IFSC Code of NKGSB Cooperative Bank Limited, Parel Branch, Maharashtra

If you are searching for the IFSC code of NKGSB Cooperative Bank Limited, PAREL branch in MUMBAI, MAHARASHTRA, this page has every detail you need. The verified IFSC code for this branch is NKGS0000029. You can use it for NEFT, RTGS and IMPS fund transfers, online banking add-payee actions, UPI mandates and any other electronic payment request that asks for an Indian Financial System Code. The information on this page is curated specifically for customers, remitters, employers and businesses who need to credit funds to an account maintained at this branch, and it is structured so you can find what you need within a few seconds of landing here.

You will see the complete branch address, the area STD code and phone number, the city and state, the day-to-day banking services that are typically offered at the PAREL branch, and detailed step-by-step guides for using the IFSC NKGS0000029 across NEFT, RTGS and IMPS rails. A frequently-asked-questions section at the end answers the most common queries we receive about this particular 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, NKGS0000029 is the IFSC of NKGSB Cooperative Bank Limited's PAREL branch. The format is fixed: NKGS = bank code, 0 = reserved, 000029 = branch identifier.

About the bank

NKGSB Cooperative Bank Limited 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 NKGS0000029 for all electronic settlement.

About this branch

The branch is located at CENTRE POINT,UNIT NO 10, DR.BABASAHEB AMBEDKAR ROAD,OPP.BHARATMATA TALKIES, PAREL, MUMBAI 400 012.. 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 NKGSB Cooperative Bank Limited. The IFSC NKGS0000029 is used to identify this branch on the RBI payments network.

Branch details at a glance

Why every NKGSB Cooperative Bank Limited 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 NKGSB Cooperative Bank Limited — its own 11-character IFSC. The code NKGS0000029 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 NKGS0000029 the same way you would treat your account number — verify it once and save it carefully for future use.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by NKGSB Cooperative Bank Limited carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC NKGS0000029 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.

How to transfer money using IFSC NKGS0000029

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 NKGS0000029 across all three.

NEFT to NKGSB Cooperative Bank Limited, PAREL using IFSC NKGS0000029

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 NKGS0000029, and confirm that the system picks up NKGSB Cooperative Bank Limited – 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 NKGSB Cooperative Bank Limited's PAREL branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC NKGS0000029 while initiating the transfer and the credit will appear within minutes.

IMPS to NKGSB Cooperative Bank Limited PAREL (IFSC NKGS0000029)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC NKGS0000029 in your mobile or internet banking app, and the money is credited to the PAREL branch account within seconds.

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 NKGS0000029:

• 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 NKGS0000029.

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 NKGSB Cooperative Bank Limited's PAREL branch, the IFSC NKGS0000029 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 Parel branch

Once you have an account at NKGSB Cooperative Bank Limited – PAREL, the IFSC NKGS0000029 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 22-24155137.

• 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 NKGS0000029

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 NKGS0000029 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.

Reaching the branch

The Parel branch sits at CENTRE POINT,UNIT NO 10, DR.BABASAHEB AMBEDKAR ROAD,OPP.BHARATMATA TALKIES, PAREL, MUMBAI 400 012.. If you are travelling from outside Mumbai, search for the branch on a maps application using the bank name and locality, or call 22-24155137 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 NKGS0000029 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 NKGSB Cooperative Bank Limited – PAREL:

• The IFSC is exactly NKGS0000029 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills NKGSB Cooperative Bank Limited as the bank name and PAREL 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.

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 NKGS0000029, however, work 24x7.

Other ways to verify the IFSC code

While this page already lists the verified IFSC NKGS0000029 for NKGSB Cooperative Bank Limited – PAREL, 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 NKGS0000029 belongs to NKGSB Cooperative Bank Limited's PAREL branch, located at CENTRE POINT,UNIT NO 10, DR.BABASAHEB AMBEDKAR ROAD,OPP.BHARATMATA TALKIES,… 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.