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

This page lists the IFSC code, branch address, contact number and fund-transfer information for Bank of India, MPGB MUSAKHEDI branch in INDORE. The 11-digit IFSC BKID0MG0432 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 MUSAKHEDI 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 MUSAKHEDI is BKID0MG0432. The first four letters BKID are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters MG0432 map to this branch in INDORE, MADHYA PRADESH.

Branch details at a glance

About the bank

Bank of India serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Mpgb Musakhedi branch in Indore, Madhya Pradesh is part of this network and uses the IFSC code BKID0MG0432 for all electronic settlement.

About this branch

The branch is located at MUSAKHEDI. It serves the Indore region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Bank of India. The IFSC BKID0MG0432 is used to identify this branch on the RBI payments network.

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 MUSAKHEDI branch came to be assigned the code BKID0MG0432.

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 BKID0MG0432, money simply cannot be routed to the MPGB MUSAKHEDI branch electronically.

How to transfer money using IFSC BKID0MG0432

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 BKID0MG0432 across all three.

NEFT to Bank of India, MPGB MUSAKHEDI using IFSC BKID0MG0432

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 BKID0MG0432, and confirm that the system picks up Bank of India – MPGB MUSAKHEDI. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC BKID0MG0432

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 MUSAKHEDI, ensure your bank's portal accepts IFSC BKID0MG0432 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of India MPGB MUSAKHEDI (IFSC BKID0MG0432)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC BKID0MG0432 in your mobile or internet banking app, and the money is credited to the MPGB MUSAKHEDI branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Mpgb Musakhedi

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 BKID0MG0432:

• 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 MPGB MUSAKHEDI is still linked to IFSC BKID0MG0432.

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.

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 MUSAKHEDI branch, the IFSC BKID0MG0432 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.

Account types you can open at the Mpgb Musakhedi branch

Once you have an account at Bank of India – MPGB MUSAKHEDI, the IFSC BKID0MG0432 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 Musakhedi 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 BKID0MG0432

MICR & cheque-truncation details

Cheques drawn on the Mpgb Musakhedi branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC BKID0MG0432 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

Digital banking channels

Most day-to-day work that customers used to do at the Mpgb Musakhedi 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 BKID0MG0432 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.

Common mistakes to avoid when using IFSC BKID0MG0432

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 Bank of India – MPGB MUSAKHEDI, 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: BKID0MG0432.
• 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.

Reaching the branch

The Mpgb Musakhedi branch sits at MUSAKHEDI. If you are travelling from outside Indore, search for the branch on a maps application using the bank name and locality, or call 91-9425911904 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 BKID0MG0432 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0MG0432 for Bank of India – MPGB MUSAKHEDI, 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.

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 Mpgb Musakhedi branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC BKID0MG0432, however, work 24x7.

Branch address & contact

Frequently asked questions

Summary

The IFSC code BKID0MG0432 belongs to Bank of India's MPGB MUSAKHEDI branch, located at MUSAKHEDI in INDORE, 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.