IFSC Code of Punjab and Sind Bank, Midda Branch, Punjab

Below are the complete branch details for Punjab and Sind Bank, MIDDA branch, located in MIDDA, PUNJAB. The IFSC assigned by the Reserve Bank of India to this branch is PSIB0000516. Whether you want to transfer money, add a beneficiary, verify a cheque or simply confirm the branch address, you will find authentic, up-to-date information on this page that has been cross-checked against the bank's branch directory and the RBI's master list of participants in the National Electronic Funds Transfer system.

The IFSC code is one of the most frequently asked-for pieces of information when somebody wants to send you money or set up a recurring credit such as a salary, EMI auto-debit or supplier payment. Knowing exactly which IFSC belongs to your branch — in this case PSIB0000516 for Punjab and Sind Bank – MIDDA — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

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 Punjab and Sind Bank's MIDDA branch, the IFSC PSIB0000516 breaks down as follows: PSIB identifies the bank, 0 is the reserved character, and 000516 identifies this particular branch.

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 Midda branch in Midda, Punjab is part of this network and uses the IFSC code PSIB0000516 for all electronic settlement.

Midda branch overview

Located at MIDDA, DISTT. MUKTSAR, PUNJAB - 151210, the Midda branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC PSIB0000516 is required for all interbank electronic transfers routed through this branch.

Branch details at a glance

The role of IFSC in India's payments network

India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Punjab and Sind Bank's MIDDA branch came to be assigned the code PSIB0000516.

Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC PSIB0000516, money simply cannot be routed to the MIDDA branch electronically.

MICR & cheque-truncation details

Cheques drawn on the Midda branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC PSIB0000516 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 PSIB0000516

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 PSIB0000516 across all three.

NEFT to Punjab and Sind Bank, MIDDA using IFSC PSIB0000516

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 PSIB0000516, and confirm that the system picks up Punjab and Sind Bank – MIDDA. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC PSIB0000516

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 – MIDDA, ensure your bank's portal accepts IFSC PSIB0000516 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to Punjab and Sind Bank – MIDDA, use IMPS. With IFSC PSIB0000516 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 Midda

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 PSIB0000516:

• 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 MIDDA is still linked to IFSC PSIB0000516.

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 PSIB0000516

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 – MIDDA is still mapped to IFSC PSIB0000516. 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 PSIB0000516 and the beneficiary's account number to complete the transfer.

Account types you can open at the Midda branch

Once you have an account at Punjab and Sind Bank – MIDDA, the IFSC PSIB0000516 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 Midda branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 1637-242104.

• 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 PSIB0000516

Online banking and IFSC PSIB0000516

Punjab and Sind Bank customers can register for net banking and the bank's official mobile app once their account at the MIDDA branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC PSIB0000516 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.

How to reach the Midda branch

The branch is located at MIDDA, DISTT. MUKTSAR, PUNJAB - 151210, which puts it inside Midda, the broader Muktsar district, and the state of Punjab. To plan your visit:

1. Open Google Maps on your phone and search for “Punjab and Sind Bank Midda branch” — the verified location pin for IFSC PSIB0000516 should appear at the top of the results.
2. Confirm the branch is open by calling 1637-242104 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 PSIB0000516 and your account number.

Common mistakes to avoid when using IFSC PSIB0000516

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 – MIDDA, 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: PSIB0000516.
• 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.

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 Midda branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC PSIB0000516, however, work 24x7.

Verifying IFSC PSIB0000516 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 PSIB0000516 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 1637-242104.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Final notes

To recap: PSIB0000516 is the IFSC code of Punjab and Sind Bank, MIDDA branch, in MIDDA, PUNJAB. 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.