IFSC Code of State Bank of India, Musakhedi Branch, Madhya Pradesh

This page lists the IFSC code, branch address, contact number and fund-transfer information for State Bank of India, MUSAKHEDI branch in INDORE. The 11-digit IFSC SBIN0061103 uniquely identifies this branch in the RBI's centralised payments network and is required for every NEFT, RTGS or IMPS transaction routed to this branch. If you are paying somebody who banks with State Bank of India at the MUSAKHEDI location, this is the only IFSC you need.

We have organised this page into clearly labelled sections so you can jump straight to the part that interests you — the IFSC and MICR details, the full postal address, the contact phone number, a quick primer on NEFT, RTGS and IMPS, the typical product line-up at the branch, and a frequently asked questions section that addresses the queries people raise most often about this 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, SBIN0061103 is the IFSC of State Bank of India's MUSAKHEDI branch. The format is fixed: SBIN = bank code, 0 = reserved, 061103 = branch identifier.

Branch details at a glance

Bank profile

State Bank of India is among the recognised banks listed on the Reserve Bank of India's payments network. The Musakhedi branch — IFSC SBIN0061103 — extends the bank's services to customers in and around Indore, Madhya Pradesh.

Musakhedi branch overview

Located at IDA COLONY, RING ROAD, INDORE, DISTT. INDORE. M.P 452001, the Musakhedi branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC SBIN0061103 is required for all interbank electronic transfers routed through this branch.

Why every State Bank of India 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 MUSAKHEDI of State Bank of India — its own 11-character IFSC. The code SBIN0061103 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 SBIN0061103 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 SBIN0061103

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 SBIN0061103 across all three.

NEFT to State Bank of India, MUSAKHEDI using IFSC SBIN0061103

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 SBIN0061103, and confirm that the system picks up State Bank of India – MUSAKHEDI. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC SBIN0061103

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 State Bank of India – MUSAKHEDI, ensure your bank's portal accepts IFSC SBIN0061103 while registering the beneficiary. RTGS is also available 24x7.

IMPS to State Bank of India MUSAKHEDI (IFSC SBIN0061103)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC SBIN0061103 in your mobile or internet banking app, and the money is credited to the MUSAKHEDI branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Musakhedi

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 SBIN0061103:

• 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 MUSAKHEDI is still linked to IFSC SBIN0061103.

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 SBIN0061103

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 State Bank of India – MUSAKHEDI is still mapped to IFSC SBIN0061103. 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 SBIN0061103 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Musakhedi branch is mapped to IFSC SBIN0061103 on the RBI payments network. The branch generally supports the full retail product catalogue of State Bank of India, 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 SBIN0061103.

Products and services

Customers walking into the Musakhedi branch can access most of State Bank of India'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 SBIN0061103

MICR & cheque-truncation details

Cheques drawn on the Musakhedi branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC SBIN0061103 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

Digital banking channels

Most day-to-day work that customers used to do at the Musakhedi 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 SBIN0061103 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 SBIN0061103

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 State Bank of India – MUSAKHEDI, 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: SBIN0061103.
• 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 Musakhedi branch

The branch is located at IDA COLONY, RING ROAD, INDORE, DISTT. INDORE. M.P 452001, which puts it inside Indore, the broader Indore district, and the state of Madhya Pradesh. To plan your visit:

1. Open Google Maps on your phone and search for “State Bank of India Musakhedi branch” — the verified location pin for IFSC SBIN0061103 should appear at the top of the results.
2. Confirm the branch is open by calling 7748822398 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 SBIN0061103 and your account number.

Verifying IFSC SBIN0061103 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 SBIN0061103 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 7748822398.
• Visiting the bank's official branch locator page.

Working hours

Branch counters at Musakhedi 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 SBIN0061103 continue to work without interruption.

Branch address & contact

Frequently asked questions

Final notes

To recap: SBIN0061103 is the IFSC code of State Bank of India, MUSAKHEDI branch, in INDORE, 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.