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

This page lists the IFSC code, branch address, contact number and fund-transfer information for Bank of India, MPGB KHARGONE branch in RAISEN. The 11-digit IFSC BKID0MG7020 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 KHARGONE 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 KHARGONE is BKID0MG7020. The first four letters BKID are the bank's identifier, the fifth digit is reserved as 0, and the trailing six characters MG7020 map to this branch in RAISEN, MADHYA PRADESH.

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 Khargone branch in Raisen, Madhya Pradesh is part of this network and uses the IFSC code BKID0MG7020 for all electronic settlement.

Branch details at a glance

About the Mpgb Khargone branch

The Mpgb Khargone branch of Bank of India is situated at VILL KHARGONE TAH BARELI DISTT RAISEN. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code BKID0MG7020 is used.

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 KHARGONE of Bank of India — its own 11-character IFSC. The code BKID0MG7020 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 BKID0MG7020 the same way you would treat your account number — verify it once and save it carefully for future use.

Account types you can open at the Mpgb Khargone branch

Once you have an account at Bank of India – MPGB KHARGONE, the IFSC BKID0MG7020 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 Khargone 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 BKID0MG7020

How to transfer money using IFSC BKID0MG7020

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 BKID0MG7020 across all three.

NEFT to Bank of India, MPGB KHARGONE using IFSC BKID0MG7020

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 BKID0MG7020, and confirm that the system picks up Bank of India – MPGB KHARGONE. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

Real-Time Gross Settlement to MPGB KHARGONE

If you need to transfer ₹2 lakh or more in one go to an account at Bank of India's MPGB KHARGONE branch, RTGS is the right channel. Each transaction is settled individually in real time. Use IFSC BKID0MG7020 while initiating the transfer and the credit will appear within minutes.

IMPS to Bank of India MPGB KHARGONE (IFSC BKID0MG7020)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC BKID0MG7020 in your mobile or internet banking app, and the money is credited to the MPGB KHARGONE branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Mpgb Khargone

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 BKID0MG7020:

• 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 KHARGONE is still linked to IFSC BKID0MG7020.

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 KHARGONE branch, the IFSC BKID0MG7020 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.

Online banking and IFSC BKID0MG7020

Bank of India customers can register for net banking and the bank's official mobile app once their account at the MPGB KHARGONE branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC BKID0MG7020 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.

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 BKID0MG7020 and the account number together uniquely identify the Mpgb Khargone 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 KHARGONE:

• The IFSC is exactly BKID0MG7020 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 KHARGONE 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.

How to reach the Mpgb Khargone branch

The branch is located at VILL KHARGONE TAH BARELI DISTT RAISEN, which puts it inside Raisen, the broader Raisen district, and the state of Madhya Pradesh. To plan your visit:

1. Open Google Maps on your phone and search for “Bank of India Mpgb Khargone branch” — the verified location pin for IFSC BKID0MG7020 should appear at the top of the results.
2. Confirm the branch is open by calling 91-9425654984 before stepping out, especially around public holidays.
3. Carry photo ID and any account-related documents you may need for the transaction you plan to do.

Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC BKID0MG7020 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0MG7020 for Bank of India – MPGB KHARGONE, 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 Khargone branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC BKID0MG7020, however, work 24x7.

Branch address & contact

Frequently asked questions

Final notes

To recap: BKID0MG7020 is the IFSC code of Bank of India, MPGB KHARGONE branch, in RAISEN, 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.