If you are searching for the IFSC code of Punjab and Sind Bank, KHANDWA branch in KHANDWA, MADHYA PRADESH, this page has every detail you need. The verified IFSC code for this branch is PSIB0021622. 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 KHANDWA branch, and detailed step-by-step guides for using the IFSC PSIB0021622 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, PSIB0021622 is the IFSC of Punjab and Sind Bank's KHANDWA branch. The format is fixed: PSIB = bank code, 0 = reserved, 021622 = branch identifier.
About the bank
Punjab and Sind Bank serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Khandwa branch in Khandwa, Madhya Pradesh is part of this network and uses the IFSC code PSIB0021622 for all electronic settlement.
Branch details at a glance
| Bank Name | Punjab and Sind Bank |
|---|---|
| Branch | Khandwa |
| IFSC Code | PSIB0021622 |
| MICR Code | Refer to cheque leaf |
| Branch Address | PLOT NO.1,PROFESSOR COLONY,ANAND NAGAR,KHANDWA |
| City | Khandwa |
| District | Khandwa |
| State | Madhya Pradesh |
| STD Code | 733 |
| Phone | 9990071715 |
About this branch
The branch is located at PLOT NO.1,PROFESSOR COLONY,ANAND NAGAR,KHANDWA. It serves the Khandwa region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Punjab and Sind Bank. The IFSC PSIB0021622 is used to identify this branch on the RBI payments network.
Why every Punjab and Sind 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 KHANDWA of Punjab and Sind Bank — its own 11-character IFSC. The code PSIB0021622 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 PSIB0021622 the same way you would treat your account number — verify it once and save it carefully for future use.
Products and account variants supported
Every account opened at the Khandwa branch is mapped to IFSC PSIB0021622 on the RBI payments network. The branch generally supports the full retail product catalogue of Punjab and Sind 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 PSIB0021622.
Banking services available
The Khandwa branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 733-9990071715.
- 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 PSIB0021622
How to transfer money using IFSC PSIB0021622
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 PSIB0021622 across all three.
How to use IFSC PSIB0021622 for an NEFT transfer
NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Punjab and Sind Bank's KHANDWA 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).
- Log in to your internet banking or mobile banking app.
- Choose Add Beneficiary and select NEFT / Other Bank.
- Enter the beneficiary name, account number and the IFSC PSIB0021622.
- Confirm the bank name auto-populates as Punjab and Sind Bank and the branch as KHANDWA.
- Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.
RTGS transfers via IFSC PSIB0021622
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 Punjab and Sind Bank – KHANDWA, ensure your bank's portal accepts IFSC PSIB0021622 while registering the beneficiary. RTGS is also available 24x7.
IMPS to Punjab and Sind Bank KHANDWA (IFSC PSIB0021622)
IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC PSIB0021622 in your mobile or internet banking app, and the money is credited to the KHANDWA branch account within seconds.
Comparing NEFT, RTGS and IMPS for transfers to Khandwa
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 PSIB0021622:
- 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 KHANDWA is still linked to IFSC PSIB0021622.
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.
UPI payments and IFSC PSIB0021622
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 Punjab and Sind Bank – KHANDWA is still mapped to IFSC PSIB0021622. 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 PSIB0021622 and the beneficiary's account number to complete the transfer.
Digital banking channels
Most day-to-day work that customers used to do at the Khandwa 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 PSIB0021622 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 Punjab and Sind Bank carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC PSIB0021622 and the account number together uniquely identify the Khandwa 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 PSIB0021622
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 Punjab and Sind Bank – KHANDWA, 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:
PSIB0021622. - 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 Khandwa branch sits at PLOT NO.1,PROFESSOR COLONY,ANAND NAGAR,KHANDWA. If you are travelling from outside Khandwa, search for the branch on a maps application using the bank name and locality, or call 733-9990071715 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 PSIB0021622 and your account number.
Other ways to verify the IFSC code
While this page already lists the verified IFSC PSIB0021622 for Punjab and Sind Bank – KHANDWA, 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 Khandwa 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 PSIB0021622 continue to work without interruption.
Branch address & contact
Punjab and Sind BankKhandwa Branch
PLOT NO.1,PROFESSOR COLONY,ANAND NAGAR,KHANDWA
Khandwa, Madhya Pradesh
Phone: 733-9990071715
IFSC: PSIB0021622
Frequently asked questions
What is the IFSC code of Punjab and Sind Bank Khandwa branch?
The IFSC code of Punjab and Sind Bank, Khandwa branch is PSIB0021622. It is used for NEFT, RTGS and IMPS fund transfers to this branch.
How do I add Punjab and Sind Bank Khandwa as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC PSIB0021622, and complete OTP verification. Once activated, you can transfer funds at any time.
How quickly will an NEFT transfer using PSIB0021622 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to Punjab and Sind Bank – Khandwa reflect within 30 minutes.
Can I use IFSC PSIB0021622 for IMPS transfers?
Yes. IMPS works 24x7 and you only need the beneficiary's account number plus IFSC PSIB0021622 to send funds instantly.
Where is Punjab and Sind Bank Khandwa branch located?
Punjab and Sind Bank's Khandwa branch is located at PLOT NO.1,PROFESSOR COLONY,ANAND NAGAR,KHANDWA, Khandwa, Madhya Pradesh.
Is IFSC PSIB0021622 valid for NEFT and RTGS?
Yes. IFSC PSIB0021622 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
What is the phone number of Punjab and Sind Bank Khandwa branch?
You can reach the branch at 733-9990071715 during regular banking hours.
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 Khandwa branch but serve different purposes.
Final notes
To recap: PSIB0021622 is the IFSC code of Punjab and Sind Bank, KHANDWA branch, in KHANDWA, MADHYA PRADESH. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.
