Magento:: How To call a static block inside phtml

A static block in phtml file of magento, sometimes we need to do this kind of functionallity. For instance whenever you want to add one banner image on right side of callout block.

<?php echo $this->getLayout()->createBlock('cms/block')->setBlockId('banner_image_block_id')->toHtml() ?>

banner_image_block_id is the identifier you have created with static block in magento