For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Bank Of India for its Hiwarkhed branch in Akola, Hiwarkhed, Maharashtra, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of Bank Of India located in Akola or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0VG6008. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Hiwarkhed, Akola
Here are some of the key details that come with the IFSC Code BKID0VG6008 of Bank Of India for its branch located in Akola, within the district of Hiwarkhed in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG6008 |
| Branch | Hiwarkhed |
| City | Akola |
| District | Hiwarkhed |
| State | Maharashtra |
| Address | At Po Hiwarkhed Tq Telhara Dist Akola 444103 |
These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Akola for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0VG6008 for the Hiwarkhed branch of Bank Of India plays an important 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 Hiwarkhed, Akola, Maharashtra, are allotted a unique IFSC like BKID0VG6008 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 Hiwarkhed.
- 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 Hiwarkhed reaches the right place, even though there are thousands of branches in Maharashtra and across India.
Format of the IFSC Code BKID0VG6008
The format of the IFSC Code for banks, including Bank Of India, has an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Bank Of India, these letters represent the bank's short name.
- 5th character: Is always zero and is kept for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Hiwarkhed in Akola.
For example, the IFSC Code BKID0VG6008 of Bank Of India for the Hiwarkhed branch includes these elements, identifying the bank and the branch location in Akola and Maharashtra correctly.
How to Find IFSC Code for Bank Of India?
If you are looking for the IFSC Code BKID0VG6008 of Bank Of India for its Hiwarkhed branch located in Akola, the following methods can help:
Cheque Book
The cheque book that is issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the banks, including Bank Of India branches in Akola and Hiwarkhed, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
You can visit the official website of Bank Of India and look for the branch locator section, then search for Hiwarkhed or Akola to get the exact IFSC Code BKID0VG6008.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for Bank Of India and Akola, then it will provide you proper information.
How to Use IFSC Code BKID0VG6008 for Online Transfers?
Once you have the IFSC Code BKID0VG6008 for the Hiwarkhed branch of Bank Of India in Akola, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0VG6008. Transfers are processed in batches. Suitable for personal and business payments.
RTGS
Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. You need the recipient's account details and Bank Of India IFSC Code BKID0VG6008.
Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for Bank Of India Hiwarkhed in Akola, it can result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of Bank Of India in Hiwarkhed, here are some of the ways 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.
Knowing both IFSC and MICR code can help account holders in Akola manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code of the Hiwarkhed Akola branch is BKID0VG6008.
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 At Po Hiwarkhed Tq Telhara Dist Akola 444103.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.