Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of Karnataka Gramin Bank for its Parandahally branch in Kolar, Kolar, Karnataka, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of Karnataka Gramin Bank located in Kolar or anywhere in Karnataka can transfer funds instantly by using the correct IFSC Code PKGB0010994. You should definitely know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for Karnataka Gramin Bank, Parandahally, Kolar
The table below shows the main details of the IFSC Code PKGB0010994 for the Karnataka Gramin Bank branch in Kolar, which falls under the Kolar district in Karnataka.
| Particulars | Details |
|---|---|
| Bank | Karnataka Gramin Bank |
| IFSC Code | PKGB0010994 |
| Branch | Parandahally |
| City | Kolar |
| District | Kolar |
| State | Karnataka |
| Address | Parandahally,Kolar |
These details are essential not only for online banking users but also for businesses and individuals who use Karnataka Gramin Bank in Kolar for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code PKGB0010994 for the Parandahally branch of Karnataka Gramin Bank plays an important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code that is provided by the Reserve Bank of India. A unique IFSC like PKGB0010994 is given to every bank branch, including Karnataka Gramin Bank located in Parandahally, Kolar, Karnataka, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the Karnataka Gramin Bank branch in Kolar.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Kolar and Kolar.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Karnataka and the rest of India, which is why the IFSC Code ensures that transactions meant for Karnataka Gramin Bank in Parandahally doesn't end up at another location.
Format of the IFSC Code PKGB0010994
The format of the IFSC Code for banks, including Karnataka Gramin Bank, has an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Karnataka Gramin Bank, these letters represent the bank's short name.
- 5th character: Is always zero and is kept for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Parandahally in Kolar.
For example, the IFSC Code PKGB0010994 of Karnataka Gramin Bank for the Parandahally branch includes these elements, identifying the bank and the branch location in Kolar and Karnataka correctly.
How to Find IFSC Code for Karnataka Gramin Bank?
If you are trying to find the IFSC Code PKGB0010994 of Karnataka Gramin Bank for its Parandahally branch located in Kolar, the following methods can help:
Cheque Book
The cheque books that are issued by Karnataka Gramin Bank include the IFSC Code which is printed on each cheque and you can easily spot the code on the top section.
Passbook
Most banks, including Karnataka Gramin Bank branches in Kolar and Kolar, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Karnataka Gramin Bank and find the branch locator section. Search for Parandahally or Kolar to get the exact IFSC Code PKGB0010994.
Mobile Banking App
If you use Karnataka Gramin Bank's mobile app, you can easily check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India maintains an updated database of all IFSC codes to help you in searching for Karnataka Gramin Bank and Kolar that will provide accurate information.
How to Use IFSC Code PKGB0010994 for Online Transfers?
If you have the IFSC Code PKGB0010994 for the Parandahally branch of Karnataka Gramin Bank in Kolar, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code PKGB0010994. Transfers are processed in batches. Suitable for personal and business payments.
RTGS
Used for high-value payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. Asks for the recipient's account details and Karnataka Gramin Bank IFSC Code PKGB0010994.
Whatever method you choose, the accuracy of the IFSC Code is important and needed. In case there is any mistake in entering the IFSC Code for Karnataka Gramin Bank Parandahally in Kolar, it may result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of Karnataka Gramin Bank in Parandahally, here are some ways that you can get it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official Karnataka Gramin Bank website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Kolar manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Parandahally Kolar branch is PKGB0010994.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at Parandahally,Kolar.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.