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 Bank Of India for its Balapur branch in Akola, Balapur, Maharashtra, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of Bank Of India located in Akola or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0VG6010. 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 Bank Of India, Balapur, Akola
The table below shows the main details of the IFSC Code BKID0VG6010 for the Bank Of India branch in Akola, which falls under the Balapur district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG6010 |
| Branch | Balapur |
| City | Akola |
| District | Balapur |
| State | Maharashtra |
| Address | Samarth Tower Near Bsnl Office Behand Bus Stand Atp Balapur Tal Balapur Dist Akola 444302 |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Akola for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0VG6010 for the Balapur branch of Bank Of India plays a vital role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, along with Bank Of India located in Balapur, Akola, Maharashtra, are allotted a unique IFSC like BKID0VG6010 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Akola.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Akola and Balapur.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It makes sure that money sent to Bank Of India in Balapur reaches the right place, even though there are thousands of branches in Maharashtra and across India.
Format of the IFSC Code BKID0VG6010
The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): These represent the bank code. In Bank Of India, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Balapur in Akola.
For example, the IFSC Code BKID0VG6010 of Bank Of India for the Balapur branch has these elements, identifying the bank and the branch location in Akola and Maharashtra correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0VG6010 of Bank Of India for its Balapur branch located in Akola, the following methods can help you out:
Cheque Book
The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including Bank Of India branches in Akola and Balapur, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Bank Of India and go to the branch locator section. Then search for Balapur or Akola to find the exact IFSC Code BKID0VG6010.
Mobile Banking App
If you use Bank Of India's mobile app, you can 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. Searching for Bank Of India and Akola will provide accurate information.
How to Use IFSC Code BKID0VG6010 for Online Transfers?
Once you have the IFSC Code BKID0VG6010 for the Balapur branch of Bank Of India in Akola, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0VG6010. The transfer is completed in batches instead of instantly. It is useful for both 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. Requires the recipient's account details and Bank Of India IFSC Code BKID0VG6010.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Bank Of India Balapur in Akola, your payment can get delayed or might not go through at all.
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 Bank Of India in Balapur, 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 Bank Of India website.
- Search the RBI portal.
If you know both IFSC and MICR codes, then it can help account holders in Akola manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0VG6010.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Samarth Tower Near Bsnl Office Behand Bus Stand Atp Balapur Tal Balapur Dist Akola 444302 located in Akola, Balapur, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.