IFSC Code of State Bank of India, Basmat Road Parbhani Branch, Maharashtra

Use this page as a one-stop reference for everything related to State Bank of India's BASMAT ROAD PARBHANI branch in PARBHANI, MAHARASHTRA. The branch's IFSC code SBIN0021054 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.

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, SBIN0021054 is the IFSC of State Bank of India's BASMAT ROAD PARBHANI branch. The format is fixed: SBIN = bank code, 0 = reserved, 021054 = 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 Basmat Road Parbhani branch — IFSC SBIN0021054 — extends the bank's services to customers in and around Parbhani, Maharashtra.

About this branch

The branch is located at 3SHIVRAMNAGARBASMATROADPARBHANI. It serves the Parbhani 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 SBIN0021054 is used to identify this branch on the RBI payments network.

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 BASMAT ROAD PARBHANI of State Bank of India — its own 11-character IFSC. The code SBIN0021054 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 SBIN0021054 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 SBIN0021054

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 SBIN0021054 across all three.

NEFT to State Bank of India, BASMAT ROAD PARBHANI using IFSC SBIN0021054

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 SBIN0021054, and confirm that the system picks up State Bank of India – BASMAT ROAD PARBHANI. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC SBIN0021054

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 – BASMAT ROAD PARBHANI, ensure your bank's portal accepts IFSC SBIN0021054 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 – BASMAT ROAD PARBHANI, use IMPS. With IFSC SBIN0021054 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 Basmat Road Parbhani

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 SBIN0021054:

• 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 BASMAT ROAD PARBHANI is still linked to IFSC SBIN0021054.

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.

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 BASMAT ROAD PARBHANI branch, the IFSC SBIN0021054 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 Basmat Road Parbhani branch

Once you have an account at State Bank of India – BASMAT ROAD PARBHANI, the IFSC SBIN0021054 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 Basmat Road Parbhani branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 2382-244826.

• 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 SBIN0021054

MICR & cheque-truncation details

Cheques drawn on the Basmat Road Parbhani branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC SBIN0021054 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 Basmat Road Parbhani 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 SBIN0021054 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 – BASMAT ROAD PARBHANI:

• The IFSC is exactly SBIN0021054 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 BASMAT ROAD PARBHANI 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 Basmat Road Parbhani branch

The branch is located at 3SHIVRAMNAGARBASMATROADPARBHANI, which puts it inside Parbhani, the broader Parbhani district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “State Bank of India Basmat Road Parbhani branch” — the verified location pin for IFSC SBIN0021054 should appear at the top of the results.
2. Confirm the branch is open by calling 2382-244826 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 SBIN0021054 and your account number.

Verifying IFSC SBIN0021054 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 SBIN0021054 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 2382-244826.
• Visiting the bank's official branch locator page.

Working hours

Branch counters at Basmat Road Parbhani 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 SBIN0021054 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code SBIN0021054 belongs to State Bank of India's BASMAT ROAD PARBHANI branch, located at 3SHIVRAMNAGARBASMATROADPARBHANI in PARBHANI, MAHARASHTRA. 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.