There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Bank Of India for its Channi branch in Akola, Channi, Maharashtra, then this comprehensive guide will provide you with detailed information.
The banking system in India has changed over time, and today the customers of Bank Of India situated in Akola or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID0VG6006. You should 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, Channi, Akola
Here are the main details that are associated with the IFSC Code BKID0VG6006 of Bank Of India for its branch located in Akola, within the district of Channi in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG6006 |
| Branch | Channi |
| City | Akola |
| District | Channi |
| State | Maharashtra |
| Address | Ap Channi Tal Patur Dist Akola Pin 444501 |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Akola for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0VG6006 for the Channi branch of Bank Of India has an important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Channi, Akola, Maharashtra, is provided a unique IFSC like BKID0VG6006 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of India branch in Akola.
- Helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any confusions between multiple branches of the same bank across different places like Akola and Channi.
- It reduces most of the errors in fund transfers and makes sure its accuracy.
- It enables sender banks to validate and confirm branch details before processing payments.
For thousands of branches across Maharashtra and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in Channi do not get misguided to another person.
Format of the IFSC Code BKID0VG6006
This is the format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Channi in Akola.
For example, the IFSC Code BKID0VG6006 of Bank Of India for the Channi branch includes these elements, identifying the bank and the branch location in Akola and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0VG6006 of Bank Of India for its Channi 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 Channi, 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 Channi or Akola to find the exact IFSC Code BKID0VG6006.
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 BKID0VG6006 for Online Transfers?
If you have the IFSC Code BKID0VG6006 for the Channi branch of Bank Of India in Akola, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0VG6006. 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 Bank Of India IFSC Code BKID0VG6006.
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 Bank Of India Channi in Akola, 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 Bank Of India in Channi, here are some ways to obtain 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.
Having both the IFSC and MICR codes makes it easy for account holders in Akola to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code of the Channi Akola branch is BKID0VG6006.
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 Ap Channi Tal Patur Dist Akola Pin 444501.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.