Background: Pancytopenia is not a disease entity but a triad of findings that may result from various disease processes, primarily or secondarily involving the bone marrow. Bone marrow aspiration plays an important role in identifying the various causes of pancytopenia. Hence the present study was undertaken to evaluate bone marrow findings in pancytopenia cases and causes of pancytopenia on the basis of bone marrow findings. Method: Total 50 patients of aged between 18-70 years presented with pancytopenia in the Department of Pathology, at tertiary care teaching hospital in central India during a period from September 2018 to October 2020 were enrolled and evaluated for physical findings, primary hematological investigation and bone marrow aspirations. Results: Commonest age group affected was 41-50 years (28%) with male predominance (68%). General weakness (90%) was the chief complaint and pallor (96%) was commonest physical finding. Megaloblastic anemia (48%) was the common cause of pancytopenia, followed by dimorphic anemia (18%). Lowest hemoglobin range was 3gms/dl-3.5gms/dl noted in case of nutritional and megaloblastic anemia. Lowest leukocyte count was 570cells/mm3 and noted inmegaloblastic anemia. Lowest platelet count was 10,000cells/mm3 and noted in nutritional anemia. Hypercellular marrow was found in 41(82%) patients and common cause was megaloblastic anemia. Hypocellular marrow was seen in 4(8%) cases and normocellular marrow was seen in 5(10%) cases. Conclusion: Detailed primary hematological investigations along with bone marrow aspiration and biopsy in cytopenic patients is helpful for understanding of the disease process, to diagnose or to rule out the causes of cytopenia and helpful in planning further investigations and management of cytopenic patients.