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

Below are the complete branch details for Punjab and Sind Bank, RAIPUR branch, located in RAIPUR, CHATTISGARH. The IFSC assigned by the Reserve Bank of India to this branch is PSIB0021157. 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 PSIB0021157 for Punjab and Sind Bank – RAIPUR — 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 RAIPUR branch, the IFSC PSIB0021157 breaks down as follows: PSIB identifies the bank, 0 is the reserved character, and 021157 identifies this particular branch.

Branch details at a glance

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 PSIB0021157 — extends the bank's services to customers in and around Raipur, Chattisgarh.

Raipur branch overview

Located at SHOP NO 25 MAHALAXMI CLOTH MARKET PANDRIRAIPUR CHHATISGARH 492004, 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 PSIB0021157 is required for all interbank electronic transfers routed through this branch.

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 RAIPUR of Punjab and Sind Bank — its own 11-character IFSC. The code PSIB0021157 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 PSIB0021157 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 PSIB0021157

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 PSIB0021157 across all three.

How to use IFSC PSIB0021157 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Punjab and Sind Bank's RAIPUR 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).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC PSIB0021157.
4. Confirm the bank name auto-populates as Punjab and Sind Bank and the branch as RAIPUR.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC PSIB0021157

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 – RAIPUR, ensure your bank's portal accepts IFSC PSIB0021157 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Punjab and Sind Bank RAIPUR (IFSC PSIB0021157)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC PSIB0021157 in your mobile or internet banking app, and the money is credited to the RAIPUR branch account within seconds.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC PSIB0021157 for Punjab and Sind Bank – RAIPUR, 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.

For most retail customers crediting the Raipur 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 PSIB0021157

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 PSIB0021157. 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 PSIB0021157 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Raipur branch is mapped to IFSC PSIB0021157 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 PSIB0021157.

Products and services

Customers walking into the Raipur branch can access most of Punjab and Sind Bank's standard product suite, including:

• Account opening – savings, current, NRI, salary
• Term deposits and recurring deposits
• Retail and small-business loans
• Insurance and mutual-fund tie-ups
• Locker, safe deposit and ATM card services
• Online and mobile banking activation
• Electronic transfers via IFSC PSIB0021157

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 PSIB0021157 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.

Online banking and IFSC PSIB0021157

Punjab and Sind Bank customers can register for net banking and the bank's official mobile app once their account at the RAIPUR 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 PSIB0021157 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.

Common mistakes to avoid when using IFSC PSIB0021157

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: PSIB0021157.
• 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 Raipur branch sits at SHOP NO 25 MAHALAXMI CLOTH MARKET PANDRIRAIPUR CHHATISGARH 492004. If you are travelling from outside Raipur, search for the branch on a maps application using the bank name and locality, or call 91-2582399 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 PSIB0021157 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC PSIB0021157 for Punjab and Sind Bank – RAIPUR, 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 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 PSIB0021157, however, work 24x7.

Branch address & contact

Frequently asked questions

Final notes

To recap: PSIB0021157 is the IFSC code of Punjab and Sind Bank, RAIPUR branch, in RAIPUR, CHATTISGARH. 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.