from IFSC, every cheque book issued by Model Co-operative Bank Ltd carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC MDBK0000031 and the account number together uniquely identify the Virar 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 Virar 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 MDBK0000031 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 Model Co-operative Bank Ltd – VIRAR:
- The IFSC is exactly MDBK0000031 with no extra spaces.
- The beneficiary's account number matches what they shared, digit for digit.
- The portal auto-fills Model Co-operative Bank Ltd as the bank name and VIRAR 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.
Reaching the branch
The Virar branch sits at SHOP NO.1,GANGOTRI CHS,VIRAT NAGAR,VIRAR WEST. If you are travelling from outside Palghar, search for the branch on a maps application using the bank name and locality, or call 250-2514973 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 MDBK0000031 and your account number.
Other ways to verify the IFSC code
While this page already lists the verified IFSC MDBK0000031 for Model Co-operative Bank Ltd – VIRAR, 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.
Working hours
Branch counters at Virar 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 MDBK0000031 continue to work without interruption.
Branch address & contact
Model Co-operative Bank LtdVirar Branch
SHOP NO.1,GANGOTRI CHS,VIRAT NAGAR,VIRAR WEST
Palghar, Maharashtra
Phone: 250-2514973
IFSC: MDBK0000031
Frequently asked questions
What is the phone number of Model Co-operative Bank Ltd Virar branch?
You can reach the branch at 250-2514973 during regular banking hours.
Is IFSC MDBK0000031 valid for NEFT and RTGS?
Yes. IFSC MDBK0000031 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Is IFSC MDBK0000031 the same for all accounts at Virar branch?
Yes. The IFSC MDBK0000031 is shared by every account held at Model Co-operative Bank Ltd's Virar 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 Virar branch but serve different purposes.
Does Model Co-operative Bank Ltd Virar branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on 250-2514973 to confirm.
How quickly will an NEFT transfer using MDBK0000031 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Model Co-operative Bank Ltd – Virar reflect within 30 minutes.
Summary
The IFSC code MDBK0000031 belongs to Model Co-operative Bank Ltd's VIRAR branch, located at SHOP NO.1,GANGOTRI CHS,VIRAT NAGAR,VIRAR WEST in PALGHAR, 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.
