IFSC Code of Bank of India, Mpgb Palsud Branch, Madhya Pradesh

This page lists the IFSC code, branch address, contact number and fund-transfer information for Bank of India, MPGB PALSUD branch in BARWANI. The 11-digit IFSC BKID0MG0229 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 Bank of India at the MPGB PALSUD 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 Bank of India – MPGB PALSUD is BKID0MG0229. The first four letters BKID are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters MG0229 map to this branch in BARWANI, MADHYA PRADESH.

Branch details at a glance

About Bank of India

Bank of India operates a wide network of branches across India, including the Mpgb Palsud branch in Barwani. 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, BKID0MG0229.

Mpgb Palsud branch overview

Located at NIWALI ROADPALSUD, the Mpgb Palsud branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC BKID0MG0229 is required for all interbank electronic transfers routed through this branch.

Why every 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 MPGB PALSUD of Bank of India — its own 11-character IFSC. The code BKID0MG0229 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 BKID0MG0229 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 BKID0MG0229

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 BKID0MG0229 across all three.

NEFT to Bank of India, MPGB PALSUD using IFSC BKID0MG0229

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 BKID0MG0229, and confirm that the system picks up Bank of India – MPGB PALSUD. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC BKID0MG0229

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 Bank of India – MPGB PALSUD, ensure your bank's portal accepts IFSC BKID0MG0229 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of India MPGB PALSUD (IFSC BKID0MG0229)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC BKID0MG0229 in your mobile or internet banking app, and the money is credited to the MPGB PALSUD branch account within seconds.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC BKID0MG0229 for Bank of India – MPGB PALSUD, 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.

For most retail customers crediting the Mpgb Palsud 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.

UPI payments and IFSC BKID0MG0229

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 Bank of India – MPGB PALSUD is still mapped to IFSC BKID0MG0229. 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 BKID0MG0229 and the beneficiary's account number to complete the transfer.

Account types you can open at the Mpgb Palsud branch

Once you have an account at Bank of India – MPGB PALSUD, the IFSC BKID0MG0229 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 Mpgb Palsud branch can access most of 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 BKID0MG0229

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by 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 BKID0MG0229 and the account number together uniquely identify the Mpgb Palsud branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Digital banking channels

Most day-to-day work that customers used to do at the Mpgb Palsud 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 BKID0MG0229 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 Bank of India – MPGB PALSUD:

• The IFSC is exactly BKID0MG0229 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills Bank of India as the bank name and MPGB PALSUD 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.

Reaching the branch

The Mpgb Palsud branch sits at NIWALI ROADPALSUD. If you are travelling from outside Barwani, search for the branch on a maps application using the bank name and locality, or call 91-9039790297 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 BKID0MG0229 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0MG0229 for Bank of India – MPGB PALSUD, 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 Mpgb Palsud 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 BKID0MG0229 continue to work without interruption.

Branch address & contact

Frequently asked questions

Final notes

To recap: BKID0MG0229 is the IFSC code of Bank of India, MPGB PALSUD branch, in BARWANI, MADHYA PRADESH. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.