Pragathi Krishna Gramin Bank IFSC Code Search

The 11-character IFSC Code is a combination of 3 essential parts. The first 4 characters signify the bank code, the 5th character is a ‘0’ and the last 6 characters represent the specific branch code. Have a look at the below-given example:

The above-given code (PKGB0011053) is the IFSC Code of Pragathi Krishna Gramin Bank, Aurad, Karnataka. Here, the first 4 characters ‘PKGB’ indicate the bank code, the 5th character is a ‘0’ and the last 6 characters ‘011053’ represent the branch code of Aurad.

The user can find the IFSC Code by opting for any of the below-mentioned ways. It is to be noted that the IFSC Code helps in identifying different banks and their branches helping the customers to avoid any mistakes during the process of a transaction.

1. IFSC Code search tool by Paisabazaar: The users can visit the Paisabazaar IFSC Code Search Tool page to know about the IFSC Code as well as MICR (Magnetic Ink Character Recognition) Code. Customers will be required to follow the below-mentioned steps -
   • Select Pragathi Krishna Gramin Bank under ‘Bank’ head
   • Select the state, city and then the branch name
   • All the details along with IFSC & MICR Code will be displayed on the right-hand side of the page
2. Cheque Book: The IFSC Code is printed on the top left corner of the cheque leaf, while the MICR Code is present at the bottom.
3. Passbook: The IFSC and MICR Code can also be found on the first page of the passbook issued by the respective bank.
4. Net banking / Mobile Banking: Account holders can look for IFSC Code on the bank’s official website or by logging into the net banking portal or mobile banking application.
5. The Reserve Bank of India (RBI): RBI also provides the list of IFSC Codes of all banks in India and their respective branches.

The use of IFSC Code is significant in processing electronic or online funds transfer via NEFT, RTGS or IMPS. Given below is the detailed description of the online fund transfer system:

NEFT (National Electronic Funds Transfer)

• NEFT is a payment service that facilitates transfer of funds from one bank account to another and is available 24x7
• The process of NEFT is based on deferred settlement and the transfer of funds happens in 23 half-hourly batches
• There is no maximum transfer limit in NEFT service
• The inward transaction charges at the destination bank branches are free of cost
• Both the bank branches of the remitter and the receiver should be NEFT-enabled for the fund transfer process to take place

RTGS (Real Time Gross Settlement)

• RTGS is a payment service that facilitates the instant transfer of funds in a real-time and on gross basis
• The RTGS service is ideal for carrying out large value transactions and is available from 8 am to 6 pm Monday to Saturday (except 2nd & 4th)
• There is a minimum transfer limit of Rs.2 lakh, however, maximum transfer amount has no cap
• The inward transaction charges at the destination bank branches are free of cost
• Both the bank branches of the remitter and the receiver should be RTGS-enabled for the fund transfer process to take place

IMPS (Immediate Payment Service)

• IMPS is a payment service through which the transfer of funds occurs instantly and securely. It is a faster payment service when compared to NEFT or RTGS
• The IMPS service is available 24x7 and can be accessed throughout the year, anytime and from anywhere
• There is a maximum transfer limit of Rs.2 lakh
• The inward transaction charges are decided by the individual member banks or PPIs
• To initiate the fund transfer process, the user needs to provide the beneficiary’s account number and IFSC Code

Established on 23rd August 2013, Pragathi Krishna Gramin Bank is a Regional Rural Bank sponsored by Canara Bank. The bank has its headquarters in Ballari, Karnataka and provides its customers with advanced banking services and financial products. The bank has a wide network of 649 branches and 11 regional offices, covering 11 eastern districts of Karnataka State.