IFSC Code of Bank of India, Mpgb Old Itarasi Branch, Madhya Pradesh

This page lists the IFSC code, branch address, contact number and fund-transfer information for Bank of India, MPGB OLD ITARASI branch in HOSHANGABAD. The 11-digit IFSC BKID0MG1032 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 OLD ITARASI 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 OLD ITARASI is BKID0MG1032. The first four letters BKID are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters MG1032 map to this branch in HOSHANGABAD, MADHYA PRADESH.

About Bank of India

Bank of India operates a wide network of branches across India, including the Mpgb Old Itarasi branch in Hoshangabad. 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, BKID0MG1032.

Branch details at a glance

Mpgb Old Itarasi branch overview

Located at POSTTEHSILITARASI DISTHOSHANGABAD 461111, the Mpgb Old Itarasi branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC BKID0MG1032 is required for all interbank electronic transfers routed through this branch.

The role of IFSC in India's payments network

India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Bank of India's MPGB OLD ITARASI branch came to be assigned the code BKID0MG1032.

Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC BKID0MG1032, money simply cannot be routed to the MPGB OLD ITARASI branch electronically.

Products and account variants supported

Every account opened at the Mpgb Old Itarasi branch is mapped to IFSC BKID0MG1032 on the RBI payments network. The branch generally supports the full retail product catalogue of Bank of India, including:

• Resident savings accounts and salary accounts
• Current accounts for businesses and professionals
• Fixed deposits, recurring deposits and tax-saver deposits
• Demand drafts, banker's cheques and pay orders
• Retail loans — personal, vehicle, education, gold and home
• Credit cards and overdraft facilities (subject to eligibility)
• Third-party investment products such as mutual funds and insurance (through tie-ups)

Whichever product you choose, the IFSC for incoming credits remains BKID0MG1032.

Products and services

Customers walking into the Mpgb Old Itarasi 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 BKID0MG1032

How to transfer money using IFSC BKID0MG1032

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 BKID0MG1032 across all three.

NEFT to Bank of India, MPGB OLD ITARASI using IFSC BKID0MG1032

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 BKID0MG1032, and confirm that the system picks up Bank of India – MPGB OLD ITARASI. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC BKID0MG1032

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 OLD ITARASI, ensure your bank's portal accepts IFSC BKID0MG1032 while registering the beneficiary. RTGS is also available 24x7.

Send money instantly through IMPS

For a real-time, anytime transfer to Bank of India – MPGB OLD ITARASI, use IMPS. With IFSC BKID0MG1032 and the beneficiary's account number you can move up to ₹5 lakh per transaction with instant credit, any day of the year.

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

All three modes accept the IFSC BKID0MG1032 for Bank of India – MPGB OLD ITARASI, 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 Old Itarasi 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.

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 Bank of India's MPGB OLD ITARASI branch, the IFSC BKID0MG1032 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.

Digital banking channels

Most day-to-day work that customers used to do at the Mpgb Old Itarasi 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 BKID0MG1032 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.

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 BKID0MG1032 and the account number together uniquely identify the Mpgb Old Itarasi branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

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 OLD ITARASI:

• The IFSC is exactly BKID0MG1032 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 OLD ITARASI 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 Old Itarasi branch sits at POSTTEHSILITARASI DISTHOSHANGABAD 461111. If you are travelling from outside Hoshangabad, search for the branch on a maps application using the bank name and locality, or call 91-8226010101 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 BKID0MG1032 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0MG1032 for Bank of India – MPGB OLD ITARASI, 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 Old Itarasi 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 BKID0MG1032 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code BKID0MG1032 belongs to Bank of India's MPGB OLD ITARASI branch, located at POSTTEHSILITARASI DISTHOSHANGABAD 461111 in HOSHANGABAD, MADHYA PRADESH. 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.