The IFSC Code (Indian Financial System Code) is a crucial identifier used for sending money online through NEFT, RTGS, and IMPS. Every bank branch in India has its own unique IFSC code, including Madhyanchal Gramin Bank, which operates across multiple districts in Madhya Pradesh.
Understanding the IFSC code makes fund transfers safer, faster, and error-free. Let’s explore the IFSC code format, how to find your branch code, and other essential banking information.
What is the IFSC Code of Madhyanchal Gramin Bank?
The Madhyanchal Gramin Bank IFSC code is an 11-character alphanumeric code assigned to each branch.
Its structure is always the same:
- First 4 letters → Bank name code
- 5th character → Always 0 (reserved by RBI)
- Last 6 characters → Specific branch code
Example:
If the IFSC code looks like XXXX0YYYYYY,
- XXXX = Bank identifier
- YYYYYY = Branch identifier
This unique code ensures the money reaches the correct branch during online fund transfers.
How to Find the IFSC Code of Madhyanchal Gramin Bank?
There are several easy ways to search your branch’s IFSC code:
1. On Your Bank Passbook
The first or second page of your passbook contains:
- Branch address
- Account number
- IFSC Code
- Customer ID
2. On Your Chequebook
Each cheque leaf displays the IFSC code on the top of the page.
3. Through Online Search
You can search by:
- Branch name
- District
- Bank name
- MICR code
4. Through Internet Banking Apps
Most digital banking apps show:
- IFSC
- Branch name
- SWIFT code (if available)
An IFSC code is mandatory for sending money via:
- NEFT
- RTGS
- IMPS
Without it, the transaction will not be processed.
Information Needed for Transferring Money
To transfer funds to any Madhyanchal Gramin Bank account holder, you need:
- Amount to be transferred
- Sender’s bank account number
- Receiver’s full name
- Receiver’s bank name
- Receiver’s bank account number
- Receiver’s branch IFSC code
Providing accurate IFSC ensures:
- Fast settlement
- Zero transfer errors
- Safe digital payments
How to Open an Account in Madhyanchal Gramin Bank
Madhyanchal Gramin Bank offers savings, current, and deposit accounts for individuals, businesses, farmers, and pensioners.
Eligibility Criteria
You can open an account if:
- You are an Indian citizen
- You are 18 years or older
- For minors, a parent or guardian can open a minor account
- You can provide valid identity and address proof
- You make the minimum initial deposit as per account type
Documents Required (KYC)
You must submit:
Identity Proof (Any One)
- Aadhaar Card
- PAN Card
- Voter ID
- Driving Licence
- Passport
Address Proof (Any One)
- Aadhaar Card
- Passport
- Voter ID
- Ration card
- Utility bill (electricity, water, gas)
- Bank passbook
Other Documents
- PAN Card
- Form 16 (if PAN not available)
- Passport-size photographs
Once documents are verified and the first deposit is made, the bank activates the account.
Frequently Asked Questions (FAQs)
1. What is the eligibility for opening a Madhyanchal Gramin Bank account?
Any Indian citizen aged 18+ with valid identity and address proof can open an account. Minors need a guardian.
2. What documents are needed for account opening?
Aadhaar, PAN, voter ID, passport, photos, and address proof.
3. What details are required to transfer funds?
Amount, sender account number, receiver name, bank, account number, and the branch IFSC code.