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Bank Details for MICR: 461002030

Bank NameState Bank Of India
Branch Name New Market Itarsi
Branch Code 012161
IFSC Code SBIN0012161
MICR Code 461002030
Bank Address Near City Hardware,betul Road,itarsi,dist Hoshangabad 461111
State Name Madhya Pradesh
City / Area Itarsi
District Name Hoshangabad
Contact Details0

MICR code - 461002030 of bank New Market Itarsi Hoshangabad Madhya Pradesh India State Bank Of India is use to do any online transaction like NEFT, RTGS, ECS Transactions.

IFSC Code - SBIN0012161 of bank State Bank Of India and MICR code - 461002030 of bank State Bank Of India is use to do any online transaction or transaction related to the New Market Itarsi branch of State Bank Of India Hoshangabad Madhya Pradesh. an Invalid use ifsc code or micr code will lead to failur of the transaction.


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MICR Code: Magnetic Ink Character Recognition MICR CODE is printed on cheque book to facilitate the Process of cheques.

National Electronic Funds Transfer (NEFT) is a nation-wide system that facilitates individuals, firms and corporates to electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country. NEFT transfers are also referred as e-cheques as the funds are not transferred in real-time and the funds are settled in batches.

'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). You need the IFSC Code to identify the Branch for which you will want to transfer funds using RTGS. Note all branches don't have IFSC Codes.

'IMPS' is Immediate Payment Service and it is commonly known as Interbank Mobile Payment Service. IMPS uses IFSC codes to offer a number of fund transfer services instantly in a round the clock environment. National Payments Corporation of India (NPCI), which is an organization that regulates the retail payments in India, has provided this facility.