This page lists the IFSC code, branch address, contact number and fund-transfer information for State Bank of India, NEW MARKET ITARSI branch in ITARSI. The 11-digit IFSC SBIN0012161 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 NEW MARKET ITARSI 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.
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 State Bank of India – NEW MARKET ITARSI is SBIN0012161. The first four letters SBIN are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 012161 map to this branch in ITARSI, MADHYA PRADESH.
Branch details at a glance
| Bank Name | State Bank of India |
|---|---|
| Branch | New Market Itarsi |
| IFSC Code | SBIN0012161 |
| MICR Code | Refer to cheque leaf |
| Branch Address | NEAR CITY HARDWARE,BETUL ROAD,ITARSI,DIST HOSHANGABAD 461111 |
| City | Itarsi |
| District | Hoshangabad |
| State | Madhya Pradesh |
About the bank
State Bank of India serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its New Market Itarsi branch in Itarsi, Madhya Pradesh is part of this network and uses the IFSC code SBIN0012161 for all electronic settlement.
About this branch
The branch is located at NEAR CITY HARDWARE,BETUL ROAD,ITARSI,DIST HOSHANGABAD 461111. It serves the Itarsi region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of State Bank of India. The IFSC SBIN0012161 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 State Bank of India's NEW MARKET ITARSI branch came to be assigned the code SBIN0012161.
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 SBIN0012161, money simply cannot be routed to the NEW MARKET ITARSI branch electronically.
How to transfer money using IFSC SBIN0012161
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 SBIN0012161 across all three.
NEFT to State Bank of India, NEW MARKET ITARSI using IFSC SBIN0012161
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 SBIN0012161, and confirm that the system picks up State Bank of India – NEW MARKET ITARSI. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.
RTGS transfers via IFSC SBIN0012161
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 – NEW MARKET ITARSI, ensure your bank's portal accepts IFSC SBIN0012161 while registering the beneficiary. RTGS is also available 24x7.
Send money instantly through IMPS
For a real-time, anytime transfer to State Bank of India – NEW MARKET ITARSI, use IMPS. With IFSC SBIN0012161 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.
NEFT vs RTGS vs IMPS — which one should you use?
All three modes accept the IFSC SBIN0012161 for State Bank of India – NEW MARKET ITARSI, 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.
| Parameter | NEFT | RTGS | IMPS |
|---|---|---|---|
| Minimum amount | ₹1 | ₹2,00,000 | ₹1 |
| Maximum amount | No RBI cap | No RBI cap | ₹5,00,000 |
| Settlement | Half-hourly batches | Real-time | Real-time |
| Availability | 24x7 | 24x7 | 24x7 |
| Best for | Routine transfers | High-value transfers | Urgent small / mid transfers |
| IFSC required | Yes – SBIN0012161 | Yes – SBIN0012161 | Yes – SBIN0012161 |
For most retail customers crediting the New Market Itarsi 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 State Bank of India's NEW MARKET ITARSI branch, the IFSC SBIN0012161 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.
Products and account variants supported
Every account opened at the New Market Itarsi branch is mapped to IFSC SBIN0012161 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 SBIN0012161.
Products and services
Customers walking into the New Market Itarsi 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 SBIN0012161
MICR & cheque-truncation details
Cheques drawn on the New Market Itarsi branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC SBIN0012161 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 New Market Itarsi 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 SBIN0012161 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.
Things to verify before sending money
Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to State Bank of India – NEW MARKET ITARSI:
- The IFSC is exactly SBIN0012161 with no extra spaces.
- The beneficiary's account number matches what they shared, digit for digit.
- The portal auto-fills State Bank of India as the bank name and NEW MARKET ITARSI as the branch.
- The amount and the purpose of payment are correct.
- You have a valid OTP-verifying mobile number on hand.
A 30-second review here saves hours of reconciliation later.
How to reach the New Market Itarsi branch
The branch is located at NEAR CITY HARDWARE,BETUL ROAD,ITARSI,DIST HOSHANGABAD 461111, which puts it inside Itarsi, the broader Hoshangabad district, and the state of Madhya Pradesh. To plan your visit:
- Open Google Maps on your phone and search for “State Bank of India New Market Itarsi branch” — the verified location pin for IFSC SBIN0012161 should appear at the top of the results.
- Confirm the branch is open by calling the branch contact number before stepping out, especially around public holidays.
- 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 SBIN0012161 and your account number.
Other ways to verify the IFSC code
While this page already lists the verified IFSC SBIN0012161 for State Bank of India – NEW MARKET ITARSI, 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.
Working hours
Branch counters at New Market Itarsi 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 SBIN0012161 continue to work without interruption.
Branch address & contact
State Bank of IndiaNew Market Itarsi Branch
NEAR CITY HARDWARE,BETUL ROAD,ITARSI,DIST HOSHANGABAD 461111
Itarsi, Madhya Pradesh
Phone: the branch contact number
IFSC: SBIN0012161
Frequently asked questions
How quickly will an NEFT transfer using SBIN0012161 be credited?
NEFT settles in half-hourly batches around the clock. Most transfers to State Bank of India – New Market Itarsi reflect within 30 minutes.
Does State Bank of India New Market Itarsi branch offer locker facilities?
Locker availability depends on branch size and customer demand. Please contact the branch on the branch contact number to confirm.
What is the difference between IFSC and MICR code?
IFSC is an 11-character alphanumeric code used for online transfers, while MICR is a 9-digit numeric code printed on cheques and used by cheque-clearing machines. Both identify the New Market Itarsi branch but serve different purposes.
What is the phone number of State Bank of India New Market Itarsi branch?
You can reach the branch at the branch contact number during regular banking hours.
How do I add State Bank of India New Market Itarsi as a beneficiary?
Log in to your internet or mobile banking app, go to Add Beneficiary, enter the account number and IFSC SBIN0012161, and complete OTP verification. Once activated, you can transfer funds at any time.
Is IFSC SBIN0012161 the same for all accounts at New Market Itarsi branch?
Yes. The IFSC SBIN0012161 is shared by every account held at State Bank of India's New Market Itarsi branch. Only the account number changes from customer to customer.
Is IFSC SBIN0012161 valid for NEFT and RTGS?
Yes. IFSC SBIN0012161 is valid for all RBI-supported electronic transfer channels including NEFT, RTGS and IMPS.
Summary
The IFSC code SBIN0012161 belongs to State Bank of India's NEW MARKET ITARSI branch, located at NEAR CITY HARDWARE,BETUL ROAD,ITARSI,DIST HOSHANGABAD 461111 in ITARSI, MADHYA PRADESH. 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.
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