IFSC Code of Union Bank of India, Risk Management Department Branch, Maharashtra

Use this page as a one-stop reference for everything related to Union Bank of India's RISK MANAGEMENT DEPARTMENT branch in MUMBAI, MAHARASHTRA. The branch's IFSC code UBIN0580261 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.

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 Union Bank of India – RISK MANAGEMENT DEPARTMENT is UBIN0580261. The first four letters UBIN are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters 580261 map to this branch in MUMBAI, MAHARASHTRA.

About Union Bank of India

Union Bank of India operates a wide network of branches across India, including the Risk Management Department branch in Mumbai. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, UBIN0580261.

About the Risk Management Department branch

The Risk Management Department branch of Union Bank of India is situated at WORLD TRADE CENTRE CUFFE PARADE MUMBAI MAHARASHTRA PINCODE 400005. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code UBIN0580261 is used.

Branch details at a glance

Why every Union 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 RISK MANAGEMENT DEPARTMENT of Union Bank of India — its own 11-character IFSC. The code UBIN0580261 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 UBIN0580261 the same way you would treat your account number — verify it once and save it carefully for future use.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Union Bank of India carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC UBIN0580261 and the account number together uniquely identify the Risk Management Department branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC UBIN0580261

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 UBIN0580261 across all three.

NEFT to Union Bank of India, RISK MANAGEMENT DEPARTMENT using IFSC UBIN0580261

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 UBIN0580261, and confirm that the system picks up Union Bank of India – RISK MANAGEMENT DEPARTMENT. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to RISK MANAGEMENT DEPARTMENT

If you need to transfer ₹2 lakh or more in one go to an account at Union Bank of India's RISK MANAGEMENT DEPARTMENT branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC UBIN0580261 while initiating the transfer and the credit will appear within minutes.

Send money instantly through IMPS

For a real-time, anytime transfer to Union Bank of India – RISK MANAGEMENT DEPARTMENT, use IMPS. With IFSC UBIN0580261 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 Risk Management Department

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 UBIN0580261:

• 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 RISK MANAGEMENT DEPARTMENT is still linked to IFSC UBIN0580261.

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 UBIN0580261

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 Union Bank of India – RISK MANAGEMENT DEPARTMENT is still mapped to IFSC UBIN0580261. 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 UBIN0580261 and the beneficiary's account number to complete the transfer.

Account types you can open at the Risk Management Department branch

Once you have an account at Union Bank of India – RISK MANAGEMENT DEPARTMENT, the IFSC UBIN0580261 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 Risk Management Department branch can access most of Union 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 UBIN0580261

Digital banking channels

Most day-to-day work that customers used to do at the Risk Management Department 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 UBIN0580261 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.

Reaching the branch

The Risk Management Department branch sits at WORLD TRADE CENTRE CUFFE PARADE MUMBAI MAHARASHTRA PINCODE 400005. If you are travelling from outside Mumbai, search for the branch on a maps application using the bank name and locality, or call the branch contact number 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 UBIN0580261 and your account number.

Common mistakes to avoid when using IFSC UBIN0580261

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 Union Bank of India – RISK MANAGEMENT DEPARTMENT, 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: UBIN0580261.
• 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.

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 Risk Management Department branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC UBIN0580261, however, work 24x7.

Verifying IFSC UBIN0580261 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 UBIN0580261 by:

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

Branch address & contact

Frequently asked questions

Summary

The IFSC code UBIN0580261 belongs to Union Bank of India's RISK MANAGEMENT DEPARTMENT branch, located at WORLD TRADE CENTRE CUFFE PARADE MUMBAI MAHARASHTRA PINCODE 400005 in MUMBAI, 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.