IFSC Code of Punjab and Sind Bank, Raipur Branch, Chandigarh

Below are the complete branch details for Punjab and Sind Bank, RAIPUR branch, located in RAIPUR, CHANDIGARH. The IFSC assigned by the Reserve Bank of India to this branch is PSIB0000298. 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 PSIB0000298 for Punjab and Sind Bank – RAIPUR — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

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, PSIB0000298 is the IFSC of Punjab and Sind Bank's RAIPUR branch. The format is fixed: PSIB = bank code, 0 = reserved, 000298 = branch identifier.

Bank profile

Punjab and Sind Bank is among the recognised banks listed on the Reserve Bank of India's payments network. The Raipur branch — IFSC PSIB0000298 — extends the bank's services to customers in and around Raipur, Chandigarh.

Raipur branch overview

Located at POST BOX 88 K K ROAD RAIPUR 492001, the Raipur branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC PSIB0000298 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 RAIPUR branch came to be assigned the code PSIB0000298.

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 PSIB0000298, money simply cannot be routed to the RAIPUR branch electronically.

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 PSIB0000298 and the account number together uniquely identify the Raipur branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC PSIB0000298

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 PSIB0000298 across all three.

NEFT to Punjab and Sind Bank, RAIPUR using IFSC PSIB0000298

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 PSIB0000298, and confirm that the system picks up Punjab and Sind Bank – RAIPUR. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to RAIPUR

If you need to transfer ₹2 lakh or more in one go to an account at Punjab and Sind Bank's RAIPUR branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC PSIB0000298 while initiating the transfer and the credit will appear within minutes.

Send money instantly through IMPS

For a real-time, anytime transfer to Punjab and Sind Bank – RAIPUR, use IMPS. With IFSC PSIB0000298 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 Raipur

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 PSIB0000298:

• 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 RAIPUR is still linked to IFSC PSIB0000298.

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 PSIB0000298

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 – RAIPUR is still mapped to IFSC PSIB0000298. 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 PSIB0000298 and the beneficiary's account number to complete the transfer.

Account types you can open at the Raipur branch

Once you have an account at Punjab and Sind Bank – RAIPUR, the IFSC PSIB0000298 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 Raipur branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 91-2536393.

• 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 PSIB0000298

Digital banking channels

Most day-to-day work that customers used to do at the Raipur 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 PSIB0000298 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.

How to reach the Raipur branch

The branch is located at POST BOX 88 K K ROAD RAIPUR 492001, which puts it inside Raipur, the broader Raipur district, and the state of Chandigarh. To plan your visit:

1. Open Google Maps on your phone and search for “Punjab and Sind Bank Raipur branch” — the verified location pin for IFSC PSIB0000298 should appear at the top of the results.
2. Confirm the branch is open by calling 91-2536393 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 PSIB0000298 and your account number.

Common mistakes to avoid when using IFSC PSIB0000298

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 – RAIPUR, 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: PSIB0000298.
• 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 Raipur branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC PSIB0000298, however, work 24x7.

Verifying IFSC PSIB0000298 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 PSIB0000298 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 91-2536393.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Summary

The IFSC code PSIB0000298 belongs to Punjab and Sind Bank's RAIPUR branch, located at POST BOX 88 K K ROAD RAIPUR 492001 in RAIPUR, CHANDIGARH. 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.