Maharashtra Gramin Bank
SHIVAJI CHOWK LATUR BRANCH
+912382224696
Related Branches
Understanding IFSC Code: The Digital DNA of Maharashtra Gramin Bank
When performing any digital transaction in India, the Indian Financial System Code
(IFSC) acts as a critical identifier. For the SHIVAJI CHOWK LATUR
branch of Maharashtra Gramin Bank, the code MAHG0004317 ensures
that your funds are routed through the Reserve Bank of India's (RBI) structured network without manual
errors. In an era of instant payments, having the correct IFSC is as important as the account number
itself.
Anatomy of the MAHG0004317 Code
An IFSC is an 11-character alphanumeric code. Let's break down the logic behind the code for this specific branch:
Bank Identity
"MAHG" represents Maharashtra Gramin Bank
Control Character
Always '0' (Reserved for future use)
Branch Locator
Unique code for SHIVAJI CHOWK LATUR
Payment Systems Supported by MAHG0004317
| System | Transfer Limit | Processing Time |
|---|---|---|
| NEFT | No Minimum (Up to ₹50 Lakhs+) | Half-hourly batches (24x7) |
| RTGS | Minimum ₹2 Lakhs | Real-time settlement |
| IMPS | Up to ₹5 Lakhs | Instant (Mobile/P2P) |
Why do you need the MICR Code?
While IFSC is for digital transfers, the Magnetic Ink Character Recognition
(MICR) code—413570052—is primarily
used for the processing and clearance of physical cheques. This 9-digit code helps in
identifying the bank and branch during the Cheque Truncation System (CTS) cycle, making clearing
faster and error-free.
Bank Holidays & Availability
The Maharashtra Gramin Bank in SHIVAJI CHOWK LATUR typically follows the RBI holiday calendar. Digital transfers via MAHG0004317 for NEFT/RTGS are now available 365 days a year, regardless of physical branch timings or Sunday closures.
Security Warning & Verification
Always verify the branch details before making a large payment. While MAHG0004317 is the valid code for SHIVAJI CHOWK LATUR at SHIVAJI CHOWK LATUR, ensure the beneficiary name matches perfectly in your mobile banking app.
Bank Search Indexing & Metadata
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Financial Tools
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Branch Context
- • SHIVAJI CHOWK LATUR Contact
- • Address of Maharashtra Gramin Bank
- • MICR Code Finder
- • MAHARASHTRA Banking Circle
Platform Links
- • Anand Design DevBox
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- • IFSC Finder v2.0
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