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

If you are searching for the IFSC code of Punjab and Sind Bank, PHAGUWALA branch in SANGRUR, PUNJAB, this page has every detail you need. The verified IFSC code for this branch is PSIB0021120. 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 PHAGUWALA branch, and detailed step-by-step guides for using the IFSC PSIB0021120 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.

The Indian Financial System Code, popularly known as IFSC, is an 11-digit alphanumeric code that the RBI assigns to every bank branch participating in online interbank settlement. Without this code, an electronic transfer simply cannot reach its destination branch.

The IFSC for Punjab and Sind Bank – PHAGUWALA is PSIB0021120. The first four letters PSIB are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 021120 map to this branch in SANGRUR, PUNJAB.

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 Phaguwala branch — IFSC PSIB0021120 — extends the bank's services to customers in and around Sangrur, Punjab.

About this branch

The branch is located at VPO PHGUWALA TEHSIL BHAWANIGARH DISTT SANGRUR PUNJAB 148026. It serves the Sangrur 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 PSIB0021120 is used to identify this branch on the RBI payments network.

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 PHAGUWALA branch came to be assigned the code PSIB0021120.

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 PSIB0021120, money simply cannot be routed to the PHAGUWALA branch electronically.

How to transfer money using IFSC PSIB0021120

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 PSIB0021120 across all three.

NEFT to Punjab and Sind Bank, PHAGUWALA using IFSC PSIB0021120

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 PSIB0021120, and confirm that the system picks up Punjab and Sind Bank – PHAGUWALA. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC PSIB0021120

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 – PHAGUWALA, ensure your bank's portal accepts IFSC PSIB0021120 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Punjab and Sind Bank PHAGUWALA (IFSC PSIB0021120)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC PSIB0021120 in your mobile or internet banking app, and the money is credited to the PHAGUWALA branch account within seconds.

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

All three modes accept the IFSC PSIB0021120 for Punjab and Sind Bank – PHAGUWALA, 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 Phaguwala 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.

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 Punjab and Sind Bank's PHAGUWALA branch, the IFSC PSIB0021120 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 Phaguwala branch

Once you have an account at Punjab and Sind Bank – PHAGUWALA, the IFSC PSIB0021120 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.

Products and services

Customers walking into the Phaguwala 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 PSIB0021120

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 PSIB0021120 and the account number together uniquely identify the Phaguwala branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Digital banking channels

Most day-to-day work that customers used to do at the Phaguwala 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 PSIB0021120 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.

Common mistakes to avoid when using IFSC PSIB0021120

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 – PHAGUWALA, 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: PSIB0021120.
• 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.

How to reach the Phaguwala branch

The branch is located at VPO PHGUWALA TEHSIL BHAWANIGARH DISTT SANGRUR PUNJAB 148026, which puts it inside Sangrur, the broader Sangrur district, and the state of Punjab. To plan your visit:

1. Open Google Maps on your phone and search for “Punjab and Sind Bank Phaguwala branch” — the verified location pin for IFSC PSIB0021120 should appear at the top of the results.
2. Confirm the branch is open by calling 1672-278122 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 PSIB0021120 and your account number.

Verifying IFSC PSIB0021120 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 PSIB0021120 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 1672-278122.
• Visiting the bank's official branch locator page.

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 Phaguwala branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC PSIB0021120, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code PSIB0021120 belongs to Punjab and Sind Bank's PHAGUWALA branch, located at VPO PHGUWALA TEHSIL BHAWANIGARH DISTT SANGRUR PUNJAB 148026 in SANGRUR, PUNJAB. 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.